Living together and money

[Helpyou]

Hypothetical question as this is early early stages but having never had to cross this stage in the past I wonder what do people do when one earns more than the other in a relationship and buying a home?

For context: both own their own properties separately and if the time comes, both properties will sell for a similar amount (give or take)
But one person earns approx 20k more than the other. Do you put the same amount in each for deposit? Or is it relative to pay? Does one pay more for bills?

And if making a joint bank account, do you put in the same amount or again a relative percentage?

Having always been an independent person, I am just not sure how this will all work. It wouldn't be for another year or 2 so there's no rush with this really but want to be prepared and I guess need to start thinking about saving for the future.

Thanks!

when my very high earning boyfriend and then husband and I moved in together in to a MUCH nicer and more expensive place than I’d previously been in a flat share … I paid the same as I did in the grotty flat.

absolute bargain considering I’d moved from Kilburn to Chelsea! 😂

Committed couples that see each other as equals do joint finances.

It’s not about how much you earn, you should consider each others time and effort equal - so yes housework is just as valuable as paid employment.

Otherwise what would happen if one lost their job for 2 years, got ill for 2 years, got pregnant and went on maternity leave, had to take time out to retrain etc.

When we first got our first property, partner paid 75% of the deposit and I paid 25%. When we moved in we put both our salaries together as we only just about paid all our bills. If you don’t want to do this, you have to decide what’s fair between you, some will say 50/50 because you both live there and should contribute the same, but some will say higher earner should pay more.

We both put some money in for the deposit % relative to earnings then we both paid all our earnings into a joint account (for bills, food, holidays, savings etc) and we both had the same amount of individual spending money each monthly (to spend on whatever we saw fit - individual nights out, hair etc etc) although DH earned a heck of a lot more than I did at the time. The house is in joint names. We went on to have two kids and I have worked part time since, we have kept things the same (but I do more housework, the kids are teens now).