How to work out individual contribution

[Justacoupleofbiccies]

Hi everyone, please help my frazzled baby brain! I am trying to work out how to split the individual contribution to our essential costs taking into account one of us earns more than the other. After other income, our total costs are 1663 euros. My income after tax is 1050e, and my partners is 1300e. I'm getting a bit lost in percentages, can someone help me out with what formula to use to work out how to split it fairly?

Thanks in advance for your help!

Are you both working the same number of hours?

Are you both on the mortgage or do you rent?

Put everything into a joint account, then seperate, say, 200 each to your own accounts for personal spend, especially if you are pregnant.

That’s a 45/55 split.

1050/2350 = 45%

If I was me then I would take the 250 out of the equation and then split the bills down the middle after that. The 250 can go into a savings account to be used for bigger household purchases as needed. I'm not sure what the 1663 needs to cover but you should both then have just over 200 to spend on what you want each month.

I wouldn't try to make it anymore complicated than that personally.

Family joint finances if you are partners and parents.

Now you share a child I agree with pp - all in one pot, equal spends to personal accounts, save anything leftover in the shared pot. Full financial commitment to go with your shared commitment to parenthood.

I'd one pot it too.

Mine and dh wages go into the joint account, all bills inc food shop and fuel for car come out of that. Then we have a set amount for personal spends and savings.

He earns significantly more than I do now, we find it easier to just mix it up. When we first moved in together we kept wages seperate and just put the same amount into a joint account for bills (we earnt similar at that stage) when we had ds we moved the money to go into the joint account.

To answer your actual qn, Vs telling you you're wrong.

44/55 as pp said.

( Total / 100 ) X share

(1663 / 100 ) X 55 = 915
(1663 / 100 ) X 45 = 748

1330-915= 415
1050-748= 302

@SleepingStandingUp You've just illustrated why splitting by percentages is unfair as the OP will have less personal money than her partner.

Unless she's working fewer hours by choice and does nothing of any use at home (baby care, cleaning, cooking, laundry etc) in the extra time she has, they should both have the same amount of personal money, hence why combining all income, paying all joint costs including everything for the baby and topping up her pension to compensate for working fewer hours and then splitting what's left 50/50 is fairer.

Thank you everyone for your help with the formula, and different perspectives and ways of splitting finances too. To answer a few questions- we are renting, working the same amount of hours and we have children. Previously I was mainly working freelance/ SAHM and DH was a student so we pooled all finances and would just send each other extra money as and when needed. However we are now a lot busier and have several different income sources, so it will be simpler to just put an individual contribution into the bills and savings. That way we are left with a similar amount of "free spends", but of course will just send each other a top up if anything unexpected happens. ( Hello car exhaust falling off last month! 😅)

If you have kids, then it would be easier to just have it all into one account and give yourselves a basic personal amount every month. Then your money will already be in there if you need a top up for car exhausts.