Active discussions

Meet the Other Phone. Protection built in.

Meet the Other Phone.
Protection built in.

Buy now

Please or to access all these features

Talk
Money matters

Find financial and money-saving discussions including debt and pension chat on our Money forum. If you're looking for ways to make your money to go further, sign up to our Moneysaver emails here.

Original poster

How would you divide the bills if you have different incomes?

79 replies

DrTrillianAstra · 06/03/2009 13:39

Just wondering what you all think is the best way to divide household expenditure.

DP and I are both just finished studying and are job-hunting, and it seems likely that we will end up earning different amounts. Up until now we have had identical incomes, so we have contributed equally to the joint account, which pays for rent, utilities, and food.

I want to know which of these scenarios you think is fairest:

A) Contribution to joint account is as a % of take-home income, so (for example) half my wages and half DP's wages go into the joint account. So whoever earns more contributes more, but also keeps more.

B) Each person gets to keep the same amount, so whoever earns mre contributes more, but both have the same 'disposable' income.

C) Something in the middle of A and B (not sure how to work it out)

D) We each contribute the same to the joint account, because we're both eating the food, both using the electric, both living in the flat (this is not really an option, so don't choose it okay?)

We don't have children so there's no issue of childcare, SAHPing, etc.

Thanks!

OP posts:
linserella · 06/03/2009 16:12

DP is earning about triple what I am earning but the mortgage is mine, therefore I prefer to split all fixed outgoings straight down the middle 50/50. However, his money pays for virtually all the food, car / petrol and anything DD needs so it works out equally enough. Appreciate it isn't the conventional set up but imagine that even if we had a joint mortgage I would still want it to be split equally.

Original poster
DrTrillianAstra · 06/03/2009 16:18

Well right now we are equally qualified, equally able and willing to go out and work a fulltime job, so if I choose a job that pays less to start with because I think I will enjoy it more than that's my decision to make.

OP posts:
Original poster
DrTrillianAstra · 06/03/2009 16:20

If/when children come into the picture and one of us (me) is less able and/or willing to go out and work fulltime then I would insist on equal spending money (assuming there is spare money for spending) but I don't think I would have to fight for that at all, it would just be the fair thing to do.

OP posts:
FAQinglovely · 06/03/2009 16:21

DrTA - absolutely I'm not saying it's wrong at all (honest guv - it probablyu won't surprise many MNers that know my posting style to know that one of the comments on my assignment I got back yesterday was something along the lines of "I wasn't always sure what point you were making" ) just trying to say that it doesn't matter what way you do your finances there'll always be someone that thinks it's wrong, but really as long as you and whoever you're sharing bills with are happy that's all that matter

drlove8 · 06/03/2009 16:26

... intresting thread.. this is what we do DH pays the housing costs and runs the car and extras( fun stuff), i pay groceries,clothing(unless DH wants something ery expensive , then he usually gets it himself),school expenses for kids( trips, dinners, music lessons ect),phone/tv/internet bills.big one off things like furniture i mostly pay for.we have joint savings account and seperate "usuable" accounts. i have all the credit cards, DH has none! ..... kids all have their own bank accounts for their "wages"- pocket money, maintenence payments from ex's or dla( depending on which child)....not so much as a A or B really, more of a XYZ!

Hulababy · 06/03/2009 16:37

We just pool our money. We both have access to that whenever we want and we both have a joint credit card to use. We also have savings accounts in joint names.

We pooled our money from moving in together, so before we were married and way before children.

It has always worked very well for us. neither of us would go out and spend loads willynilly without consulting the other and neither of us have any problems regarding money issues. DH is more likely to spend mrore than me - usually on gifts for me though so that is fine! lol.

Seriously though, it has worked out really well for us for the past 12.5 years. We trusyt one another implicity regarding money and we both know where everything is, all passwords, etc. DH does the day to dday money management but should I need or want to I know what to do and where to go.

Original poster
DrTrillianAstra · 06/03/2009 16:41

Don't worry FAQ, I didn't think you were being funny

OP posts:
VanillaPumpkin · 06/03/2009 16:44

We have a joint account and DH's money gets paid in there. All the bills and any spending comes out of there. We have savings for big purchases and I would never spend over £20 on one item without talking about it first.
I have the Child Benefit and Tax credits paid into my account and use this for my spending and childrens clothes and shoes etc. And books which I seem to buy a lot of ....
DH knows I have a good deal but doean't seem bothered about spending money so we get along quite well.
He gets more free time for hobbies and I spend more on myself. It works for us

Original poster
DrTrillianAstra · 06/03/2009 16:55

Why the drlove? I think it is an interesting thread, as I think it's interesting to see how other couples/families sort out their finances.

OP posts:
FAQinglovely · 06/03/2009 16:58

DrTA - I think she meant more of as "hmm interesting" rather than a sceptical face (another reason we could do with a few more emoticons )

Original poster
DrTrillianAstra · 06/03/2009 17:12

You could be right, when I first used that face I got shouted down because I thought it was an innocent hmm rather than apparently a not-nice face to do at people.

OP posts:
StripeyKnickersSpottySocks · 06/03/2009 18:01

DH earns about 3x what I do - so he pays all the bills and mortgage. However thats only £750 a month as we have a very small mortgage.

I buy all food, dd's clothes and pay childminder. Maybe about £400 - £500 a month.

DH has a lot more disposable income left than me so he will also pay for holidays and often I'll ask him for money to tax/service my car.

slayerette · 06/03/2009 18:12

Are we old-fashioned? Ever since DH and I moved in together (about 11 yrs ago now) we have had a joint account where all our money went. We have never had a concept of my/his money. Which is a big relief now I am part-time and he earns about 3x the amount I do!

duckyfuzz · 06/03/2009 18:19

we are the same as you slayerette, we are a partnership

bigTillyMint · 06/03/2009 18:24

We have a joint account and do a sort of % thing - DH pays in more than double what I pay in because I only work PT on a lower salary than him.

Everything for the family and house comes out of that account. DH hardly spends any of his leftovers, but I spend quite a bit of my leftovers on clothes, etc for me

We also have a few savings accounts which DH oversees, and DH decides when we will overpay the mortgage, etc.

Luckily we are both pretty sensible with money, so we don't argue about it.

FAQinglovely · 06/03/2009 18:26

ducky - I don't think this is about being a "partnership" - it's just different ways of running the joint finances

pavlovthecat · 06/03/2009 18:33

We have a joint account which all our money goes into, and whatever is left after bills etc is spent by both of us as and when we want to - as a family with a child.

As non-family, we had our own money, own bank accounts and it was quite hit and miss how it worked out. I earned more money, so paid for more 'bill' type stuff, DH (dp at the time) would buy luxuries that we needed, or pay for this, that or the other. We were never really precious about whose money was whose, as long as there was enough money for me to buy xyz, or for him to by xyz when either of us wanted. In practice I was physically responsible for 'paying' bills, mainly as I was better at it.

Flibbertyjibbet · 06/03/2009 18:34

Everything is pooled even though we have our own bank accounts. We just look on all our money as family money regardless of whether it comes from wages, tax credits etc.
For this to work you have to trust each other, and have similar outlook on finances and spending.

btw this is a parenting website, perhaps you'd like to come back when you have childcare/sahming/part time working/maternity leave on stat mat pay, to take into account.

JackBauer · 06/03/2009 18:35

We don't ahve a joint account purely because I have a terrible credit rating and he has a great one!
DH has a full time job and pays all bills fro his account, he also gives me some money towards food.
I get child benefit, tax credits and small wage and I buy food and pay my mobile bill and catalogue account.

When we both worked I gave him a rough proportion of the money for bills every month and he paid out of his account, and I bought the food.
I am appalling with money though, and not to be trusted not to spend it, howeverm I am a better cook than DH

I think a proportional split is fair.

ScottishMummy · 06/03/2009 18:37

we have individual accounts.a joint acc for all bills (equal),mortgage(proportionally to what earned) nursery proportional to wage

then whatever is left in your individual account is your own money

easy peasy

unfitmother · 06/03/2009 18:37

Before we had dcs we had a joint account right from the start.
Dp earned more than me, I stayed at home for a while when we first had dcs and earned nothing. Now I work full time and earn more than him but there's never been any question of my money and his money, it's always been ours.

VanillaPumpkin · 06/03/2009 20:07

Flibberty - I think you are a bit off telling Trillian to come back when she has children especially with the patornising smiley on the end. How odd.

She could be here for the ttc boards or childminder/nanny stuff or anything else. Free world and all that....

Thread was obviously interesting enough for us all to comment on.....

Wolfcub · 06/03/2009 20:20

we contribute 50/50, dp earns at least 5000 a year more than I do.

BellaNoir · 06/03/2009 20:53

A: I earn twice as much as DH.
Ever since we moved into together (12 years and been married 5 now) we have paid into a joint acc to cover bills etc and then kept rest in own accs. Do have discussions about budgeting as well overall. At that time we earned about equal.
Over the years I've got promotions, so suggested we do it on a proportional basis to make it fairer. What it works out as now is 60:40 split as overall my disposable income is higher than his,plus I'm paying into the NHS pension and he's got a private pension. He has high commuting costs because we moved for my job (with the higher wages).
We split holidays the same way.

Original poster
DrTrillianAstra · 06/03/2009 21:42

Thanks for comments everyone.

Flibbertyjibbet if you know of another forum on the internet that has adult women (rather than 15 year old boys or men who have not yet grown out of being 15 year old boys) who want to talk about all sorts of things, not just a forum on a specific topic, then let me know.

I haven't found one, and I've found Mumsnet is great for random chat, talk about stuff on TV or books, as well as parenting-related things. And despite what certain journalists might say I find a lot of child-related talk interesting even though I don't have any of my own yet.

OP posts: