How shall we split the money if I work part time?

[breastsofjordan]

DP and I have separate accounts. I'm going back to work part time. He works full time.
If we look at what's left over after the family outgoings, should we have an equal split of the money left over, or should I have less because I work part time?

Presumably you are looking after DC when you're not in paid work?

In any case we have always split everything 50/50 since living together -- I don't see that any other way is fair!

Unless you come home from your p/t job and put your feet up while the nanny does the childcare, the housekeper, cleaner and cook do the chores, and your p/t secretary does the b'day presents, bills etc, then yes, you should split the money left over - or at least have equal call on it!

OR, contribute to all joint household expenditure pro rata to the amount you earn, and keep what's left. But still, parenting is work, and what keeps you from earning full time.

50/50

I would say that DP should pay proportionally more bills, so any money left over is roughly 50/50.

This is how we do it:

joint acct for all bills, mortgage, food, kids' clothing etc

separate accts each get an equal amount of spending money each month for us to spend how we please (dh = beer, me = shoes and coffee)

any excess goes into savings

Presumably on the days that you are not working in paid employment you are working at looking after his children/home and saving your family the childcare costs?

Personally I don't get all this his and hers money stuff and would find it much easier to pool it all perhaps with "pocket money" for each of you to spend as you wish.

But if you do prefer to have separate accounts and want to continue with this then I would say that adjustments will need to be made to reflect the contribution you make, ie DH needs to pay you a "salary" of sorts to reflect the fact that you are working at home as it were. To keep it simple I would say have an equal split of the money left over. Certainly not less than your DP.

Our finances are exactly the same as MegBussets, makes life very simple and as we each have a bit of our own spending money then neither partner feels aggrieved (except when certain people decide that a brand new sports car is a necessity which comes out of the joint account)

I never understand couples with children that don't have joint accounts, but having said that some of my friends do and it works out fine for them.

I think the fact that you work part time is irrelevant.

What we used to do was:

• Both salaries to go to joint account
• Joint accout to be used to pay for all essentials like mortgage, services, food, school expenses, etc.

-From the rest we worked out how much we could ressonably "pay" each of us a week. With that money we were free to do whatever we wanted without consulting the other one (like expensive shoes or a new expensive expresso maker although we would need to save our "allowance" for a few weeks for some of those).

It worked well, so well that we were sufficiently economically independent while maintaining spending equality.

We started the same as MegBussets but then scrapped the separate accounts bit. Mainly because it started to seem a bit pointless - neither of us are big spenders so the separate accounts effectively became saving accounts. Ultimately it then made more sense to keep it all the joint saving account.

I really do believe life is much simpler (assuming no particular gambling/big spending issues) if you just think what's yours is mine and vv. If I want to buy a pair of expensive shoes now and again I just go for it and DH would do the same. We trust each other to be sensible and it all seems to work out in the end.

Obviously everyone is different but I do think there is a real danger of a woman being "penalised" after having children if money is not pooled.

same Riven same, the equality is there even if the money isn't

We are the same as stillstanding: DH earns over twice what I do but we have never thought of it in any other way than 'our' money. We are both v sensible though and if I want something which is dearer than I'd normally spend, I check with him first and vice versa.

It's hard enough managing the accounts with one joint account which everything goes into and everything comes out of - couldn't cope with working out 'fair shares' of it all too

I agree, if you both are sensible, no problem. If you have a slight tendency to fall in love with expensive items... a budget is the way to go.

So true, Biobytes

Thanks everyone. Think we'll be splitting remainder 50/50.