Financial thoughts about living with someone...

[cpots]

I think the view between bf and myself that it would make sense to live together 'at some point', both quite happy and relaxed and not really thinking of this happening imminently. However, before any serious conversation is had (he would move in with me and my 2 DC) I would be very interested to hear people's advice/experiences re the paying of bills, food, etc .... and how this is split.
No rent or mortgage on my part, he has mortgaged house, both have jobs, I have 2 DC ... came from an ExH where all monies were thrown in the pot and used as and when by either party.

The splitting of things is new territory for me so what has worked well or not so well for you MNs ... any do's and don'ts greatly appreciated, thanks

In the past I've worked it that each chips into the joint account enough money by standing order to pay for all the household expenses, split proportionally according to income. This includes plenty of 'spare' which would get saved up for big ticket & irregular items like holidays, Christmas, college fund, a new roof, etc. That left us both with a similar (small) amount of pocket money each in a personal account that we could save or spend as we wished.

That way the essentials were always covered & no-one had to 'ask' anyone for spending money

If you own the house then you want to have a quick chat with a solicitor to draw up the paperwork for him to sign that means contributions towards bills will not provide him any entitlement towards the house in the event of a split.

DH and I split bills proportionally to income. So if the joint account needed £1,000 a month and he earned 60% of the household income he'd pay £600 and I'd pay £400. Mortgage comes out of joint account and is listed as being 50:50 contributions (there is a clause defining what % deposit we each put in). It's worked well for us.

After a cocklodger of a first husband I'm very practical about money. DH and I have calm meetings and a cuddle afterwards where we revert to being a couple