How to work out financial input?

[NewBeginnings77]

Partner will be moving in with me in the not too distant future. How do people work out what financial contribution should be?
I own my own house, no mortgage (and he won't be going on deeds).

He earns slightly less than me (me 33k him 27). Kids are grown and gone. TIA

When my brother’s partner moved in with him she paid him rent of half of what she had been paying before (on a manky share house!) plus half the bills.

So they were both better off by the same amount.

A percentage of all bills based on your incomes or 50:50 bills as he won’t be paying rent/mortgage?

In your case, if you see a long term future with him, I would split it by percentage of income. Include all the bills, food, holidays. Total you earn £60K (100%). 55% is earned by you and 45% by him. If those above costs £1,000 a month, you will pay £550 and he will pay £450. Any house maintenance & insurance cost is for you as you own the house. You could also have a joint saving account and then leave the rest in individual accounts. If you ever were to marry, think through if you would want him on the deeds or if you just want your children to inherit the house (depending on their relationship with him), I think option 2 is best.

Surely you go halves on all bills not relating to the house upkeep? He will still be paying a lot less than renting because you own the property. You earn a bit more than him but that will cover your home insurance and maintenance

What would your will say ? Maybe going off point here but would you write thar they have a right to live there until they die and then the house goes to children (or other beneficiaries)? Or does he have to move straight out.

Halves on all non-house related expenditure. That's things like the mortgage and insurances and fixing the roof - if you want a new sofa, that's a shared expense.

Or proportionally based on net salary.

Some useful replies thanks. No interest from either of us in marriage. House will be left to my 2 DC.
He has a mortgaged property which he is looking to rent out, unclear whether this would cover mortgage just yet, not in a high demand area.

Hadn't thought about right to live there if I die 1st, food for thought but as it stands he will keep and rent his property.

He has said he wants to pay me whatever we agree on towards bills and also a seperate amount towards hols, gigs etc, mainly cos by his own admission he is crap at saving so wants me to keep in a seperate account.

This

OP

Would suggest you both approach a solicitor and get a cohabitation agreement drawn up.
This could save you all sorts of problems particularly if you were to separate.

I would wait until he is on firmer financial footing. His casual attitude to ‘not much good at saving’ added to his is thinking of renting his property without knowing if it would cover his mortgage would send alarm bells to me.

He wants you to decide about how much he pays, no mention of him paying you rent. @AttilaTheMeerkat has a lot of experience. Listen to her advice. Make him come clean about his true financial situation. What are his outgoings compared to his income. Full disclosure and see if he runs a mile.

Do I sound cynical, you bet I do.

I'm in a similar position, partner moved in last year, he pays half of all bills. We have different financial backgrounds, I've been lucky with help from my family and own my house outright, he has nothing except some possessions. I don't want him to have any claim so it's just half bills. I was thinking of making a post asking for the best way to share things equally, especially if we move, as I live rurally and know he would like to move to a town, and I am open to the idea but since I would finance 100% I don't know if he gets any say at all about the house I buy for us to live in. difficult.

He may earn slightly less but you mention rental from a property he owns.

He is on a decent enough financial footing, just hasn't had much spare cash each month to save, after starting again post divorce.

I've seen his income/bills and he's quite savvy with that, using spreadsheets to keep track of where he is with everything. He's been very transparent over finances in fact, I have no complaints on that front. We sat and worked out together last night what bills he'd need to keep paying on his house once rented, what would need to be added eg landlords insurance, agency fees etc. and what his disposable income would then look like, depending on rental amount ofc.

He's just not aware of rental income yet as he hasn't had it valued, and is due to see the letting agency today to start the ball rolling, find out what safety certs etc are reqd and what level of rent it is likely to be. There are no 3 bed houses up for rent in his area hence not knowing what market rent is. I do wish people weren't quite so quick to see the negatives! I didn't want to make a lengthy post with info we don't yet have.

House maintenance etc would be mine and mine alone, I just wasn't sure how to approach bills etc and the 55/45 approach above seems sensible and would leave us both better off by similar amounts. That would then leave him room to save, with holiday cash going into a pot in my account as I'm the one that does holiday bookings, gigs etc. anyway. He has a decent bonus being paid out from work shortly which clears his credit card, and again I've seen that so transparency has been there from him.

The rental would be from the house he currently lives in which would be rented out. He is seeing the letting agency today to get an idea on pricing, we are expecting it to cover his mortgage and letting fees, if it doesn't then we will discuss a plan. He would obviously have his house maintenance to pay still, and I would have mine.

It seems that you have had a full and frank discussion which is good. I wish everyone who went into these arrangements were as clear sighted. If others did the same there would not need to sound warnings or make expensive mistakes.

I do think that this site does make us see the negatives merely because people post about problems, not when things are going well. I hope it is a success for you.

Thankyou. Yes eyes wide open and he was the one who actually opened up his spreadsheets and initiated the discussion about bills last night.

He has now booked a valuation with lettings agent also so that should clarify figures for us a little better and enable us to plan.and move forward.