Splitting finances

[aroundtheworld247]

Please help settle a debate or what would you do if it was your relationship.

we are married, 3 children. person A takes home £1000 a month, pays no bills and does the school runs.

Person B takes home £3400 a month, pays all bills and children’s costs (clothes, activities, clubs, appointments, birthdays, Christmas, parties, food shopping, children’s savings)

neither person A or B has savings and both end up with roughly the same amount of disposable income each month.

Person A car needs to be repaired, does person B pay for the car to be fixed, does person A pay for their own car to be fixed or do they both pay half of the cost?

Would person A want to split the cost of repairing B’s car?

I’m not sure why B paying for it would even be a suggestion. If you both have the same disposable income it doesn’t make sense for the other person to cover the cost of the repair leaving them with less money than A when it’s A’s car!

Married, 3 kids and in need of car repair, you need to sort this out with what you are both comfortable with - then you need a joint savings account for these unexpected repair bills.

You put it all in the pot that's what you do. Set up a standing order for some to go in a savings pot. If you both end up with disposable income at month end even more reason to have savings/isas . You could both have a savings pot each and a joint one for big shared expenditure.

If both have the same disposable income after family / necessary / shared costs - seems fair arrangement. I’d say that the car running costs are a necessary expense to be shared. I’d be looking to have a joint account both paid into that all shared costs come out of. And a joint ‘reserve’ account for bigger bills like this, holidays, etc