Splitting bills equitably - help with calculation!

Flomay_2

Hi - wondered if anyone with a better brain than mine (and hubbie's!) could help with how to work out an equitable way for us to split our household bills.

When we were both working full time we just split the bills 50/50 which was fine because despite earning a bit less, my DH could afford that. Now we have a baby and we're both working part time (me 25.5 hrs and him 28 hrs) so we can both do a bit of childcare, he doesn't earn enough to cover half the bills (he is paying off a large loan which doesn't help).

Our joint monthly bills come to £1505.
After loan repayment & travel DH has £662 take home pay.
After travel I have £1151 take home pay.

I just can't work out how to do the calculation so we are both paying the same amount of bills in relation to our take home income - does that make sense? (I have a real problem with percentage calculations!:o)

If anyone can help I would be really grateful.

thanks

belfastgirl23

Would it not make more sense to pool your money and then take 'pocket money' each?

HappyMJ

I agree with belfastgirl add your income together to be £1813..pay the bills -£1505. You'll have £308 left so it's about £150 each for "pocket money".

Pepzofio

£662 + £1151 = £1813

£662 / £1813 = 0.36514 x 100 = 36.5%

£1151 / £1813 = 0.63485 x 100 = 63.5%

So on a pro rata split, you'd pay just under 2/3, he'd pay just over 1/3.

ETA: So roughly the same as if you just pool it and split what's left after bills!

iamana1ias

Flomay wrote: »

Hi - wondered if anyone with a better brain than mine (and hubbie's!) could help with how to work out an equitable way for us to split our household bills.

When we were both working full time we just split the bills 50/50 which was fine because despite earning a bit less, my DH could afford that. Now we have a baby and we're both working part time (me 25.5 hrs and him 28 hrs) so we can both do a bit of childcare, he doesn't earn enough to cover half the bills (he is paying off a large loan which doesn't help).

Our joint monthly bills come to £1505.
After loan repayment & travel DH has £662 take home pay.
After travel I have £1151 take home pay.

I just can't work out how to do the calculation so we are both paying the same amount of bills in relation to our take home income - does that make sense? (I have a real problem with percentage calculations!:o)

If anyone can help I would be really grateful.

thanks

As I have my maths head on....................

Total income £1813
Hubby = 662/1813 = 0.37 (37%)
You = 1151/1813 = 0.63 (63%)

So you need to pay 63% of the £1505 = £948.15 and your hubby 37% = £556.85

Maddie

If you want to do it how you suggested;

OH would pay 662/(662+1151) x 1505 = 550
And you would pay 1151/(662+1151) x 1505 = 955

So OH would have £112 'pocket money' and you'd have £196.

I'd say this is perhaps more fair in your case than having £154 each as OH is paying back a loan which presumably he's had the benefit of in the past.

Maddie

Oooppps, I obvisously took too long to post!

shellsuit

Why don't you just put your money together, pay the bills and loan out of it and what's left is for travel and extras.

Why do you have to split anything, you're married!

We don't split anything, whatever needs paying, gets paid, and whatever is left, we use as and when.

There's no 'mine and yours' in this house. It's all 'ours'.

pie81

I don't get this. You're married. So you pool your money and pay the bills out of that, surely?

iamana1ias

pie81 wrote: »

I don't get this. You're married. So you pool your money and pay the bills out of that, surely?

Why should they? I'd never pool money with a partner, whether I was married to them or not.

iamana1ias

shellsuit wrote: »

Why don't you just put your money together, pay the bills and loan out of it and what's left is for travel and extras.

Why do you have to split anything, you're married!

We don't split anything, whatever needs paying, gets paid, and whatever is left, we use as and when.

There's no 'mine and yours' in this house. It's all 'ours'.

Good for you. Not everyone works like that though.