How to split Rent costs with Partner

HappyMJ

The £220 isn't part of your household income....so you would deduct that before making the calculation for proportional expenses like you do with tax and NI. You could do it after if you wish to. It's all up to you on what you want. A 50/50 split cannot work. The lower earning partner would always be skint and the higher earning partner would always have money.

DylanO

DebtFreein5Months wrote: »

Thanks Noctu I agree with you - but some of my friends are horrified that I think this is fair - they think that it should be 50/50 out of principle of equal rights etc etc - but you're right - the other person would end of being skintos.

Or living within their means. I don't think I could ever 'pool' my money with my partner's - I'm far too independent for that. And I say that as someone who has a boyfriend who will always have more money than me. Unless I win the Euromillions. Or all my siblings and parents die in a tragic accident.

DebtFreein5Months

HappyMJ wrote: »

The £220 isn't part of your household income....so you would deduct that before making the calculation for proportional expenses. You could do it after if you wish to. It's all up to you on what you want. A 50/50 split cannot work. The lower earning partner would always be skint and the higher earning partner would always have money.

Agreed So £1100 minus the £220 = £880, if they contributed £400 towards all HH costs, that would leave them with £480 per month for spending, car insurance, car tax etc - is that enough?

HeadAboveWater

Hmmm hard to say what fair is!

As all us MoneySavers know that nobody should try to live above their means If the lesser paid person was on their own they'd have to look for somewhere more affordable.

When we were all growing up, we had to pay mum 'rent' money as soon as we started earning, be it JSA or salary or whatever. To keep it 'fair', we each had to pay 10% of our income, rather than a set amount. To ask for £100 a month from someone on JSA is a lot different to asking for £100 from someone earning £10k a year. It worked well for us

A 70/30 or 60/40 ratio would maybe be best. If figures can't be agreed, I say find somewhere cheaper!

Any cars involved?

EDIT:

DylanO wrote: »

I could possibly be persuaded that the rent could be split proportionally (depending on whether the higher earner wanted to live in that place, and not somewhere cheaper) but not the other household bills.

I like it. Split rent in proportion but just halve the bills.

DylanO

HappyMJ wrote: »

The £220 isn't part of your household income....so you would deduct that before making the calculation for proportional expenses like you do with tax and NI. You could do it after if you wish to. It's all up to you on what you want. A 50/50 split cannot work. The lower earning partner would always be skint and the higher earning partner would always have money.

My parents' 20 odd year old marriage says different.

HappyMJ

DebtFreein5Months wrote: »

Agreed So £1100 minus the £220 = £880, if they contributed £400 towards all HH costs, that would leave them with £480 per month for spending, car insurance, car tax etc - is that enough?

Not really. As the higher earning person would have £1,500.

HappyMJ

DylanO wrote: »

My parents' 20 odd year old marriage says different.

Split on expenses not on income. Kids coming along then I would always say split 50/50 on income.

DebtFreein5Months

kathy_virginvie wrote: »

Hmmm hard to say what fair is!

As all us MoneySavers know that nobody should try to live above their means If the lesser paid person was on their own they'd have to look for somewhere more affordable.

When we were all growing up, we had to pay mum 'rent' money as soon as we started earning, be it JSA or salary or whatever. To keep it 'fair', we each had to pay 10% of our income, rather than a set amount. To ask for £100 a month from someone on JSA is a lot different to asking for £100 from someone earning £10k a year. It worked well for us

A 70/30 or 60/40 ratio would maybe be best. If figures can't be agreed, I say find somewhere cheaper!

Any cars involved?

Hiya, The 70/30 is roughly the 2.5 proportion (ish - maths was never my strong point), so if person 1 puts in £400, and person 2 puts in £1000, we could get our nice place leaving person 1 with £480 per month....

2 cars, 1 each, each person pays for their own.

BitterAndTwisted

What's fair and equitable is whatever both parties agree is fair and equitable. There is no "right" answer.

However, I'd be having some qustions in my mind about how the higher earner saw the relationship long-term if they thought that a proportional contribution wasn't being absolutely fair to the other person. Otherwise why live together at all? Splitting everything 50 /50 to me sounds like flat-mates rather than a committed couple.

DebtFreein5Months

HappyMJ wrote: »

Not really. As the higher earning person would have £1,500.

Should the higher earning person give the other person money?
And this assumes that the £1500 would be spent whereas I think most of it would be put into a savings account