They say that money is the number one cause of divorce and I find this to be fundamentally true.
So, my partner and I have always split the bills and everything down the middle for about eight years. Recently there was some frustration when I was able to take us out for new experiences, vacations, etc.. I was given at raise at work pushing me to 60k while my partner was still at 20k. (They love what they do and that’s fine with me.)
I could sense the frustration building and decided it was time for a drastic change. Who doesn’t want to be able to do something for their partner right? So here’s a breakdown of what I did.
Total monthly bills: $3000 approx Mortgage: $950 Insurances: $150 Pets: $200 Property tax:$300 Car payment:$325 Utilities:$400 Groceries:$500 Fuel:$100
This is everything we need for the month. So I played with the numbers to come up with a fair split. I concluded that if we each did 45% of our income we would be at a fair standpoint.
45% of $5000 is $2250 (mine) 45% of $1670 is $750 (theirs) Total: $3000
Using this we are neither one suffering and are having a much better relationship. I only had one rule to putting this into effect. A mandatory 10% contribution to each 401k plan.
I realize that some of you may not like this plan but I wanted to share for those who are in a similar situation and needing some help coming up with ideas.
Side note: I understand some may say the math doesn’t add up on the split before the change (paying $1500 would exceed their income but tips aren’t included here due to varying)
Submitted July 10, 2018 at 01:14AM by Whic285 https://ift.tt/2m5SPHV
