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Should my partner and I split expenses evenly?
When romantic partners earn different amounts of money, it can be hard to decide how to share costs.
Does it make sense for the higher earner to fund more of the shared expenses? Should everything be split evenly? Should all income be combined into a single pot without concern for who earned it?
While different couples will answer these questions differently, financial experts recommend some universal rules to keep in mind.
First, talk openly about money with your partner. You might want to start with a brainstorming session about how to split expenses. It could also be worth exploring how each person grew up talking about money, and what they observed about their parents’ financial choices.
Next, some financial experts suggest taking a percentage-based approach. This means each partner contributes an amount proportional to their earnings into a shared expenses account. That method can feel fair, and it’s easy to adjust as incomes fluctuate.
Some couples in long-term committed relationships or marriages opt to combine everything, which can simplify discussions about sharing expenses.
Most importantly, talk through these questions until you land on a solution that works for you. When it comes to shared expenses and different income levels, there’s no one right answer.
