Home finances - sharing the running costs

[Harry Bloomfield]

I'm currently embroiled in a discussion, other than in here, in how you share the costs of running a home, when both partners have their own source of income. Basically how much as a percentage each should contribute towards all of the many costs of running a home.

My situation is one of everything being paid for, including the house, with a nice healthy bank balance - so just the usual bills to pay for food and running costs. I easily manage living alone, retired and on a pension.

Now assuming a partner joined you contributing zero wealth and property etc., but with rather more income. How much would you expect as a contribution to the overall running costs, as a regular contribution?

If not a regular contribution, then how would you work things out?

 

[Ihavenojob]

I'm currently embroiled in a discussion, other than in here, in how you share the costs of running a home, when both partners have their own source of income. Basically how much as a percentage each should contribute towards all of the many costs of running a home.

My situation is one of everything being paid for, including the house, with a nice healthy bank balance - so just the usual bills to pay for food and running costs. I easily manage living alone, retired and on a pension.

Now assuming a partner joined you contributing zero wealth and property etc., but with rather more income. How much would you expect as a contribution to the overall running costs, as a regular contribution?

If not a regular contribution, then how would you work things out?

SWMBO buys the shopping, I pay everything else. In your case, see how much more of everything is used and charge accordingly.

 

[Harry Bloomfield]

SWMBO buys the shopping, I pay everything else. In your case, see how much more of everything is used and charge accordingly.

What I have always done, is both put the same amount into the 'household account' each week, then tweak it as necessary as time goes on. Presently a £120 per week each, would cover it, she with my card to buy food etc., me with it on my phone for similar needs.

 

[Old Salt]

Joint account with an agreed amount each month from both parties for the bills and running costs. Own account each for whatever you each want to spend it on. Size of the income is immaterial unless you are signing pre nuptial agreements or have some other motive.

 

[opps]

Meh, I have been paying a grand a month (current money) for about 20 years, and additionally taking time off work to work in the house. If she gets grumpy (again) and kicks me out, I will be forced to walk away with absolutely nothing (my name was never on the mortgage and we are not married).

Hey ho...

 

[Keithmac]

Wife pays joint Mortgage, I pay all bills and food.

Works out about even really (until next utility bill comes in!).

 

[Harry Bloomfield]

Meh, I have been paying a grand a month (current money) for about 20 years, and additionally taking time off work to work in the house. If she gets grumpy (again) and kicks me out, I will be forced to walk away with absolutely nothing (my name was never on the mortgage and we are not married).

Hey ho...

I did pretty much the same with my original partner, but between we had complete trust.

 

[conny]

Meh, I have been paying a grand a month (current money) for about 20 years, and additionally taking time off work to work in the house. If she gets grumpy (again) and kicks me out, I will be forced to walk away with absolutely nothing (my name was never on the mortgage and we are not married).

Hey ho...

Not necessarily. If you have proof, such as bank statements, household bills you paid for with your credit/debit card etc, then you could claim a percentage of shared costs. When people live together, (it used to be for at least 2 years but I think that may have been scrapped), then they are classed as being in a 'relationship' and can be treated similar to a married couple or a couple in a civil relationship.

 

[Harry Bloomfield]

Not necessarily. If you have proof, such as bank statements, household bills you paid for with your credit/debit card etc, then you could claim a percentage of shared costs. When people live together, (it used to be for at least 2 years but I think that may have been scrapped), then they are classed as being in a 'relationship' and can be treated similar to a married couple or a couple in a civil relationship.

So, are you saying that Opps could claim a share of the value of the house he has contributed to?

 

[conny]

Yes. My ex wife did and she had never contributed to the actual mortgage. What little she earned from her part time job usually bought her or the kids a little something or occasionally put fuel in her car, (which I bought). I paid the mortgage and all the utility bills and she had a bank card for our joint account which she paid for food from. She signed divorce papers agreeing her behaviour had led to the breakdown of the marriage, (I have audio and written evidence of it so was in no position to deny it), but I had a shyte solicitor who I eventually dismissed and she had one who was like a dog with a bone. In the end she wore me down to the point where my health, both mental and physical, was suffering that I called it a day and cut my losses. She got 70% and I got 30% but I regained my health and sanity. She is currently in hospital terminally ill.
I bear no grudges and wouldn't wish it on her or my worst enemy but life is what you make it. I'm only sorry I didn't get out earlier.

 

[Mottie]

Now assuming a partner joined you contributing zero wealth and property etc., but with rather more income. How much would you expect as a contribution to the overall running costs, as a regular contribution?

If not a regular contribution, then how would you work things out?

At a guess, I would say just what extra it costs you for them to live there such as food, council tax, possibly heating and lighting etc plus a fixed 'rent' for living there but one thing I have heard is that you should get a rent book and make sure it can be shown they are paying rent to live there. That could save a lot of heartache down the line should things turn sour.

 

[JP_]

When i first lived with my bite wife, she was still studying while working part-time in McDonalds. I paid for rent and bills, going out, holidays etc, she took care of the food shopping. That seemed fair at the time. As soon as we married everything just went into one pot. Doesn't work in all relationships though, a couple of friends ended up in debt because their partners over-spent.

 

[noseall]

'Sharing the costs' - now there's an interesting concept. I'll run it past the wife.

I think in the end, the only thing I imparted on the missus bill wise is the yearly home insurance. She also bought our last 2 piece about a decade ago. She does buy her own fuel bless her, but I buy the car, pay for the running costs, insurance, tax, MOT etc. We have a joint account which I'm the sole putter-inner. No dramas, I'm looked after.

 

[Mottie]

Everything we earn goes into our joint account and all bills are paid from that. When it builds up, any extra is put into a general savings account to pay for things like holidays, credit card bills, household stuff etc. When that builds up, we split it and put it into our individual savings. Within a couple of hundred quid, we both have the same amounts saved up. Neither of us are stupid with money and never spend what we don't have. Any arguments we have about money is always because Mrs Mottie is too tight to spend it! If I need or want something, if I can afford it I'll buy it. Mrs Mottie on the other hand will set herself a limit for a particular item and will keep looking until she finds one that fits in her self-imposed budget. I find that annoying although if she was an uncontrolled spender, I'd probably find that more annoying!

 

[Harry Bloomfield]

At a guess, I would say just what extra it costs you for them to live there such as food, council tax, possibly heating and lighting etc plus a fixed 'rent' for living there but one thing I have heard is that you should get a rent book and make sure it can be shown they are paying rent to live there. That could save a lot of heartache down the line should things turn sour.

Oh, I couldn't do that. It would be more like having a lodger, than a partner. She will be still working, so she has more income than my pension, idea is we both contribute the same amount as a standing order into one common account to cover the running costs. As such it will be all documented anyway, as will all the spending - I don't generally use any cash. I don't want to charge a 'rent', the property comes for free, apart from maintenance costs which will come out of the combined pot.