@nobudgetbabe: 50/50 may be equal but it doesn't always mean it's equitable, especially in instances where one partner makes significantly more than the other. Imagine a scenario where one partner is making $40k/yr working full time, and the other $150k. A $2000/mth rent expense would feel very different at each income. If you're committed partners, then ideally you don't want to be "doing better than your significant other" - where you're "eating filet mignon and they're eating hot dogs". The way to help make the splitting of the bills fair is to look at the equitable way to break them down. Ultimately, there's no right or wrong way to do this - the only way that's truly wrong imo is when one party is falling behind financially trying to keep up with the lifestyle that the higher earner can easily maintain. If you're making more money and you don't want to split bills equitably, then your shared expenses should be based on what the lower earner can comfortably afford. Getting on the same page financially is the first step to truly getting ahead with money. Keep learning with our free money trainings, find them on our website under FREEBIES 🤍

Nicole Victoria | Money Coach

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Monday 29 July 2024 13:31:55 GMT