My partner is moving in with me soon. I have 3 children and my family payment will reduce by $100 per week. My budget is tight and that's a lot to me. He has no kids. What's a fair split for finances? We don't want a joint account.
My partner is moving in with me soon. I have 3 children and my family payment will reduce by $100 per week. My budget is tight and that's a lot to me. He has no kids. What's a fair split for finances? We don't want a joint account.
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4 Replies
There is no fair split. He will always have more spare cash than you (if he doesn't have kids) and it will cause problems as time goes on. Either you will resent him because he will want to be out spending his cash and you wont be able to join him. You will also begin to resent him because you will have less money due to his wage! Then he feels held back because he wants a more expensive house but you can't afford to pay your share.
Some food for thought:
if he wouldn't support you and the kids financially if you got sick or lost your job, and you wouldn't support him financially if he got sick or lost his job then don't move in, because if something happens then you will be left destitute.
Also if you are not currently working and will have to pay your way with family payment then do not do this. It is unworkable.
PS what if you got pregnant by accident or otherwise, would he financially support you? It might sound like a lot if what ifs but every month or so a mum writes in saying she's broke because she moved in with a guy and lost a huge part of her income and can't survive
Your budget maybe tight now but how dedicated is this man? Does he intend to 'step up to plate' with your kids?
He pays half rent, you pay half rent (there's a saving for you). Food, unless he wants to cook his own meals and prepare his own food and separate that stuff, you pay half the food each (possible saving for you, depends on his tastes), power is half each. There are only 2 adults in the house when it comes to finances and paying for things so in my view the kids shouldn't come into consideration. If he is serious enough to move in then he should (again in my view) support you and your children. I get that they aren't his but he has to expect they will change his life or he shouldn't be with a 'ready made family'.
I was a single mum once too and had someone move in to quick. We stuck it out for 8 months but it didn't work because he couldn't accept my lil one.
Hope it works out for you! Xoxoxoxo
How will you only lose 100pf unless you're rorting the system. And really isnt this something you should sort out before he moves in.