My partner moved in with me about 4 months ago, and wasn't working for the first three of those months, so I was supporting him on my part time wages. (Before he moved in I was being supplemented with benefits that I am no longer eligible for.)
He now works full time with a decent pay rate.
He moved in with me so everything (tenancy agreement, power, Internet accounts) are all in my name. I accrued a small amount of debt while he wasn't working, just to support us both and our baby.
When he first moved he offered to split everything straight down the middle which seemed fair, however that uses up my entire wage packet, not allowing me to pay off any debt, or put away any savings, while he still has a few hundred to keep to himself. (Which he mostly spends on fast food or other meaningless things)
My question is, is this still a fair agreement? How would you do it? And how would you approach it with your partner? TIA!
8 Replies
I think in living situation you need to take in account how much each of you earns. If partner earns a fair amount more then your then bills should be split accordingly. I'd suggest 40/60 or ever 30/70. I think that is extremely fair, especially if you are unable to cover repayments for your debt.
I think 50/50 splits are ridiculous especially when there is a child involved. You supported him financially when he moved in. There should be no his money and my money, it's the families money.
Renegotiate. Pool the money, he should be helping to pay the debt off, because he helped incur that debt.
A lot of people have very differing opinions on this. I personally believed that as soon as we had our bub and officially a 'family' that everything was joint.
We have a joint account. All our money goes in then bills get taken out and we budget what our 'pocket money' is and that goes into our own account to do with as we please.
I find it works quite well. But again, everyone has their own opinions.
I definitely think you need to discuss options with your partner. It's not fair.
Agree 50 splits are ridiculous. You supported him through a. Tough time now he's leaving you broke while he's got cash in his hands... Not quite the same is it. but then if yourmoney's not split, you shouldn't give it all and run up debt to support him.
I also think you need to take into account how centrelink would treat this. If you got sick and couldn't work centrelink takes into account the families income, not your income alone, just like when your partner was out of work. This 50/50 stuff is just unreasonable when you take into account all of the things that happen in peoples lives. Illness, job loss, one person having the capacity to earn a lot more, childcare, sick days due to sick kids etc. It is a joint debt no matter whose name it is in.
He's your partner. His money IS your money. Get a joint bank account, maybe? I've never had one with my partner, but he's never considered his money, HIS money. It's ours. So majority of the bills etc come out of his wage as he earns more. I cover the smaller things. We've always done it this way. Does not sound like you're in a relationship, more like room mates.
I think its fair that you both go halves. Its hardly his fault that he earns more then you is it?
No that's not fair especially if u supported him for 3mths and incurred debt. Put him on the lease for starters and work out a split of finances so that u both have the same amount of left over money. Set up a joint account for all the bills to come out of (that he contributes more to). You live together and have a baby, you are a family now and money should not be separate apart from personal spending accounts