How to split bills when you move in with your partner

Rent and bills are easy to sort out for individuals who live in rented houses with roommates. Bills are evenly split out but things can get a little complicated when couples are living together. There are a number of ways in which couples can split the bills and what is required is to weigh the method that best suits them at each stage of their relationship.

Equal split

This is very easy and clear cut method of dividing the bills fairly. All people pay the same amount irrespective of what they earn. This method best suits couples with varying incomes and those who have just moved in together and might be testing their relationship. The advantage of this method is that it makes it easy for the couple to live in a fair lifestyle that does not strenuous to a low income earner.

Merge of income

The method works well for couples who are house owners and it simplifies their mortgage payments with one direct debit from the same financial account. Joint accounts happen once couples are married, have children, or buy property. One disadvantage is that one has to account for each amount of money spent. It is therefore not the best for those who wish to enjoy financial freedom.

It best works for couples who have joint expenses and those who own houses. The advantage associated with this method is the ability to understand financial situation since it gives clarity of funds.

Splits on income basis

This defines that the person who earns more pays more. This ensures that a person doesn’t compromise on. It is also applied on pro rata system where one can be assigned the bills that he mostly uses for example a person who works from home and uses a large bandwidth of the household internet data pays more than the other who minimally uses it. It best works for couples with varying incomes. An advantage of using this method is that a lot of resentments that couples feel towards each other are eliminated when they are asked to pay for what they don’t use.

Full support from one income earner

This is a method commonly used when a member of the couple does not work or if he or she has irregular income. It requires proper agreement to ensure that the major breadwinner does not feel exploited. It best suits couples where one partner works and the other does not. It enhances simplicity in that only one source of income is assigned living costs and bills.

Tips for the success of these splitting methods

Honesty and proper communication

Honesty is very important as well as letting your partner know your concerns on the splitting issue. Money issues break a lot of relationships and bearing this in mind, couples should hold open and honest conversations.
Choose a method that works for you
Couples should choose a method that best works for them and should not base their splitting beliefs on the experiences of other people.

Be adaptable

If one method works for you at one stage and later the status of your relationship or income changes, the members should be flexible and adopt a new method that suits them at that given time