It’s a question that many men want to discuss but can’t in the open. How do the costs of life split between you and your partner? If you’re both making the same money, is it 50-50? Or do you each handle certain categories of expenses without getting into the details?
We pool everything into one account. Pay everything by sitting together and going over our expense.
We discuss every purchases that costs over 1000 and only then place the order unless it is an emergency or for food.
I pay all the bills and expenses. My wife pays the house EMI. Apart from that, we also maintain our expenses daily in a google sheet shared between both of us. This gives us insights on our investments and expenses at a daily level.
Idea is to investment atleast a minimum of 70% of our total income every month.
What? 70%? How much are you guys earning collectively for this to be possible?
No such criteria to split as such. I pay for almost everything form my credit cards. She pays for her normal txns using upi. That’s it mostly. Whatever money we have is family money and not mine or her. Keep it simple bro, don’t over complicate things and don’t bring egos in between. You have to live together under same roof for many decades. We both have our say in case of making any big purchases.
For eg: I have paid off her education loan (she took before marriage) since I had money in the bank. Why pay 9.5% interest on her loan when I am getting return less than that on money in my bank account. Every earning is family earning and every liability is that of family as well.
agree. btw - how long have you been married ?
All the bills and necessities I pay for, but I live with my parent (WFH) so no rent or anything.
Apart from that I give my wife 15k every month that she can spend however she likes my expectations are that she saves that money and invest at the end of the year.
I have also given her a credit card which she can use for anything, the OTP comes to my phone so if I see any significant spend i.e above 5k I ask her about it otherwise I just send her the OTP
We have an axio (walnut) group via which we split all the common expenses like bills, rents restaurant visits, and even rickshaws etc. Whatever else is each's own money, so either of us can spend or save or invest however they deem fit.
