FREE TOOL – Sharing Family Expenses


Finances as a couple can sometimes become a headache for everyone. How to divide the expenses, but especially how to carry out the calculations?

Here are three ways to share expenses:

1) 50 – 50
This method is very simple, we cut the pear in half, that is to say that each pays half of the family expenses.

If everyone’s income is similar, this method is fair, but if there is a difference in income, be sure to make choices based on the income of the person with the lowest income.

For example, housing expenses, make the purchase of a residence according to the financial capacity of the person with the lowest income, because you risk jeopardizing the financial health of this person if you exceed his boundaries.


2) According to income (%)
This method is the fairest method if the incomes of the 2 parties are different. Expenses are shared according to each person’s ability.

For example, if one has $40,000 available and the other $20,000, in this method, the one with $40,000 will contribute 66.66% to family expenses and the other with $20,000, 33.34%. The calculation can be tedious, so I prepared an easy-to-use tool.

I want my free tool

3) To each his own task
The last method is where everyone is assigned an expense and manages it alone.

The advantage of this method is that it is not necessary to have a bank account which requires management on the part of both, so it is everyone for themselves. The disadvantage of this method is more related to the greater increase on certain elements.

For example, groceries versus mortgage payments. Groceries will experience a much more sustained increase than mortgage payments, since these are often negotiated and fixed for a set period.

Regardless of the method you use, it is important that the agreement is fair and that you review it once a year or when a significant change occurs. DON’T FORGET savings for retirement when calculating the amounts available, for example, if one has a pension fund at work and the other does not, make a retirement savings plan for the one having no pension fund and decrease the amount available for that person.

Finally, with Budget Express, you will also be able to make several budgets, which will make your job easier.

Katie Lefebvre
Partner of your financial success