5 Ways To Splitting Finances In A Relationship

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Trying to figure out how splitting finances in a relationship should look like can take some work. It’s very easy to go with a method that you’ve seen work for your parents or one that your other friends who are couples often rave about.
Today we’ll be sharing 5 ways in which you and your Partner can split and manage your finances. It’s important to remember that there’s no one-size-fits-all when it comes to this, but there’ll definitely be a method that works for you and your relationship.
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ABOUT US
We’ve been married for a few years now and are super passionate about sharing the things we’ve learnt along our journey with others.
Money is one of the leading causes of separation and divorce & if we can help at least one couple navigate their finances in an effort to stay together, then we’ll be happy.
Thanks for watching.
Thando & Lindie.
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All Skilled Finances content and products are for educational and informational purposes only and should not be taken as financial advice. Any actions you take should be done so on your own judgement and at your own risk. It is recommended you seek financial advice where necessary.

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Опубликовано:

10 авг 2022

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Комментарии : 61

@skilledfinances 11 месяцев назад

Check out our FREE Couples Budgeting Guide to get you started :) skilledfinances.com/freecouplesbudget

@AlliNW0nderland. 11 месяцев назад

Joint & Separate spending accounts are great! Alongside joint expense planning. I love it! Budgeting is my favorite thing to do and planning major expenses for 2-3 years

@kattmessex8435 10 месяцев назад

This is exactly the type of content I was looking for to share with my partner! Thank you so much for taking the time to make a video that was detailed, but also very ‘to the point’. Much love guys. ❤

@lifeSounds. Год назад

Thanks for the advice, my partner and I will be taking this into account 🙏🏾 looking forward to future videos!

@shannonichikawa Год назад

Thank you! So helpful - my partner and I do this but I love how clearly you lay it out so I can help ppl in relationships x

@edinaguveya2338 Год назад

Skilled Finances Jewels Thank you for airing out options for couples finances. Conversations is the beginning of all things, there is no teamwork without communication. I loved the putting all incomes together, it really matches the declaration of marriage: two shall become one, they are no longer two but one. Money shouldn’t separate us. Thank you our SFJewels ❤

@easyfavour Год назад

Very detailed. Thank you

@topladtv6560 11 месяцев назад

This is very insightful! My parents also combine entire money but they communicate about it alot.

@suzewe9465 6 месяцев назад

Thank you. Great advice 😊

@joytaura1953 Год назад

Thank you 💘

@Angel_Blanjardy 11 месяцев назад

Shared finances because I have a team mindset. I want us both to share similar goals so that we can build a stronger relationship. It’s just my idea of team building

@goofysnowoman6857 Год назад

Currently my boyfriend and I do a 50/50 split into a joint account for everything but cars, debt, and spending. We save towards the same goals but I save in cash and he is completely a card user. So far its working for us but we love revisiting plans often (actually right before each paycheck lol)

@ojsindher3299 3 месяца назад

I liked the way you explained it and how you made sure to highlight the importance of communication for a healthy relationship. Thank you.

@TB-fk4qm Год назад

Great video 🥰

@leldepoklikajeva1377 10 месяцев назад

Thank youu!🙏🏻

@Thebluediamoundvision831 9 месяцев назад

Very good advice

@babitabhusal1359 Год назад

i am happy and willing to see more of your money advice videos. thanks.

@skilledfinances Год назад

Thank you, that really encourages us to keep going.

@KieraVanesse 11 месяцев назад

This is a great video!! Thanks for this. My partner and I are planning to stay together in about a year, we have been together for 3 years but are young and still have so much to learn about ourselves and each other. I think that I would initially like to keep things separate and just work together to make sure we are paying our bills and then set aside a budget for saving for a home together that way we can both learn as we go.

@skilledfinances 11 месяцев назад

Sounds liek a good plan to start with :)!

@obiwuruchisom 5 месяцев назад

Thank you for this video. With the joint money mindset, does that mean that every income should be channeled into the joint account?

@knowledgeis5855 Год назад

Combining short term expenditures is all good. But long term thinking such as retirement planning. Investing planning. Its very hard when your other half has no clue and even worse no interest. How can you plan when mentally you are on different spectrums of knowledge.

@marionshaikh6734 Год назад

Thank you for this great advice. This will only work if your partner is a normal human being. My partner is not even a person, so not sure this would work. I´ll give it a go anyway.

@skilledfinances Год назад

Hopefully it’ll help

@sherbert17 10 месяцев назад

My boyfriend and I have been doing the 50/50 split for about a year now, but I just got a job where I make a lot more than him. Before now I'd been making less, but because my parents always had a " joint money mindset" as you said, I didn't mind so much. But now that I'm making quite a bit more than him maybe the income-driven split would work better for us, especially since we are not ready to get a joint bank account yet.

@skilledfinances 9 месяцев назад

This is common! If you haven't yet, check out our free couples budgeting guide which explains how to do the income split budget. skilledfinances.com/freecouplesbudget

@user-no5vv4bb6e 4 месяца назад

Hopefully you keep that same energy if he ever makes significantly more than you.

@wendymurangi 4 месяца назад

New subscribe here ❤❤

@periskahura6551 6 месяцев назад

Talk about splitting chores. Is it 50/50 also?

@skilledfinances 5 месяцев назад

The beauty with Couples Finances is that there are various ways to manage finances. If the 50/50 split works, then that's great. If it doesn't then the couple can discuss other ways in which they can manage their money and go with what works for their relationship.

@amyrichards5484 7 месяцев назад

I have a question: I moved in with my partner. He did not want to redecorate from the previous owners of this rental home. As joint rental owner I have to pay single-handedly for decorating to a 2000 style instead of 1975. Next to this he wants to go 50/50 if we go out. I make suggestions to pay for the meal and the public transport. This makes the 50/50 rule slightly change to 48/52. He has a problem with the cost of the bus. I am not forced to pay for all to avoid his complaining. He is turning into a complaining hormit. What tips have you for me?

@ygmistique8155 Месяц назад

Leave!

@mariammelkonyan9553 23 дня назад

Well, as for the decoration problem, if you plan to not live long in that home maybe really no need to spend money on it? Or to do the very critical parts of home only. About money problem lets go back to our roots... So men were the hunters and the providers of home ALWAYS until the last decade or two when moral and family values got devastated in society.... and that's the way a real man should think! Once Steve Harvey, reacting to a man's wish to split the meal on the first date, told: "If the man can't provide you with a plate of meal on the first date then how you expect that he'll provide for a family?" And for me its not about the first date only... A man should be caring, expecially emotionally, with open heart and packet, considering the woman is wise, you have same life and family values and goals and treatment to money... You subconciously offered him to be the "provider" of the home with 48/52 but he refused to be, prefering to be cheap but wealthy for just 2%! So its better to gain self confidence and leave, while you're young and no children. He will always find something to complain about.

@lisettelopez4904 5 месяцев назад

I don’t understand the second way of splitting the income. Can you elaborate? Do we divide our income with the total expenses or our own expenses?

@skilledfinances 5 месяцев назад

The second style is called the Income Split Style and it focuses on splitting shared expenses (for example rent/mortgage, utilities, groceries - basically any expenses or bills that are shared)based on how much each person earns rather than 50/50. For example let’s say the total shared expenses came up to 2000. One person in the relationship earns 2500 and the other earns 1500, the total household income would be 4000. Person A earns 63% of the total income and Person B earns 37%. The shared expenses would then be split according to those percentages. We do have a Couples Money Course which breaks this down. It can be found at course.skilledfinances.com

@IsabelCguerreroG Месяц назад

@@skilledfinances I was thinking this is the way that will work for my boyfriend and for me, however, I do not see the 'debts that each one has compared to the other considered as a factor. Let's say an example: Person A makes 10K a month and person B makes 4K a month. But person A has student loans and debts that are only from person A and person B is almost debt-free. so it would be fair to consider person A income before deducting their personal debts correct? In simple words: before adding up the incomes we have to subtract the personal debts of each one correct? then get the percentage and then get how much each one will pay into the common expenses (rent, utilities, groceries etc) correct?

@Kamsi-yj7si 9 месяцев назад

The greatest empowerment every woman should have is being empowered financially and mentally. This way you will be at the top of your food chain. Being finally free is one thing every woman should be looking after. I wasn't financial free until my 40’s and I’m still in my 40’s, bought my second house already, earn on a monthly basis via my investment and got 5 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made. Great video! Thanks for sharing! Very inspiring! I love this.

@ifeomaezenwa296 Месяц назад

Hello Dear, I read your input from this channel and I must tell you, you inspire me. I'm nearly 40 just started earning money and trying to clean up my shit. I want to start investing in financial market but don't know where and how to start. Pls can you direct me what to read to gain knowledge, videos or lessons to watch. Plsss. Thank you

@sagarbhatt86 29 дней назад

What in case of divorce if we spend like this ? She is going to claim 50 to 70 prevent

@dzauxusa4108 6 месяцев назад

I have a question, when you go give a birthd or you got sick, going to school fr a year does this mean your partner gonna own you money . So the bills that you didn't pay , like he gonna pay everything and after you will paye him back 😂 "without interest" he said thank god hhh for me he is my husband .

@skilledfinances 5 месяцев назад

It's important for Couples who don't combine their finances to sit down and have an honest and frank discussion about how everything will work financially if for example they have a baby or one of them gets sick or one of them decides to go to school as you mentioned above. It's important to be on the same page about this.

@ygmistique8155 Месяц назад

@@skilledfinancesYou need to mention when a partner deceives and the partner finds out bills not being paid until the bailiffs comes knocking on the door.

@DIAMONDGIRL57 5 месяцев назад

Split shared household expenses by percentage of total income is fair!

@user-no5vv4bb6e 4 месяца назад

What if she makes significantly more?

@Van57357 2 месяца назад

My girlfriend earns 3x times my salary... we do a 50/50 splits because it's fair, but it drains me financially, and I end up living cheque to cheque trying to keeping up. If i was earning more as a man, it would've been easier to take care of her & things, but in reality she earns more. So it would feel weird to ask her as woman to handle little more things. I wonder how couples in my situation handle things

@IsabelCguerreroG Месяц назад

Gender stereotypes are very ingrained since we grow up, It's not our fault how we were raised but after adulthood, you can decide to change the mindset or not... you are both ''man'' huMAN. You got this dude :)

@ygmistique8155 Месяц назад

You can't afford 50/50. Simple as that!

@rvalyfe7780 Год назад

7:18 this doesn't work lol especially if the person paying the least of the expenses are more free to splurge than the one covering the larger portion of bills.

@skilledfinances Год назад

We’ve actually come across different couples who use all different methods mentioned in this video. What we’ve come to understand is that what may work for one couple may not necessarily work for another but what matters is each couple being on the same page about what works for them.

@TanveerAhmad-qd5si Месяц назад

What if you and your partner earn the same amount of money and your expenses are the combination of both the incomes but your partner tells you to be a man and take the responsibility of everything and the baby. Her savings are more than yours but should you throw all your savings in and try to be a man and take full responsibility for everything?

@user-no5vv4bb6e Месяц назад

If y'all know yourselves, and you know you both aren't traditional or want to adhere to traditional gender roles, be modern w the relationship via splitting bills and house duties, which tbh can be an ethical means to going about things. Now, in saying all that...umm, yea, most women don't give a shit about rationals or ethics when their emotions are involved. By the looks of the thumbnail for this video (that I'd be willing to bet she made lol), mate she doesn't look too happy about this setup. - Dude in the comments

@lr4973 8 месяцев назад

50/50 roommate who asked who to marry ??? Maybe 80/20 don’t give the man the opportunity to have a luxury expense side dish , not my type of method I’ll stay single or like you mention have a roommate thanks Sprinkle Sprinkle Sheraseven method.

@havocgr83 4 месяца назад

80/20…? Basically you’re saying women should keep their money and a man has nothing? Then some women don’t want to follow the man and yell their independent but want a man to pay their bills and now days pay for the expenses of another man’s kids 🤔

@user-no5vv4bb6e 4 месяца назад

Shut the hell up