What is Family Budget & Expense Split Calculator?
Determines how shared expenses should be divided equitably based on the proportional income of each partner, rather than a simple 50/50 split.
How it Works
1. Sum total household income. 2. Calculate each person's % share of total income. 3. Apply this % to shared expenses.
Formula: Share % = (Person Income / Total Income).
Step-by-Step Guide
- Input Incomes: Enter monthly net pay for each person.
- List Expenses: Rent, utilities, groceries, etc.
- Calculate: See who pays what amount.
- Settle: Transfer the difference.
Example
Input: $3k vs $2k Income, $2k Rent
Result: 60% ($1200) / 40% ($800)
FAQ
Is 50/50 better?
Only if incomes are similar. Otherwise, it burdens the lower earner.
Joint account?
Consider depositing the shared amounts into a joint bill account.
Debts?
Usually, individual debts remain separate from shared budget.
Variable income?
Recalculate monthly or use average.
Savings?
Can be split proportionally too.
Conclusion
Splitting bills proportionally to income is often viewed as fairer than a 50/50 split, as it leaves both partners with a similar percentage of their income for personal spending.