Hi there! You new here? We love that you found our little corner of the web. Here at Debt Free Guys, we’re all about helping people experience the freedom of becoming debt free! Would you love to feel that relief? After reading our article below, see how we can help you more here.
What do you do if you and your partner have different incomes
When there is a financial gap between you and your partner, it can cause stress and problems. And if you have debt that can be even more of a stressor. Let us help you eliminate your credit card debt with this free 7-Step Credit Card Debt Slasher.
How can queer couples with different incomes successfully manage their money together? It’s easier than you think.
Is it possible to divide household expenses when incomes are vastly different, so everyone pays their fair share? Recently, a podcast listener sent us this question: My husband and I have different incomes. What’s the best way for us to manage our money together? Thank you for the question, Ash. We have some experience in this, so today we are talking about how couples can meet all their monthly obligations so that everyone is paying their fair share, even when there is a disparity in incomes. We’ll walk you through the three primary ways couples can divide expenses and discuss how your system for divvying up might change as your relationship evolves.
On this episode of Queer Money®, we give our pro tip for making sure you cover all your set expenses while easily managing those that vary, like utilities and dining out. Plus, we share our experience and what has worked for us in managing our household finances.
Our tips for managing different incomes:
Topics covered on how to manage different incomes
- When do you expose your true financial picture to your partner?
- How Prince Charming Syndrome keeps you tied to money lies
- What is the most common way couples divide expenses?
- When should you split expenses and when should each person pay what they’re responsible for?
- What’s the most important thing to remember when sharing expenses?
- What method works best when you have disparate or very different incomes
- How to work things out so each partner feels like they are covering their fair share
- Our pro tip for paying the set monthly expenses vs. those that fluctuate monthly
- When does a hybrid between the 50/50 and the percentage split work best?
- How divvying up evolves as the relationship progresses
Connect with David and John
- Debt Free Guys on Facebook
- Debt Free Guys on Twitter
- Debt Free Guys on YouTube
- 7-Step Credit Card Debt Slasher
- Queer Money Facebook Group
- Queer Money on Instagram
- Subscribe on iTunes
- Email [email protected]
Watch below rather than listen to this Queer Money®:
How can you get more Debt Free Guys and Queer Money®?
Learn to level up your income and make more money here:
- The State of LGBTQ Financial Wellness
- 37 Best Tips on How to Become Debt Free
- How to Pay Off Credit Card Debt
We’re David and John Auten-Schneider, the Debt Free Guys and hosts of the Queer Money® podcast. We help queer people (and allies) live fabulously not fabulously broke by helping them 1) pay off credit card debt, 2) become part- or full-time entrepreneurs, and 3) save and invest for retirement.