Comments on: Working towards financial independence with a partner who spends more than you https://mrsmoneyhacker.com/financial-independence-with-a-partner-who-spends-more-than-you/ Helping people view money differently while chronicling my own path to financial independence in Ireland and Canada Sat, 16 May 2020 19:00:58 +0000 hourly 1 https://wordpress.org/?v=6.9 By: Meagan https://mrsmoneyhacker.com/financial-independence-with-a-partner-who-spends-more-than-you/#comment-122 Sat, 16 May 2020 19:00:58 +0000 https://mrsmoneyhacker.com/?p=998#comment-122 In reply to Klaus.

That’s great! Money problems are a major stress point in relationships so it’s great that you realised it so early on and addressed it in a productive and compromising way.

]]> By: Klaus https://mrsmoneyhacker.com/financial-independence-with-a-partner-who-spends-more-than-you/#comment-120 Sat, 16 May 2020 09:05:31 +0000 https://mrsmoneyhacker.com/?p=998#comment-120 Thank you for this interesting post! Reading it, reminded me of a rather same road I have been travelling with my wife from a financial point of view. She was really looking at the money, I was spending it. 🙂

Before we got married we did some kind of test for certain areas in our life, which we should focus on. It’s called Prepare/Enrich, I think – and this helped us to find out that on certain parts in our life we should move towards the other person, otherwise it would always be a stress point in our life. I don’t want to advertise it here, but it might help others. So I tried to get some financial education, she tried to be more relaxed and move towards my position. This helped us a lot. We bought a house, we save money every month, buying stocks and etf funds. We merged our finances and it works for us.

]]> By: Meagan https://mrsmoneyhacker.com/financial-independence-with-a-partner-who-spends-more-than-you/#comment-116 Mon, 11 May 2020 19:15:54 +0000 https://mrsmoneyhacker.com/?p=998#comment-116 In reply to Simon.

Hey, eek, that sounds like I’ve come off as totally unfair, I’ll try and update. Basically, when I wasn’t earning I used my savings or the “debt” swung the other way until I was back to work. The only time I considered Mr. MH cover my expenses rather than dwindle our savings was when I was contemplating becoming a full-time stay at home mom which would have been a joint decision that we felt was best for our family so slightly different than me just being off work temporarily.

It sounds like you have a good system and probably a lot easier to maintain than my method of tracking and splitting expenses! Great that you have found something that works where both parties contribute a percentage of their earnings and have the rest to spend guilt-free.

]]> By: Simon https://mrsmoneyhacker.com/financial-independence-with-a-partner-who-spends-more-than-you/#comment-115 Mon, 11 May 2020 15:02:11 +0000 https://mrsmoneyhacker.com/?p=998#comment-115 Interesting post and highlights the issues that can arise when one person in the relationship is earning more than the other. It reads like he was building up a debt to you when his earning wasn’t keeping up with yours but that when you were no longer earning you were expecting him to cover everything (appreciate the relationship had moved on also).
What we find works best for us is that we have a joint account which we pay for mortgage repayments, groceries, household bills as well as all medical and transport expenses. We save up in this account if we need to do any home improvements etc. We each contribute different amounts (about 65% of our gross earnings) and it is relatively easy to keep track of each person’s contributions should you be inclined. Our contributions are a good bit more than the monthly outgoings so we are saving money. The remaining money that we each have, we are free to spend ourselves and that is used for social life, food (other than cooked at home), holidays, clothes etc. We used not to cover medical and transportation costs from the joint account but felt these weren’t things to be trying to skimp on and each of us were almost happier to cover the others medical expenses than our own!

]]> By: Meagan https://mrsmoneyhacker.com/financial-independence-with-a-partner-who-spends-more-than-you/#comment-106 Tue, 05 May 2020 18:46:24 +0000 https://mrsmoneyhacker.com/?p=998#comment-106 In reply to David Goggin.

Hi Dave! Thanks 🙂 Yup it definitely took time and maybe if we had discovered FIRE sooner we would have gotten here sooner but this was our journey 🙂

]]> By: Meagan https://mrsmoneyhacker.com/financial-independence-with-a-partner-who-spends-more-than-you/#comment-105 Tue, 05 May 2020 18:45:21 +0000 https://mrsmoneyhacker.com/?p=998#comment-105 In reply to Russ.

Hey! Thanks 🙂 Yup we’ve had pets over the years and currently do. We discussed in advance and agreed the split would be 50/50. Having pets was something we both valued and so splitting 50/50 was an easy choice. Most ongoing costs were split 50/50 like food and housing. For transport, we only ever had one car to share so whoever had the most commute would pay 75% or 90% of the transport costs. If we had joint journeys we’d split the petrol etc. It was mostly entertainment costs that we didn’t split in terms of nights out and sporting events etc.

]]> By: David Goggin https://mrsmoneyhacker.com/financial-independence-with-a-partner-who-spends-more-than-you/#comment-103 Tue, 05 May 2020 15:33:37 +0000 https://mrsmoneyhacker.com/?p=998#comment-103 Interesting blog, i do believe to move forwards both people in a relationship must align their goals and direction which can take time! FIRE movement can help plug the knowledge gap!

]]> By: Russ https://mrsmoneyhacker.com/financial-independence-with-a-partner-who-spends-more-than-you/#comment-102 Mon, 04 May 2020 21:52:24 +0000 https://mrsmoneyhacker.com/?p=998#comment-102 Interesting post! Do you or did you ever have pets over the years?
If so what was the equity split for your pets?

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