How to Manage Household Bills as a Couple

Tot up your outgoings

One of the first things you should do when you move in together (after the celebratory takeaway, obviously) is look at what each of you are committed to spending each month. If one or both of you is leaving a property, you’ll need to cancel all bills linked to your old home, such as rent, council tax, utilities and internet. There’s a good chance you’ll see a bit of crossover, which leads nicely on to tip number two…

Merge your spending

Both paying for Netflix? Got two separate Spotify accounts? Both spending a chunk on a weekly shop? Not any more you’re not! Merge anything that you both pay for and cut your payments in half. Family plans can save you loads of money on plenty of different accounts, while your shopping bill will go down a lot by sharing food and essentials.

Create a shared pot

While it might feel a bit too soon to open a joint bank account, you could create a joint pot in one account where all your bill money goes. That way you can both put money in it at the start of every month, then as bills go out, take money out of that pot to cover it. This makes it much easier to track how much you’re spending, and makes you both accountable for the way money is managed. Who said romance was dead?

Make it income appropriate

Who’s earning what? If one of you is bringing in a bit more than the other one, it could make sense that they contribute a little more to the bills. We’re not suggesting one person pays for everything, just that things are split fairly. Let’s say you earn 10% more every year than your partner – you could contribute 10% more to the household spending. This conversation might sound a little tricky, but true love really can conquer all, promise.

Get on the same page about the essentials

There are some things every modern household needs, like heating, internet and a TV subscription. But other essentials might only be essential to one of you, such as the electricity spent on an iguana terrarium, or the monthly subscription to Lizards in Review. We’ve been there, ok? If only one of you wants something, continue to the next tip, or discover the ultimate word for couple harmony: compromise.

Shared v individual spending

Some things will be used by both of you, so should be covered by both of your money. Other things will only be used by one of you, so should carry on being covered by your individual money. Not only does this keep things fair, but it also allows you to carry on being an individual without feeling any guilt.

Use Split The Bills

You didn’t think you’d be able to make it through this whole blog without a bit of a plug, did you? With Split The Bills, you can easily manage your household bills in one handy place, taking the headache out of financial planning and leaving you with more time to do what you do best: be a smushy, loved-up, occasionally sickening couple. Get a quick quote here.