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Question By
isr007

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What is best way for couples/married people to split household bills/grocery/going out money fairly?
What's the best way to calculate a percentage of who pays more or less based on income...

Example;

X makes $70k, Y makes $30k.
Bills- mortgage/cars/insurance/groceries/etc-- what's fair percentage for X to contribute since X makes signifianctly more.

Thanks!

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If you are Married there is no splitting the bills. You are a Team,  you have access to his stuff,  he has access to your stuff.   You put the monies in one account and pay the bills from there.

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Although it is nice if each party has "discretionary" monies they can spend any way they want without having to account for every item. Nice gifts for spouses often come out of such funds. 

Credit Karma Team
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Here are some tips Credit Karma has compiled for couples: https://www.creditkarma.com/article/financial-tips-for-couples and this is an article about important money conversations to have with your partner: http://blog.creditkarma.com/personal-finance/4-conversations-couples-should-have-about-money/

Each couple will handle their finances differently. There is no right or wrong approach - you must work with your partner to find an arrangement you are both comfortable with. 

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