I participated in two awesome carnivals this week:
Carnival of Twenty Something Finances at How I Save Money (Editor’s Pick!)
Carnival of Personal Finance at Fiscal Geek
Happy Thanksgiving Eve!
One of my readers, Blair, asked:
I have a question – Do you and Lloyd have a joint budget, or do you keep them separate? How do you split bills… is it even, or is it based on salary?
Thanks for your question, Blair! I meant to write a post about this awhile back, but never got around to it…
As geeky as it is, Lloyd is even more obsessed with his finances then I am (we’re a match made in PF heaven!). Before we moved in together, we had several talks on how we would split the costs.
All Things Equal
In my humble opinion, I think each man and woman should pay the same amount for the same things and should not be penalized for making more money. Lloyd feels the same way. We actually do make about the same right now, so that makes things even easier.
We split everything – rent, utilties, cable, water – right down the middle. I think this is the right way to do things, but I know that some people split rent differently based on income, size of bedroom, etc. Splitting expenses down the middle works the best for us.
Bonus: I get some pretty nice credit card rewards, so all the utilties actually flow through my credit card. However, we take that into account when we pay rent. My actual rent check is always smaller than Lloyd’s since I’ve already paid for the utilties. When you add each of our total expenses up though, they come out to the same amount per month.
We Eat A Lot
The first month or so that we lived together, we attempted to grocery shop seperately. When you’re living together as a couple, this does not work. We quickly realized we need to start splitting the costs of dinners and other household essentials.
We go to the grocery store every Sunday and have three orders: joint order, his order, and my order. The person that foots the cost for the joint order switches from week to week. But, we still keep a spreadsheet of how much each weekly joint order is so one person doesn’t end up paying more than the other in the end.
Lloyd and I like to eat pretty healthy, so weekly grocery shopping is a must for us. We prepare breakfast, lunch, and almost all our weekly dinners at home (as much as it pains me since I’m not a fan of cooking). We have the joint grocery shopping down to a science now, but it’s still pretty annoying! But…that’s coming from a person that dislikes grocery shopping in general. 😉
At this time, Lloyd and I do not share a joint budget. There are many reasons for this, but mainly because our finances are not combined. We plan to combine our finances when we’re married, but I do not think we should until then.
How do you share the finances with your significant other?
In other news, I particpated in two carnivals this week! Please click on over and check out these carnivals!
Check out this week’s Carnival of Personal Finance at Credit Cards Blogs.
My article was chosen as one of the Editor’s Picks! Right below Get Rich Slowly! The personal finance geek in me is outrageously proud right now. He he. 🙂
UPDATE: Wow! Double Whammy! I was picked as the editor’s pick in another carnival, too! Please go check out the Carnival of Money Stories over at M is for Money. Thanks!
PROTECTION: No matter if it’s midmorning or midnight, I always carry pepper spray when I go for a run or bike outside. I’ve heard too many horror stories of poor girls getting attacked while they’re outside working on their fitness. Invest in an $8 bottle of pepper spray at the local hardware store and put yourself at ease when you’re outdoors. It also just helps to know your surroundings and avoid listening to music when you’re in a secluded area. Another good thing to have is at least one sturdy knee – a swift knee-to-the-groin will hopefully send even the craziest weirdos running in the opposite direction.
SHOES: After buying “cheaper” shoes that didn’t fit and subsequently injuring my knee, I’ll be benched for who knows how long. Choose shoes that feel comfy and fit you well. Too big is always better than too small as your feet tend to expand during workouts. Since your feet are absorbing the impact for most cardio exercises and a lot of weight-bearing exercises, you’ve gotta have something to support that smokin’ hot bod of yours.
SOCKS: Seriously, socks are important. I don’t know how many times my cheap-self has tried to forgo buying new socks for a couple more weeks only to walk out of the gym with blisters bigger than I ever thought could exist. I’m not saying you need to go out and get super-special socks or anything. Just try to avoid the holy socks that are so worn down they’re basically 5 white threads barely weaved together. If you can’t muster up the $2.99 for an entire new pack, you can always wear 2 pairs of socks. That should do the trick. (Lord knows I’ve donned 2 or even 3 pairs back in my college days.)
SPORTS BRA: Ladies! *shakes head* Even if you’ve got small ones, they’re prone to bouncing a full 180 degrees when you’re huffing and puffing in Step class. Stop the madness! Get yourself a smasher, a compressor, a harness, WHATEVER it takes to lock those bad boys down. No one wants to see that except for the perve in the back of the class – and trust me, you don’t want to give him any more material than he’s already got. Ew. On a more serious note: a good sports bra will save your back and keep the girls in tip-top condition. An extra $20 is worth it to prevent the pancake effect of your elder years.
SUNGLASSES: No need for the $100 Oakley’s that people who are bad with their money usually wear. Most of my sunglasses are in the $10 range from Target. Make sure you get a wrap-around pair as the whole point of the sunglasses is to save the skin around your eyes. (Don’t forget sunscreen!) Did you know that the sun can hurt your eyeballs, too? Call me crazy, but I’d say my eyeballs are worth at least a $10 pair of shades.
What do you splurge on to keep your work outs going strong?