Give Me Back My Five Bucks

Currently browsing: relationship

Splitting Expenses With Your Significant Other

Before RD and I moved in together, we had a talk about how we wanted to take care of our household expenses. It was an interesting conversation as we chatted about what did and didn’t work in past relationships when it came to money.

In relationships, there are generally three ways that couples split costs:

  1. Split evenly – expenses are split down the middle, or you take turns paying.
  2. Split according to income – expenses are split proportionately, based on income.
  3. One person pays for the majority – well, self-explanatory.

Prepping veggies for dinnerWhile I’ve lived with boyfriends before, there was always a pretty significant difference in income. In college, I lived with someone who was already established in a career. He paid for most things because he knew I couldn’t really afford to. But once I started working, our incomes aligned a lot better, and we started splitting things evenly (to the point where we had a very detailed spreadsheet of expenses).

Then there was an ex-boyfriend who I financially supported during the last year of our relationship when he quit his job to go back to school. And Nic, who was a student – I paid for most of our dates, and while we lived in Germany, he paid for a bigger portion of our rent. We probably ended up pretty even in terms of splitting expenses over the course of the relationship – it just fluctuated based on each other’s income level at the time.

My relationship with RD is unique to me because I’ve never lived with someone where we’ve been in the same place financially (he makes more at his full-time job, but I make up the difference with my freelance income). Not only that, but we have the same sorts of spending habits. So it seemed logical that we split our expenses evenly, right?

Kind of.

What I didn’t want was to have a spreadsheet going and track expenses down to the penny. I’ve done it before and it really seemed to take the romance out of “treating” your partner to something. But I still wanted our expenses to be fair since we have no plans to combine our finances anytime soon (I like the idea of combining certain aspects of your finances together, but always want to keep some things separate – even after marriage).

Here’s what we’ve come up with:

  • We split rent 50/50 ($1,650/month)
  • I pay for the internet bill ($65/month)
  • RD pays for the hydro bill ($50/month)
  • We take turns paying for groceries, and reconcile our receipts once a month
  • We take turns treating each other to meals out

We don’t track every dollar we spend and I like it that way. Our day-to-day spending is quite relaxed. If we need something for the house, I’ll pick it up on my lunch break – or he’ll grab it on his flex day. We don’t keep track of the little things. It also means I don’t feel bad if I put a $10 bottle of kombucha in the shopping cart, he doesn’t mind picking up our bar tab when we’re out with his co-workers, and I can feel good treating him to a dinner out with my friends.

Being able to contribute equally makes me feel empowered. In 2006, I had to borrow bus fare from my then-boyfriend because I didn’t have enough in cash or credit to pay for it on my own. That was nearly 10 years ago, and seeing how far I’ve come makes me feel really good. I like that I don’t need someone to support me financially, and I like knowing that I’m financially equal to the person I want to be with.

That being said, I know that what works for us might not work for another couple – and it might not work for us forever. But for now, I’m happy with how things have been working out so far. :)

How do you split shared expenses with your significant other?

From home ownership to renting

I mentioned in a previous post that my housing situation has changed dramatically. In the summer I hinted at the idea of selling my house and moving into Vancouver to be closer to work, my friends, and where I spend most of my life. So back in August, I put my townhouse on the market just to see what would happen. There was a lot of interest, and finally I accepted an offer earlier this month. :)

That means I’m moving! But I’m not just moving into an apartment… I’m going to live out my small space living fantasy by renting out a laneway house in Vancouver. For those that are not from the Vancouver area and might be unfamiliar with laneway houses, these homes are typically built on a pre-existing lot (usually someone’s backyard). They are usually detached from the main house and open onto the back lane. My laneway house is a two-storey, two-bedroom house that measures about 685 sq.ft. It’s extremely cute, and I can’t begin to tell you how excited I am to live just a 10 min. drive to work, and within a few blocks of my favourite neighbourhood in Vancouver.

I had a short introduction into small space living in 2012, when I lived in a 215 sq.ft. apartment with a boyfriend for a year in Germany I don’t think I would want to live in a space that small long-term with another person (at least not that specific space – it did not function very well and there was no storage), but it definitely showed me that I can do with a lot less than what I have and still be completely happy. So now that there’s 685 sq.ft. for two people, it seems really doable.

With my new job, I will also be getting a modest bump in salary, which will increase my monthly saving amount. But I want to get right to the fun stuff – and that’s creating a new budget for a new living situation. :)

This is what my initial thoughts are for my new budget:

January 2016 Proposed Budget

A few things to note:

  • This is not a fair representation of home ownership vs. renting as I’m also going from living alone to living with somebody else. Creating this mock budget for the first time really made me realize how much more I was spending over the last 5 years living solo. Back in the summer, I did create another mock budget to see how much I’d save if I went from owning to renting as a single person ($400/month). So while this isn’t a truly fair representation, it doesn’t result in a *massive* difference in my budget living with someone vs. living solo.
  • My townhouse had rental restrictions. A lot of people suggested that I rent out my townhouse and move into the city. However, my building did not allow for rentals, so this just wasn’t an option for me.
  • Monthly rent on this house is $1,650. For a two bedroom in an extremely desirable area in Vancouver, this is quite reasonable, but definitely not the cheapest option out there.
  • We will be splitting the cost of utilities and internet. Electricity will go up a bit as we are heating a whole house, but that increase is offset by the fact that it’s now a shared expense. Renter’s insurance has been quoted at $30 per month.
  • I anticipate my monthly grocery budget will go down a little bit as I’ll have more time to prepare more meals from scratch.
  • Car insurance is not accurate – it will likely cost a bit more now that I live in Vancouver.
  • The cost of gas is cut in half now that my daily commute to work is 10 minutes instead of 45-60 minutes. :)

Related: Single? It’s costing you more than you think.)

As you can see, I *think* I’ll be able to slash over $700 from my budget each month without changing my lifestyle through variable expenses. Unless I’ve made some glaring error. This is a significant amount, and I am really excited about it. If you add to that my modest pay raise, and if I am vigilant in saving my savings, I could potentially put away an additional $1,000+ each month.

A fun evening making French macarons

I’ve been obsessed with macarons for a couple of years now, but have never attempted to make them. Everyone always told me how hard and finnicky they were to create, so I just left it at that and continued to buy them regularly. But when I saw a TeamBuy coupon for a 2-hour macaron making class for $45, I jumped on it.

We booked a few weeks ahead of time, and ended up going to a class last night at Professor and the Pigeon – a cute little bakery and coffee shop located in Kitsilano. The class started at 6:30, and we had about 15 or 16 people in the class. BF was the only guy there, which wasn’t surprising.

There was a wide range of skill level in attendance. One woman said she’s tried to make macaron at least a dozen times before, and there were people like us who have never attempted it at all. I bake a few times a year – banana breads, pies, cookies, etc. But am by no means an expert.

The first thing we did was watch a demonstration on how to make the macaron shells. Then, she divided us into 3 teams, and we started making our own shells. The group I was in was making Earl Grey macarons. Yum!

We started out by measuring the ingredients, and we were both pretty surprised at how simple the recipe is: just egg whites, white sugar, icing sugar, and almond flour. :) We blended the egg whites and white sugar together until the batter formed stiff peaks, and then we were ready for the next step.

We then poured the icing sugar and almond flour on top of the egg white mixture, and started mixing together. It was really important not to overmix, but I was surprised at how runny the batter was (similar to the consinstency of melted chocolate). After we got it just right, we filled a piping bag and went to town. Ours came out a little bit uneven, but pretty good for a first try. :) Then you let them sit on the tray for at least 30 minutes, until they dry out a little so that you can touch them (kind of like a blister).

They don’t spend long in the oven, and it makes a big difference temperature-wise whether you are using a convection oven or a regular oven. Once removed from the oven, they have to cool completely before you can move onto filling them with deliciousness.

While they cooled, we started to make our Earl Grey buttercream filling. It’s a little disgusting knowing how much butter and sugar actually goes into the filling, so I’ll just skip over that part. :) We used ground up tea, mixed it with hot cream, and then added it to butter, sugar, and vanilla extract.

Now the fun part – assembling the macarons! :) I was a little bit stingy in the amount of buttercream I put into my macarons. Thought I could somehow make them healthier… but, don’t skimp out. They were much better when you put more buttercream than what you think is a healthy amount, haha!

Making macarons was a really fun experience, and made an awesome date night. We were concerned before going to the class that we wouldn’t be able to make them at home. But it turns out, they’re quite simple to make. You just need to know how to get the right consistency with the batter, and get the timing perfectly. I’m glad we took the class because it gave us hands-on experience before we attempt to make them ourselves. :)

Here is the finished product. So pretty!

photo 1

NOTE: This wasn’t a paid review or anything (although I did use a referral link to the coupon site), I just love macarons and was really excited to share this experience. The price for the class is normally $99, but you can buy it through TeamBuy (referral) for $45.

Have you ever tried to make macarons before?

Page 2 of 44«12345»102030...Last »

Buy the Book!

A beginner's guide for Canadians looking to get their financial life in order. Get great info on budgeting and saving, RRSP's and pensions, investing types, insurance, and where to go for additional resources.

Recent Tweets

Instagram

  • We decided to check out pivanewwest this evening  thehellip
  • What an amazing weekend at the Canadian Personal Finance Conference!hellip
  • Loving this gorgeous Christmas tree at the vanartgallery!
  • Fanciest avocado toast Ive ever had! Nice catchup lunch todayhellip
  • Games and pizza just might be the perfect way tohellip
  • We took Zoey to pawspetcentre this morning to get ahellip
  • Yep 2017 was a pretty good year! 1 Hiked thehellip
  • Current mood

© 2017. Give Me Back My Five Bucks. All rights reserved. Powered by WordPress & Designed by Mike Smith