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How to work out the ratio ... ?
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... Im trying to work out a ratio so that my new partner and I can pay bills in ratio to our wages. I am really struggling ...
Basically we have 2 wages; one of £1964 and £1531 - the total bills are £2000 we are trying to work out how much each of us should put into the 'kitty' to pay the bills as there is quite a difference between wages .. if anyone can help, I would be grateful !
thanks
Basically we have 2 wages; one of £1964 and £1531 - the total bills are £2000 we are trying to work out how much each of us should put into the 'kitty' to pay the bills as there is quite a difference between wages .. if anyone can help, I would be grateful !
thanks
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You can get very near the right answer in your head, by making the numbers a bit simpler, and this might help.
You are paid about £2000 and £1500 respectively, a total of about £3500. So the ratios are 2000/3500 and 1500/3500 or more simply 4/7 and 3/7 (as 500 goes into 1500 three times, 2000 four times and 3500 seven times). So the person on £1964 should pay about four sevenths of the bills, and the person on £1531 about three sevenths. This works out slightly in favour of the person on the lower salary.
You can get very near the right answer in your head, by making the numbers a bit simpler, and this might help.
You are paid about £2000 and £1500 respectively, a total of about £3500. So the ratios are 2000/3500 and 1500/3500 or more simply 4/7 and 3/7 (as 500 goes into 1500 three times, 2000 four times and 3500 seven times). So the person on £1964 should pay about four sevenths of the bills, and the person on £1531 about three sevenths. This works out slightly in favour of the person on the lower salary.
I think, quite simply, BS, because it is unfair. It seems they want to contribute to the bills in proportion to their earnings (and hence have spending money in proportion to their earnings).
Perhaps the best way to demonstrate the deficiency of your method is to imagine one of them got a huge rise. If the higher earner suddenly had an increase from £1964 to £10000 (and the bills remained the same) they would have an income of £11,531, bills of £2,000, so would share £9,531 (so get £4,765 – more than £3k more than earned!).
Perhaps the best way to demonstrate the deficiency of your method is to imagine one of them got a huge rise. If the higher earner suddenly had an increase from £1964 to £10000 (and the bills remained the same) they would have an income of £11,531, bills of £2,000, so would share £9,531 (so get £4,765 – more than £3k more than earned!).
Yes, that's quite right, BS, and it's what a number of couples do. But it seems that katekoala wants the two members of the partnership to retain an element of independence by paying the bills in accordance with their earnings.
One other way to look at it would be to suggest, perhaps, that the bills should be split 50:50 (after all, most organisations rendering bills do not do so on the basis of earnings). But if that's what kate wants, that's what she must have !!!
One other way to look at it would be to suggest, perhaps, that the bills should be split 50:50 (after all, most organisations rendering bills do not do so on the basis of earnings). But if that's what kate wants, that's what she must have !!!