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This couple split their bills equitably as a percentage rather than 50/50 and it makes sense

This couple split their bills equitably as a percentage rather than 50/50 and it makes sense

MImi explained that their equitable method isn't limited to just shared expenses but also housework.

As a couple, it's really important to sort out your financial planning early on in your relationship, especially if you're living together. Having a fair arrangement in place early on can avoid confusion and ensure that one person doesn't end up paying far more than the other, which can lead to resentment. When deciding what constitutes as fair, we usually think in absolute terms—splitting shared costs 50/50. But is that really fair? TikTok user Mimi, who goes by @findingmimivlogs on the platform, and her partner are a millennial couple from Toronto. They explained why they split their shared bills in an equitable fashion, and they have a point. Mimi is a clinical research assistant and a personal assistant. The video has gone viral and viewed more than 772,000 times and liked by 65,000 people.

TikTok
TikTok

 

"My partner and I don't split our bills 50/50. Why? Because we practice equity," said Mimi, before explaining what an equitable distribution meant. "Equity recognizes that each person has different circumstances and resources and as such allocates opportunities and resources need to reach this equal outcome. So, how do we practice this equity without bills? Well, we recognize that we have an income difference because of this the same percentage of our individual income goes towards our shared bills."

TikTok
TikTok

 

TikTok
TikTok

 

Mimi then explained what it would mean with regards to their income and contribution to shared bills. "Hypothetically, say 20% of my income goes towards our shared bills. That means 20% of my partner's income goes towards shared bills as well," said Mimi. So the absolute contribution will differ based on the income they make but their share of contribution will be fair. Mimi believes having an equitable contribution also accounts for unexpected changes with regards to changes in income. "With equity in mind, we also recognize that circumstances change. My partner's income has not changed in the past two months, whereas mine has. My income has significantly increased which means that the amount I contribute to bills is higher now. In other words, 20% of my previous income was lower than 20% of my income now. Does that mean I make my partner pay more? No, because 20% of his income is still the same. Things will change as we progress in life because we practice equity," added Mimi.

TikTok
TikTok

 

TikTok
TikTok

 

Mimi said communication was the key to maintaining the balance. "We have multiple shared accounts b/c we have side hustles together and savings, but we just communicate how much % we contribute," she said. Mimi credited her partner with coming up with the idea and said it wasn't just limited to finances but also housework. "My partner came up with this method! We also split division of housework/cooking according to equity!" said Mimi. "This method was best for us because it recognized our income difference and personal financial situation, while simultaneously allowing us to stay financially independent and contribute to our shared expenses," Mimi told BuzzFeed. "My partner was not willing to live a lifestyle that would allow me to contribute 50% [of my income] toward our shared bills and expenses because that would've involved living in a smaller place and other sacrifices, which he was not willing to do... Therefore, I introduced the idea of splitting our bills equitably."

TikTok
TikTok

 


Many lauded Mimi and her partner for coming up with the arrangement. "This way makes sense. What can also make sense (if you wanna live the same lifestyle) is to pay so both have equal amounts left after bills to save etc," suggested one user. One person argued that this system worked only if their income were in a similar range. "I personally think this only works if you and your partner’s income is not too far of a range. But good for you if this is working great!" they added. Another commented, "I love this, this way you can contribute fairly based on income and have less financial burden on who's gonna pay."

TikTok
TikTok

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