What formula can i use in excel to calculate expenses based on the income of 2 people?

Question

If i make $3000 a month and my roommate $2000 i need to know how to calculate expenses based on both of our incomes without doing the 50/50 deal. I'd like to use excel. Does anyone have a template or at least the formula?

Answer 1

Sure... if you would like to make it proportional to your incomes, just take 3000 / 5000 * each expense for your portion (5000 is the sum of your incomes monthly), and 2000 / 5000 * each expense for your roommate. Or, more simply, 60% for you and 40% for your roommate. In Excel you can use, if an expense were in cell A1:

=3000/5000*A1

To get your portion, or

=2000/5000*A1

for your roommate's.

Does that help?

Keith