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Just found out the wife ran up some serious credit card debt

Discussion in 'General' started by USracer900, Nov 6, 2022.

  1. Yzasserina

    Yzasserina sound it out

    Yep, don’t kick that can down the road.
  2. Mongo

    Mongo Administrator

    I think there is enough pain in having to do all this to make the lesson work. Either way as the OP has repeatedly said he will be taking a more active role in their bills and getting them paid. The wife will either learn through that or she won't, no need to piss away money on interest to try and teach her anything.
    MELK-MAN likes this.
  3. Mongo

    Mongo Administrator

    Still not remotely understanding this thought process - the debt is already there. It's not going anywhere. Debt with less interest is overall less debt when paid off, how is this in any way a bad thing?
    evomach, MELK-MAN and mpusch like this.
  4. R Acree

    R Acree Banned

    We keep joint accounts for bills and such funded by both based on income. I make twice as much so she contributes 33%, I do 67. When the ratio changes, so do the percentage contributions. It has worked for 33 years
    Riot, SundaySocial and lopitt85 like this.
  5. rd400racer

    rd400racer Well-Known Member

    My wife and I got a joint checking account one week after we moved in together in October of 1981. Never understood married couples that have individual accounts. I've always felt if you can't trust each other with money, then you sure as hell can't trust them with anything else.
    tl1098, SuddenBraking and Banditracer like this.
  6. R Acree

    R Acree Banned

    For us it wasn't a trust issue.
    Riot likes this.
  7. lopitt85

    lopitt85 Well-Known Member

    Wife and I have a joint account for family expenses, and individual accounts for discretionary spending. We each send a set amount to the discretionary account each month and it's ours to do as we wish. Hers is hair, nails, Amazon shopping. Mine is tools, parts, etc. If we want to buy something that is more than what's in the discretionary account you either save up multiple months of discretionary funds, or you talk to the other half to make a decision.
    Riot, sheepofblue and Phl218 like this.
  8. redtailracing

    redtailracing gone tuna fishin'

    We've talked about doing that multiple times. But through our careers, I've consistently made about 10% more than her but also been the one to pay for most of our fun stuff and we've both agreed that with that consideration, 50/50 is sufficient and keeps it easy.
  9. rd400racer

    rd400racer Well-Known Member

    I'm not ashamed to admit that I spend too much. It's like a drug with me, and I need a system of checks and balances. Could be why I married a fiscally responsible woman. Oh I'm much better now, but when I was younger I liked toys a lot, every kind. Thankfully she shot down most of the stupid shit I wanted. Now that I'm in my 60's, I've become kind of a cheap bastard too:D Then again, after long enough you realize that you don't need 75% of the stuff that you think you do.
  10. redtailracing

    redtailracing gone tuna fishin'

    Not a trust issue. Just easier to manage. When I want to buy a new toy, I just do it. If everything was shared, it would require a conversation - "How much is in the account? What else were you wanting to buy this month? Is there enough left for me to still get this toy I want? And if there is, is it enough that I still want the toy or is it going to prevent me from buying something else I want more later?" And of course all those things are subject to change because you're both constantly pulling from the same pot. Current state, I know what is in my accounts at all times because I'm the only one touching it, which means I know at all times what my available resources are. So for example, I stopped by one of my favorite stores earlier this year, saw a Benelli M4 for a great price (been wanting one for awhile), and I bought it on the spot with no hesitation or discussion. I knew I could afford it and didn't have to worry about spending "her money." Makes those kinds of decisions really easy.

    Not that I think there's anything wrong with shared accounts. But this is why splitting it works for us.
    Riot and MELK-MAN like this.
  11. HPPT

    HPPT !!!

    It takes a very secure man to publicly say that there are into ass play. Bravo to you, my friend.
  12. R Acree

    R Acree Banned

    As long as you both agree, that's what counts.
  13. R Acree

    R Acree Banned

    What's need go to do, got to do with it?
    What's need but a dream destroying notion.
  14. renegade17

    renegade17 Well-Known Member

  15. TurboBlew

    TurboBlew Registers Abusers

    some folks have good money discipline & some dont. Comingling is an express route to divorce.
  16. rd400racer

    rd400racer Well-Known Member

    You went there, not me:D
  17. Boman Forklift

    Boman Forklift Well-Known Member

    Ive not done any surveys, but my parents account’s are joint and mine are and we’ve both been married a long time. At this point if it doesn’t work out, I would imagine it isn’t because of joint bank accounts?
  18. USracer900

    USracer900 Well-Known Member

    Well, we've paid off $5K so far. Been selling stuff left and right, so much that I'm getting to know the guy at the post office personally. Hasn't been without it's challenges though, one major fight already. It's gonna be far from easy I have to say.
    cBJr, Gino230, thrak410 and 12 others like this.
  19. sheepofblue

    sheepofblue Well-Known Member

    One way is to move it to the house loan and extend payoff. Allows the bad habit to increase again or just kicks the can down the road as stated. Best solution is pay it off.
  20. Boman Forklift

    Boman Forklift Well-Known Member

    That's great news!!

    Bad habits can always continue, but I read it as he was going to put it on a Heloc, which doesn't necessarily extend it out 15-30 years like your comment implies. Then pay it off quickly, which does match your best solution, and does so, by wasting less money on interest.

    However, at this point, I believe we are all:dead:

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