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ledwards 5/1/2007 3:31 pm	Husband's Financial Habits Need Improvement :hug:As a wife, it my job to encourage my husband to do his best in everything he does. What can I say to him to help him understand that his financial habits affect our present and future? When we first got married I didn't think it was a big deal, because I felt that as long as I saved and budgeted we were alright. But, since half our savings was used when we relocated across the country a year ago and our combined salaries are lower than one of our salaries prior to our move, things are getting tight. We're living paycheck to paycheck and can't even afford to put money aside for savings. We want to buy a house now. This is where I realized that I need to push him to improve his credit. It's not the credit score alone that I'm concerned about, it's the things that have made the score low. Things like not paying bills- at all! Ignoring the Dept of Education when they call. He bought a time share (against my approval) while he wasn't working and now he's way behind in payments, but won't call them to work something out. I get all those messages, not him. He'd rather pretend they're not calling. I write his messages and place them in a place he can see them, but I can't make his choices for him. I don't want to nag, even though I feel the urge to. I don't want to beat him over the head, even though I feel the urge to. I have told him that he should at least call these agencies and see if something can be worked out and that he needs to stop relying soley on my good credit score when we concsider making major financial purchases when he can work on pullin his up. What can I do or say to a stubborn husband who was raised in a poor family and led to believe that because you worked hard to earn your money you it's okay to spend it frivolously. And that it's okay to borrow money from someone, sign a contract saying you'll pay them back, then take the money and run. Help!
Armin Brott 5/5/2007 3:16 pm	Re: Husband's Financial Habits Need Improvement This is a situation that requires immediate attention--one of the biggest reasons couples break up is money issues. Given how easy it is to trash a credit rating and how hard it is to rebuild (it takes years), you've got to take a hard line on this situation. If your husband's credit score goes through the floor, your good score won't be enough to make the difference, especially when you're talking about a new home. The first thing you need to do is make it dfficult for your husband to keep making major purchases. Call your credit card companies and ask them to put limits on his cards or to cancel them all together. That may put some hardship on you too, but having to make all your purchases in cash makes spending a lot of money a little harder. Next, if you have debts that have outstripped your ability to pay, talk to the creditors and ask them to help work with you on restructuring the debts. If you file for bankruptcy they could end up with nothing, so they have some incentive to work with you. You may .... Read More
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