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Featured Wise or Foolish financial move?

Discussion in 'General Baptist Discussions' started by evangelist6589, May 17, 2015.

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  1. evangelist6589

    evangelist6589 Well-Known Member
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    The cards I do use I pay off in a month but this card I have not. Perhaps I should close it to prevent further charges.
     
    #81 evangelist6589, May 19, 2015
  2. evangelist6589

    evangelist6589 Well-Known Member
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    She is not paying the home costs as I am paying half.

    I looked for a PT job but was unable to find one locally. Perhaps I could get some more OT. The new job (transferred) allows OT once a month so this will help.

    Oh don't I wish I had no rent or utilities and then I would wipe out the debt.

    So what do I do? I am meeting with a job coach today to work on finding a better paying job.
     
    #82 evangelist6589, May 19, 2015
    Last edited by a moderator: May 19, 2015
  3. InTheLight

    InTheLight Well-Known Member
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    Ironically, closing credit cards can lower your credit score, so I wouldn't do that. Give the card to your wife and have her hide it. LOL.
     
    #83 InTheLight, May 19, 2015
  4. Rolfe

    Rolfe Well-Known Member
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    ...Unless she has the same problems.
     
    #84 Rolfe, May 19, 2015
  5. annsni

    annsni Well-Known Member
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    Opening and closing credit cards is giving you a HUGE strike on your credit score. Leave the cards open but put them in a container, add water and freeze them. Seriously. This way you still have the card but you will not charge with them again until you thaw them out (which shouldn't be done until you are done paying the debt). Do you not have enough self control to prevent further charges yourself?



    I see some real red flags in your marriage here.

    As for the job, do your job well, cut all expenses that you possibly can, stop spending money and start paying down your debt even if it's just adding a little bit onto what you think you can pay. Take a look at your credit card statement. You say that you pay the minimum payment but take a look at the chart that is somewhere on your bill that shows you how long it will take you to pay off your debt if you only pay the minimum payment. How scary is that?

    Honestly, rather than a job coach, I think it's time to meet with a debt counselor and maybe a therapist to figure out why you desire that which you cannot afford.
     
    #85 annsni, May 19, 2015
  6. JonC

    JonC Moderator
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    You realize she could say the same thing. "he is not paying the home cost as I am paying half.". I think that married couples should combine their finances. That said, I could understand her reluctance given your financial situation and the fact that you just paid over $1000 for a computer.. Why is your wife okay with the purchase?
     
    #86 JonC, May 19, 2015
  7. evangelist6589

    evangelist6589 Well-Known Member
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    She did not mind as long as I pay it back.
     
    #87 evangelist6589, May 19, 2015
  8. evangelist6589

    evangelist6589 Well-Known Member
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    Oh great at the eye doctor and its gonna cost me $300 out of pocket for new lenses. Not an emergency cost but just adds to the CC debt.
     
    #88 evangelist6589, May 19, 2015
  9. evangelist6589

    evangelist6589 Well-Known Member
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    One purchase does not quantify a life of spending beyond my means which I do not do. The majority of my debt is student loans, and for necessities such as medical debt and car costs.
     
    #89 evangelist6589, May 19, 2015
  10. JonC

    JonC Moderator
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    Good (that she's OK with it since it's done). Spending is often a bad spot for couples, and I'm glad you're on the same sheet of music.
     
    #90 JonC, May 19, 2015
  11. annsni

    annsni Well-Known Member
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    Where is your emergency fund? Did you not know since you were going to the eye doctor that you would have to more than likely buy new glasses? Is it just the lenses in your old frames? $300 is awfully high.
     
    #91 annsni, May 19, 2015
  12. evangelist6589

    evangelist6589 Well-Known Member
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    Just the lenses. I think I wanna keep my emergency fund for real emergencies such as if I lost a job or needed car repairs. My old glasses work just fine, however I need transitions and anti glare or whatever to help me drive at night which presently is a real problem.
     
    #92 evangelist6589, May 19, 2015
    Last edited by a moderator: May 19, 2015
  13. annsni

    annsni Well-Known Member
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    You just totally contradicted yourself here.
     
    #93 annsni, May 19, 2015
  14. annsni

    annsni Well-Known Member
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    Have the anti glare put onto your current glasses and transitions are horrible. Go with clip-on sunglasses for $20 at CVS.

    Yes, this constitutes an emergency since you are taking on yet another debt that you cannot afford and cannot pay back.
     
    #94 annsni, May 19, 2015
  15. evangelist6589

    evangelist6589 Well-Known Member
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    Most of my debt is not consumer debt. This laptop yes is consumer debt. But student loans, car repairs, dental bills and such is not consumer debt.

    I believe it was in the Crown financial book that spelled out the difference
     
    #95 evangelist6589, May 19, 2015
  16. evangelist6589

    evangelist6589 Well-Known Member
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    Hmm... I am gonna try and talk the price down. Thanks.
     
    #96 evangelist6589, May 19, 2015
  17. JonC

    JonC Moderator
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    As I get older I find it more difficult to drive at night. I just close my eyes and hope for the best.
     
    #97 JonC, May 19, 2015
  18. InTheLight

    InTheLight Well-Known Member
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    #98 InTheLight, May 19, 2015
    Last edited by a moderator: May 19, 2015
  19. evangelist6589

    evangelist6589 Well-Known Member
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    Transitions are free with my insurance. I was unable to drop the price. I have my own frames. I think I will use my emergency fund to pay this one.
     
    #99 evangelist6589, May 19, 2015
  20. Rippon

    Rippon Well-Known Member
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    Wha...!! What did you just say?
     
    #100 Rippon, May 19, 2015
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