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Update on paying off DH's debts

Posted by Anonymous   + Show Post

Don't worry, I don't care if I get any responses. I just enjoy sharing our progress at this point. This month had less momentum than I'd have wanted. But things are still working out, and I'm excited about how far we've gotten. I understand others don't share in my excitement, and I apologize for those who feel offended by it.


 Date   Checking   Savings   Loan 1   Loan 2   Loan 3  Car Loan   Credit Cards   Loan 4
 Sep 1   1812.14  15000  0  0  0  0  0  -16626.24 
 Aug 1   3137.59  15000  0  0  0  -884.2  0  -16822.68 
 Jul 1   345.69  15000  0  -361.2  -818.74  -1334.2  0  -17036.62 
 Jun 1   4684.55  0  -83.11  -399.42   -877.47  -1786.03  -658.79  -17430.93 
 May 1   4728.57  0  -154.77   -436.87   -934.68  -2237.88   -1926.52  -17603.57 
 Apr 1   8405.47  0  -225.78   -473.73   -990.77  -2689.71  -6872.59  -17603.57 
 Mar 1   4879.73  0  -301.45   -511.92   -1049.74  -3141.57  -5154.24  -17810.65 
 Feb 1   4084.51  0  -376.93   -553.87   -1106.41  -3593.39  -5413.43  -18188.63 
 Jan 1   4332.03  0  -410.18   -590.07   -1161.66   -4043.39  -4332.03  -18188.62 
Posted by Anonymous on Sep. 1, 2017 at 1:11 PM
Replies (21-26):
Anonymous
by Anonymous 1 - Original Poster on Sep. 14, 2017 at 2:18 AM
We both already have IRAs. I can talk to him about savings, but I can't press too hard or it won't work.

Quoting Anonymous 8: Bummer about his company not matching. So youll set up IRA for that.
In 3-6 months you really need to start working on that savings number. Pay down more of debt, like youvwant, but you need that savings growing asap.
It also siunds like your DH is a spender. Youre gonna need to watch that. Lol.

Quoting Anonymous 1: Yes, we both have 401ks and IRAs. He's decided to not contribute to his 401k, though, because this job doesn't match his contributions like the last. We're both in our 30s now. The house is in his name. He bought it before we married.

Quoting Anonymous 8: Do you have retirement savings thru work?
How old are you guys?
Own your own home?

Quoting Anonymous 1: For right now, we're only focusing on having 3 to 6 months of expenses in savings until his debts are paid off.

Quoting Anonymous 8: No contributions to savings?
Arent you supposed to pay yourself first?
Egardless of your debt you need a monthly depost to savings as well.
Anonymous
by Anonymous 1 - Original Poster on Sep. 14, 2017 at 2:21 AM
Yeah, pretty much. Though he'd probably say he wanted to reward himself for spending so little and going without for so many months.

Quoting Anonymous 10: He wanted to reward himself for doing the adult thing and pay his damn bills? SERIOUSLY?

Quoting Anonymous 1:

We make a budget together every month. He's not great about following them, though. And this past month in particular he wanted to spend extra money to kind of reward himself for being so good.

Quoting Anonymous 4:

You should make a budget. Then your months won't have less momentum than you'd want.

Anonymous
by Anonymous 11 on Sep. 14, 2017 at 2:32 AM
All the money that was going to any Loans you paid off should now be going into your savings account doesn't have to be as much but at least half of each loan should be hitting savings you would be surprised at how fast it could grow.


Adding to your savings every month should be a bill just like all the others you can set it up with your bank where as soon as checks go I'm so much goes out if you don't see it each month from the start.you won't spend it and won't forget to add it.


You re doing good but seriously one or more loan payments now need to go to savings your dh needs a spending limit put on his card either for each day or week it will basically decline everything just like a credit card.
Anonymous
by Anonymous 11 on Sep. 14, 2017 at 2:35 AM
Then every time he spends tell him he has to put that same amount in savings so if he spends 100 he needs to put 100 in savings doing that will make him realize how much he's spending or treat him like a child and make him truly earn his money doing chores or working overtime or not spending so much every month.

Quoting Anonymous 1: Yeah, pretty much. Though he'd probably say he wanted to reward himself for spending so little and going without for so many months.

Quoting Anonymous 10: He wanted to reward himself for doing the adult thing and pay his damn bills? SERIOUSLY?

Quoting Anonymous 1:

We make a budget together every month. He's not great about following them, though. And this past month in particular he wanted to spend extra money to kind of reward himself for being so good.

Quoting Anonymous 4:

You should make a budget. Then your months won't have less momentum than you'd want.

Anonymous
by Anonymous 1 - Original Poster on Sep. 14, 2017 at 2:39 AM
1 mom liked this
$1100 was going to debt before. I thought $1100 a month should keep going to his debts until they're paid off, but he disagrees. It's down to $550 a month, so he's decided to spend an additional $550 a month instead of putting it towards his debts. He's not prepared to put any more money towards savings right now. I am investing money into my 401k.

I think one of the cards has a spending limit of $10,000 or something like that. He will not agree to any adjustments.

Quoting Anonymous 11: All the money that was going to any Loans you paid off should now be going into your savings account doesn't have to be as much but at least half of each loan should be hitting savings you would be surprised at how fast it could grow.





Adding to your savings every month should be a bill just like all the others you can set it up with your bank where as soon as checks go I'm so much goes out if you don't see it each month from the start.you won't spend it and won't forget to add it.





You re doing good but seriously one or more loan payments now need to go to savings your dh needs a spending limit put on his card either for each day or week it will basically decline everything just like a credit card.
Anonymous
by Anonymous 1 - Original Poster on Sep. 14, 2017 at 12:30 PM
He wouldn't agree to that.

Quoting Anonymous 11: Then every time he spends tell him he has to put that same amount in savings so if he spends 100 he needs to put 100 in savings doing that will make him realize how much he's spending or treat him like a child and make him truly earn his money doing chores or working overtime or not spending so much every month.

Quoting Anonymous 1: Yeah, pretty much. Though he'd probably say he wanted to reward himself for spending so little and going without for so many months.

Quoting Anonymous 10: He wanted to reward himself for doing the adult thing and pay his damn bills? SERIOUSLY?

Quoting Anonymous 1:

We make a budget together every month. He's not great about following them, though. And this past month in particular he wanted to spend extra money to kind of reward himself for being so good.

Quoting Anonymous 4:

You should make a budget. Then your months won't have less momentum than you'd want.

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