#PersonalFinance #Budgeting #DebtFreeJourney #FinancialIndependence #MoneyManagement
Have you ever had a partner who just couldn’t stop spending money, no matter how hard you tried to rein them in? Well, that’s the situation I found myself in with my husband. He was constantly overspending, racking up debt left and right, and putting our financial future in jeopardy.
##The Breaking Point
After years of watching him recklessly spend, I finally had enough. I discovered that he had taken out another credit card and was using it to make expensive purchases without consulting me. I knew I had to take drastic measures to get our finances back on track before it was too late.
I decided to take matters into my own hands and use his $10,000 bonus to eliminate his debt once and for all. Here’s how it all went down:
###Step 1: Taking Control of the Situation
I knew that in order to make a real impact on our financial situation, I needed to take control of our finances. So, I transferred all of his existing debt into my name, taking advantage of a 0% interest offer. This would allow us to pay off the debt without accruing additional interest.
###Step 2: Using the Bonus Wisely
When my husband received his $10,000 bonus, he was ecstatic. Little did he know that I had a different plan for that money. Instead of letting him spend it frivolously, I used it to pay off the debt that had been hanging over our heads for years.
###Step 3: Setting Financial Goals
With the debt finally paid off, I sat down with my husband to set some financial goals for the future. We agreed on a budget of $500 a month for the next 18 months to start building up our savings and emergency fund. It was important for us to prioritize our financial security and learn to live within our means.
##The Aftermath
After seeing the impact of my actions, my husband was forced to confront his spending habits. He realized the consequences of his actions and the toll it had taken on our relationship and our financial stability. We both learned valuable lessons about the importance of communication, budgeting, and saving for the future.
###Lessons Learned
– Communication is key in any relationship, especially when it comes to finances.
– Setting clear financial goals can help you stay on track and avoid unnecessary debt.
– It’s never too late to take control of your financial situation and make positive changes for the future.
In the end, I made the tough decision to take control of our finances and eliminate my husband’s debt. It wasn’t easy, but it was necessary to secure our financial future and ensure that we could live debt-free moving forward. And who knows, maybe this experience will be the wake-up call my husband needed to start making smarter financial decisions.
If you find yourself in a similar situation, remember that it’s never too late to take control of your finances and start building a more secure future for yourself and your loved ones. Don’t be afraid to make tough decisions and put your financial well-being first. Here’s to a brighter, debt-free future for us all! 💸🌟
For more tips on personal finance, budgeting, and debt management, visit our website today! 📈💰 #FinancialFreedom #MoneySavingTips #DebtManagement101 #SmartMoneyMoves
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Good! Cut off his credit card too- he can have a debit card only. Act like a child get treated like one
You might as well cut to the chase and leave now–he’s not going to learn.
Separate your finances!
I hope you’re leaving him because he’s also cheating.
Get his name off the credit cards. Cancel them if necessary and get ones only in your name. How does someone even spend that much?
Lay down the boundaries of what you expect, what he’s doing, and what the consequences are if his behaviour doesn’t change.
Then anything that happens is on him.
In the mean time, build your own separate nest egg, and don’t make any joint accounts/credit cards/loans etc. You’re on the right track sorting that shit out so far.
Whatever you do, close any credit card accounts with both of your names on it! And do not put any loans in both of your names. If you own a home together any equity that’s yours is safe so long as your name is on the deed and you do not get a home equity line of credit, whatever you do NEVER allow that.
He won‘t learn unless he gets help, he has some kind of addiction, it might be to gambling or just to spending. Get your ducks in a row and be ready to leave if he doesn’t get help.
What was he spending it on? It doesn’t make much difference, but curious to see what he is ruining his life over.
!update me 3 years
Have you brought up addiction therapy and rehab, by explaining that if he doesn’t you’re going to take drastic measures?
Lock down both of your SS#s!
I hope he learns his lesson!!
Because if he doesn’t, he will lose someone as amazing and patient as you and he’s going to do nothing but hurt himself and break his own heart.
I wish you both the very best, but in my opinion you have gone above and beyond and I am impressed with your desire to help him.
Be well my friend.
Glad you have taken proactive steps OP to get all his debt in your name paid off.
From your comments you no longer have joint credit cards. Do you have all of your bank accounts also separated?
It would be a good idea for you to consider freezing your credit with each of the three credit bureaus. If you do so be sure to keep the information somewhere secure so your husband can’t use it to unfreeze.
And you’ve caught him cheating?
What does he spend the money on?
You already know he can’t stop spending. Imagine yourself staying with him until it’s time to retire,,,, and you have no money.
Time to cut your losses with this lemon. You deserve a partner
Don’t wait. As soon as those ducks are in a row. Walk out and have him served
Could you update with his reaction?
I would kill to get the reveal video on this one.
Run Nugget Run – said in my best Forrest Gump Jenny voice!!
Take his cards.pick his credit. Give him an allowance
So, what is he spending this money on? That is a significant amount of money to rack up again and again. Do you have access to the transaction records? I would be going line by line and investigating this because it is absolutely life ruining amount of debt. Husband needs to be held accountable and as much as paying off your debt is nice, this is not resolving the main issue. From the sound of it, once he finds out, your marriage may just be over or at the very least, in serious jeopardy. He sounds like he is one foot out the door already with the emotional cheating I read in your other comments.
This requires a long conversation, investigation into the transactions, some accountability for his actions and an action plan for recovery which includes therapy, both couples and individual addiction counselling. Best of luck to you, if you don’t want to leave this man, you both need to create a plan and stick to it. If he is unwilling to or does not stick to the plan, then you at least know what kind of man he is.
Girl you gotta get out, this is the 3rd time he’s done this???? And you’re still not done?? Good lord
Also id probably have a safety plan just in case he gets aggressive, know where you can go, who you can call.
Sometimes when people are confronted with the consequences of their behavior they can escalate.
Be safe..
If you live in a community property state and divorce him, you could very well owe him $5,000. Don’t start celebrating yet
OP, you are making these additional comments about how you don’t have any illusions about your husband becoming financially responsible, and you are taking practical steps that will let you leave with your finances intact. It would benefit others in your situation if you added these to your main comment.
Good on you for protecting yourself.
>This happens again I’m leaving, debt free.
Why wait around for the inevitable?
It looks like you keep asking the same questions about him cheating a d spending all the money. Have some self worth. Shit or get off the pot lady.
Consult a lawyer and consider getting a separation agreement right now. Depending on where you live, you may have to divide assets and liabilities 50/50 in the divorce, regardless of whose name is on them. It happened to me, and my situation was similar to yours.
Math doesn’t math.