Caporegime
- Joined
- 21 Jun 2006
- Posts
- 38,372
If his Mrs is pregnant then he needs to man up and get a second job.
Plus she is already the higher earner earner here. Asking her to get a second job would be a slap in the face.
I know that the wedding costs will likely have been her fault but you should have reigned that in. Stuck to a budget. So both of you are responsible for them.
The other thing you could do is apply for zero interest credit cards for spending or balance transfers. Then spend what you normlly do in the month on essentials on them. Balance transfers all current credit cards to them.
Then pay the minimum amount on them and focus on clearing the highest interest debts first.
You need to make sure that you don't just accumulate more debt by taking more credit.
I hope you also realise buying on finance and buying most expensive option available isn't wise if money is tight. I did the same on a washing machine but it's interest free and has a 10 year warranty. However I should have just spent half of what I did. Lesson learnt and it's less than £100 a month so manageable. I also don't need to worry about buying another for at least a decade so it's not a big deal as spread over 10 years the cost is far less than broadband, mobiles, etc.
Learn from previous mistakes and don't make them again. Take advice from others before making any purchase over £300.
It's the overdraft and high interest debts you need to focus on clearing by saving money.
I'm guessing you spent a substantial amount of money on your wedding, how do you plan on helping your kids with theirs if you are spending every penny you make? How do you plan on helping with their uni fee's? You need to curb spending and save around 10% a month.
You say this is due to buying a home earlier than expected but it's really not. It's because of overspending and buying on credit. You shouldn't have spent a single penny that you haven't earned on a wedding or a honeymoon.
Plus she is already the higher earner earner here. Asking her to get a second job would be a slap in the face.
I know that the wedding costs will likely have been her fault but you should have reigned that in. Stuck to a budget. So both of you are responsible for them.
The other thing you could do is apply for zero interest credit cards for spending or balance transfers. Then spend what you normlly do in the month on essentials on them. Balance transfers all current credit cards to them.
Then pay the minimum amount on them and focus on clearing the highest interest debts first.
You need to make sure that you don't just accumulate more debt by taking more credit.
I hope you also realise buying on finance and buying most expensive option available isn't wise if money is tight. I did the same on a washing machine but it's interest free and has a 10 year warranty. However I should have just spent half of what I did. Lesson learnt and it's less than £100 a month so manageable. I also don't need to worry about buying another for at least a decade so it's not a big deal as spread over 10 years the cost is far less than broadband, mobiles, etc.
Learn from previous mistakes and don't make them again. Take advice from others before making any purchase over £300.
It's the overdraft and high interest debts you need to focus on clearing by saving money.
I'm guessing you spent a substantial amount of money on your wedding, how do you plan on helping your kids with theirs if you are spending every penny you make? How do you plan on helping with their uni fee's? You need to curb spending and save around 10% a month.
You say this is due to buying a home earlier than expected but it's really not. It's because of overspending and buying on credit. You shouldn't have spent a single penny that you haven't earned on a wedding or a honeymoon.