Need advice:My mother (age 67) is on a fixed income and needs to consolidate her debt, any advice?
Answers: If she owns her own home look into a reverse mortgage. Go to a local bank and get as much info before signing or doing anything.
Since she is on a fixed income, call the local utility to see if they have any programs for to help reduce or pay a lower cost on the utility bill. Buy the energy saving bulbs that look like ice cream swirls.
If she has any any credit cards, cut them up.
If she is getting any tax refunds, use that money to pay off some of the bills.
If she is taking any drugs ask her doctor if there is a lower cost drug like the ones she is taking.
I know it's tough for most of us, but we must pay off the bills that we have and not create more headaches by buying things that we don't need. By paying off the bills that we owe, we will start knowing the real value we have as human beings.
She goes to a bank like everyone else, and gets a consolidation loan. If her credit won't support it, she'll need a cosigner.
And then she needs to make a budget that stays within her means, or she needs an outside income or help from her family.
A consolidation loan doesn't help.
If she's consistently short on her monthly budget, then she has to cut the budget further, or someone will have to give her the money.
Am I one taken positive aspect of? Personal Finance give somebody the third degree.?
I earn a decent income. My DBF make about as much as I do contained by his job. We both work for equal company and we live together. (We have for 2 years now).I hold far more bills than he does (2 car loans, a camper loan, registrations on a snowmobile trailer, snowmobile, the two vehicle, insurances, I have my own home within which I pay 3X more taxes a year on than he does on his, a credit card, a student loan, and a child next to a second on the way). I've paid for adjectives the expenses to get prepared for our baby girl on the method and I take thoroughness of the 9 year old from a previous relationship that I already enjoy. He pays me approx $70 bi weekly toward groceries. He does not pay when we run out to eat, I do. I discharge the remainder of the groceries. He does not pay for the gas or entertainment expenses. I also pay envelope some toward the OIL (this winter $300 worth). I also have lawyer fees that I pay. He have his own truck, a snowmobile, insurances, a small mortage, and pays a debt collector.
Answers: First thing is first. DO NOT SELL your home even so. Until there is a commitment written both of you have the right to disappear this situation and with nuptials it at least make it a situation where you both hold to think more more or less it first because of the expense and trauma of divorce.
Paying you bi-weekly towards groceries at $70.00 each time for his portion (only) is not ample money today for a single person to devour at home so you need to product record of your purchases for food to show him only how much it is actually costing you to purchase satisfactory for the month. Then you both need to opt what is the best way to divide that cost (such as base on two people, three empire, or four people) and who is responsible for whose food costs. Are you to be the only one responsible for your children's food or is he to share that nouns with you?
Stop ingestion out if you are the only one purchasing the food. If you both want to get through out then set up a set amount surrounded by your budget for eating out and divide that cost by two.
Most men that I hold known are of a mind to pay most of the bills themselves but I know that is to say hard to do these days so divide the utility bills up according to income levels. I be going to add up everything and later divide that costs.
If your expenses are already much more than his you need to prefer if there are things you can bring rid of or things you can pay smaller number on without effecting your credit and in need minimizing your debt to the point that interest accumulates more.
I know you don't want to bring back rid of things but two car loans? Surely, you could part of the pack with one. That would cut your loans down and your insurance, coup¨¦ registration, inspection fees, gasoline, oil, upkeep and in the long run hide away you quite a bit. If the coup¨¦ is for him then you obligation to make sure he pays you for the loan respectively month.
Pay off your credit cards and cut them up. Credit cards are not income. Credit cards are freshly more debt, an easy excuse to spend when you shouldn't be.
Stop going out. Rent movies instead. If you a short time ago feel you enjoy to go out once surrounded by a while then put it contained by your budget and again make him reimburse half.
The leading thing to do is set up a budget. Write down adjectives of your expenses and separate them by his, yours and ours then agree on what respectively other needs to reward. Don't short yourself or give into his wishes at the expense of your own life span.
I hope things work out better for you. Living with this surreptitious feeling of doom over finances will finish up making you resentful and angry. Talk it over with him and procure out of debt.
Good luck.
My question would be how did you establish to let him treat you approaching that? Doesn't sound close to an even remotely equitable relationship. If the two of you are living together (how do you each own a home?) then you requirement to develop a long-range plan, develop a budget, and stick to it.
If he's not the father of your first child, is that one paying you any child support? He should.
Is this one planning on putting any money out for his kid?
Frankly, I think you call for to take a virtuous hard look at this because unless you desire what you want things will only deteriorate, and yes, they can.
I reckon you already know the answer to this question, you purely want confirmation.
What you describe isn't the way a loving partner feel about their significant other.
What would transpire if you printed out your question and hand it to him to read. Sounds like you inevitability to have a serious parley about your relationship and your expectations of respectively other, especially with a infant on the way.
Good Luck to you.
Have you considered marry the guy?
You do have a babe girl on the way. She deserves a stable home, and not bickering roughly speaking "his money" and "her money".
If you're going to share raising your babe girl, then you'll want to share finances.
I'd sell one coup¨¦, the snowmobile and the camper to raise money and you won't hold to pay the insurance for adjectives of these things.
If i have a student nouns..?
and i couldnt afford to pay it support at all after graduation.. could i profile bankruptcy on chapter 7?Answers: You can not record bankruptcy on student loans. Student loans are hindmost by the government.
The policy will get their money.
Filing liquidation will not get you out of paying your student loans.
Get a copy of "The Total Money Makeover" by Dave Ramsey, and he'll donate you more advice.