We are planning to go to the Good Sense financial program in a couple weeks. We have little credit card debt (1000), but I have lots of college loans (45000). Our credit scores are terrible. We already live on the minimum. Is it realistic to think we may learn something? My husband doesn't want to go. I'm wondering if anyone has been to one of these classes or one like it. Is it motivating or do they talk about reducing debt by cutting back on what you spend. My husband spends any extra money we have and currently is not willing cut back unless I sell my car. My car only has 4 payments (of $222) left and it has a lot of life in it still. We have no savings. My hope is that this class may excite him enough about our future that he may see "the light". Am I grasping at straws? There is a part of me that just wants to say to heck with our future because I'm the only trying. What do we stand to learn. I feel like we need to be on the same page before we tackle anything. Thoughts?
2007-03-09 04:21:34 · 5 answers · asked by Wendy B 5 in Business & Finance ➔ Personal Finance
I really hope your husband appreciates you! It sounds like the two of you would be living in a refrigerator box on the street if you were like him!
I'm not familiar with that specific program; however, your husband will probably have a chip on his shoulder at the seminar. He may find fault with every suggestion they make to save money. In the worst case, he may even argue with the leaders and other participants.
So what to do? Depending on the cost of the seminar, and whether its refundable, you should go. Ask him to come with you, but only if he has an open mind. It won't be the end of the world if you go alone. But do not go if it REALLY bothers him. You guys are a team and you have to work this out, together. Any motivation from these seminars is usually short-lived.
In five months you WILL have some savings, the $222 from your paid off car! In 15 months, you'll have a couple of thousand dollars! Alternately, you could save half of the 222 and use the other half to pay down the college loans. You really should consider saving some of it just in case of an emergency or car repairs.
There are a lot of ways to reduce spending "without doing without" if you try. First you and your husband need to identify the waste from the good. Then work together to save some bucks.
Good luck... It ain't easy!
2007-03-09 07:51:53 · answer #1 · answered by Chef dad 3 · 0⤊ 0⤋
Ya. I would go. You always learn something when you attend a seminar, whether it's good or it's bad. Don't take is as time wasted, then you'll never want to attend any seminar.
Your situation sounds pretty typical. Some credit card debt and student loan. Since you only have 4 payment left on the car. Keep it. Why would you sell it if the car runs find. The extra 222 will be very useful in 5 months.
If you husband is not willing to cut back, you really should just talk to him and go to this program together. You both need to be on the same page, otherwise your finance will not work. And worse yet, it could affect your relationship in the long run. So go to the program with the hubby and good luck ;)
2007-03-09 04:32:29 · answer #2 · answered by C L 5 · 0⤊ 0⤋
I don't know anything about that program, but I'd go, with him or without him. You should learn as much as you can, even if he's content to be irresponsible and clueless. Unfortunately, it only takes one person in a marriage spending money unwisely to get you/keep you in financial trouble, so it's going to be a lot harder to make progress if he's not willing. Secrecy and deception is not good for a marriage, but financial problems aren't either, so you might want to think about getting your own savings account that he doesn't know about and saving money in there before he can spend it. (Of course, if he does the taxes or looks at the tax returns, he'll see that on there since you will have to report the income.)
2007-03-09 04:44:37 · answer #3 · answered by Dave W 6 · 0⤊ 0⤋
first of all, i think you might be married to an idiot, but i'm not a phychiatrist. if you can wake him up or get control over your own life, you should pay as much as possible to eliminate the debts. use the $222 per month that you'll have available after the car is paid. then tell that selfish sob you are married to, to stop spending the "extra" on himself. money problems are the #1 cause of divorce. intersest on debts will eat you alive financially. go to the class
2007-03-09 04:28:51 · answer #4 · answered by Ovrtaxed 4 · 1⤊ 0⤋
If you cut back on spending and your husband finds out he will just spend more. To me it sounds like your husband has not grown up. To save money you must cut spending.
Why is he saying you sell your car? Don't you need it for work?
2007-03-09 04:30:06 · answer #5 · answered by professorc 7 · 0⤊ 0⤋