I am getting a good deal of money soon and I want to put it on a credit card bill and get rid of that bill and it would illiminate a 50 charge of interest a month. My fiancee' wants me to pay off his truck so that he can go to the bank and be more likely to qualify for a equity loan to build an addition on his house. It is in his name and we aren't married yet. My arguement is that it is my money and it will make me feel better to get rid of a credit card. he feels it is the least I can do to help to invest in an addition on the house. Who is right and what would you do?
2007-03-17 09:36:49 · 11 answers · asked by buckdamien 1 in Business & Finance ➔ Credit
You're right to pay off the interest. First of all, you have no obligation to him to help pay for his house. Also, you're probably paying out the *** in interest charges if you have a large balance so pay off the card and stop worrying about that.
2007-03-17 09:40:20 · answer #1 · answered by k_hart100 3 · 0⤊ 0⤋
YOU ARE RIGHT !
it is YOUR MONEY.
Do not let someone GUILT you into spending, or investing something that is rightfully yours. ALSO, do you even know IF/WHEN you marry this guy that YOU will want to live in his home, or will you want to purchase a home that you both have chosen.
It is best and most wisest to pay off the high credit card fianance fees each month. YOUR wonderful fiancee' took on the truck payment with his own established credit it is HIS respsonsiblility to pay for it. More than likely he had the home prior to getting the truck & was not concerened of an addition at that time. He is being selfish and thinking of himself. If you want, to please hime, why dont you pay off half your credit card debt, & invest the other half, or share it with him, but I do not want to sound selfish but YOU need to do what your first instinct tells you to do honey! Also, had he any good financial planning....he would have bought a less expensive vehicle unless he just had to have a truck for his work. He could have paid less for a vehicle and been sinking the extra money he pays on a truck payment into his home. I have never had a car payment, I have not always had the best vehicle but I have paid around $5000 cash for a vehicle and driven it for about 5-6 years with regular & routine maintenance & selective low mile, 1 owner buying it has benefited me in the long run economically. Think of the money you save each month with no car payment. Let him pay for his own truck!
2007-03-17 09:46:19 · answer #2 · answered by bex920 3 · 0⤊ 0⤋
This a very difficult situation you have been placed in. However if you do not think your degree is going to take you anywhere then i suggest you take the job. Most employers nowadays look at experience more than the degree you have. I assume it is because you would have something to offer. You also need to look into what the company has to offer you in the long term hence career progress, and most importantly job security. If you have considered all the important things and you find it is worth a move taking, then by all means take up the offer. Quite frankly i do not think an arts degree wold open many doors for you. Many graduate are sitting on them and taking up other jobs not even closely related. Good luck
2016-03-29 03:24:39 · answer #3 · answered by Anonymous · 0⤊ 0⤋
GET RID OF YOUR CREDIT CARD DEBT!! If he wants to pay off his truck let him do it, your not even married. Credit card debt is a ball and chain around your ankle, if you are only making minimum payments you will never get it paid off and it could ruin your credit. Why fix his credit up by paying off his truck, the house he is fixing up isn't even in your name. I wouldn't even marry somebody like this, he only has his interests in mind, not yours.
2007-03-17 09:42:10 · answer #4 · answered by Stuck in the middle of nowhere 7 · 0⤊ 0⤋
No one can tell you who is right and who is wrong. You have to ask yourself some questions first, Do you have a ring on your finger and have you talked about marriage? Is he going to help you clean up your credit or is he just going to leave you to deal with it? Do you trust him? You are being charged $50 each month on interest, so my opinion would be to pay off your credit card. That goes on your credit report and messes with your credit score.
2007-03-17 10:32:04 · answer #5 · answered by Nikki G 2 · 0⤊ 1⤋
Pay off your credit card. Do not be a fool you are not married. If you spend your money on his truck and he tells you to take a hike, guess what you are screwed.
2007-03-17 09:46:50 · answer #6 · answered by ? 7 · 0⤊ 0⤋
pay off the credit card..... seriously, its not just an issue of it being your money, but credit is very important, so I would get that out of the way first
2007-03-17 09:47:12 · answer #7 · answered by Carolyn B 2 · 0⤊ 0⤋
Until you are married, I recommend dealing with YOUR finances, not his. After you are married, your finances and his are one and the same. What happens if you pay of his truck and the wedding never happens? If he really wants the truck paid off, he can sell it.
2007-03-17 09:43:24 · answer #8 · answered by STEVEN F 7 · 0⤊ 0⤋
It would make just as much sense for you to put an addition on my house.Pay your own bill 1st.He's responsible for his own debt.
2007-03-17 09:41:17 · answer #9 · answered by Anonymous · 1⤊ 0⤋
pay off your credit card..don't be a fool... You are not married.
2007-03-17 09:40:36 · answer #10 · answered by worldsource19 3 · 0⤊ 0⤋