How do I save & get out of debt with a partner who doesn't seem to notice that we're sinking in debt & have ve

Answer 1

You need to have two separate bank accounts so you can monitor your expenses.

Also, it would be good that you and your partner do some accounting on your income and expenses once every 5 months.

Example:
Your income is $2000 per month
Your expeses is $2700 per month

So you're in debt almost $700 per month. Once you figure that out, you will cut all your unnecessary expenses in order for you to be debt-free.

Answer 2

Tell your partner flat out that you cannot live like this and that this spending is unacceptable to you.

Keep your money completely separate. No credit cards in common, no access to your savings accounts, no shared pool of money. Make it as separate as possible. It may not be possible to get all possessions in your name??

Start selling stuff. If you have a newer car, sell it and get a junker. Take in a room mate. Downsize everything. That should get his/her attention.

Get counseling.

This is really serious because this will ruin your life - especially when it comes time to retire, or you need emergency money. And the stress of this situation must be horrible.

If it's completely out of control, look into bankruptcy. Just looking into it might scare your partner.

Answer 3

Overspending is a behavior/personality issue. Some are able to control it and some not. Similar to people who overeat, overspending can have a psychological basis as well.

I think you need to stress to your partner that this is really important to you.

Try to schedule weekly meetings to determine where you are and what kind of restrictions (budget) you need to establish. Then have monthly meetings to monitor how you're both doing.

Finances is one of the leading causes of divorce so it can be a tough problem to fix.

Answer 4

Don't know where you are from but this is a great Webb site

http://www.moneysavingexpert.com/

sorted us out in less than 12 months!!!
It may be hard work and you have to talk a lot but the info helps

Answer 5

Cut your losses and close out the current work and move on.If not that, you will have to borrow money.