Feeling Hopeless w/Debt

Avatar for mymartes
iVillage Member
Registered: 03-26-2003
Feeling Hopeless w/Debt
23
Thu, 08-25-2005 - 3:13pm

Well...i'm so bummed out and still pissed at my husband for the van. He picks it up today. He'll have to charge it because the money we have saved has to be used for the construction on the house.

Our debt looks as follows:

First usa (.99% till 12/05) Balance: $5,114.98
MBNA (0% till 2/06) Balance: $10,777.79
Citibank (12%) Balance: $6,441.13
Timeshare (13%) Balance: $3,831.99
Student Loan (mine-5.05%) Balance: $7,401.15
Student Loan (his-8.25%) Balance: $10,040.64
MBNA (22%) Balance: $2,500.00 (Added today for Van repair) I think I'll focus on paying this one off first.

TOTAL: $46,107.68

Just needed to post. Our debt has been going up instead of decreasing. Feeling very discouraged.

Thanks for reading.

MYM




Edited 8/25/2005 3:17 pm ET ET by mymartes

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Avatar for cl_phocid
iVillage Member
Registered: 03-26-2003
Thu, 08-25-2005 - 4:31pm

Hi there - I am so sorry about this.

All my best,
Danni

iVillage Member
Registered: 06-18-2004
Thu, 08-25-2005 - 5:15pm

Just to let you know you are in my thoughts.

I understand that the 22% is hurting you inside. And from this and your other posts, I would say your husband doesn't approach finances the same way you do. I wish I had words of wisdom, but this is the very issue dh and I are just now resolving.

I wish you luck and I would definitely pay off the van repairs first.

Good luck and you are in my thoughts.

Kellie

Avatar for mymartes
iVillage Member
Registered: 03-26-2003
Thu, 08-25-2005 - 6:10pm

He knows how pissed I am at this new additional debt. He also knows that he now needs to leave that credit card at home. (That was his emergency one).

I told him that he has to take lunch every single day to work. Days that I don't cook. He has to take tuna fish sandwich, or peanut butter and jelly sandwich or a can of chef boy r dee. That's how serious I am.

Thanks Danni.

MYM

Avatar for mymartes
iVillage Member
Registered: 03-26-2003
Thu, 08-25-2005 - 6:16pm

Kelli,
He pisses me off sometimes. This particular credit card he carries has a 22% interest. Therefore, when he charged anything to it, I tried to pay it off when bill arrived. However, with this amount charged to it, it will take longer.

He easily charges minor things to his card. for instance, his train pass cost $76 a month. He'll charge it instead of using are debit card. I think what I'm going to start doing is giving him a set amount of money to last him two weeks. If he spends it, then he gets no more until next pay.

I was also thinking about using an envelope system that alot of gals here use. With the construction on the house, we have been getting alot of unexpected bills that are not in our budget. Therefore, I need to make our budget tighter.

Thanks, Kellie.

MYM

Avatar for mymartes
iVillage Member
Registered: 03-26-2003
Thu, 08-25-2005 - 6:17pm

CORRECTION:

The charged to the MBNA at 22% interest for the van repair is $2,768.21.

Tax had to be added.

MYM

Avatar for cl_beckymk
iVillage Member
Registered: 03-19-2003
Thu, 08-25-2005 - 8:29pm
Just wanted to give you a hang in there pep talk.
Avatar for mquin73
iVillage Member
Registered: 03-27-2003
Thu, 08-25-2005 - 8:43pm

Hugs MYM. I completely understand. Ours is looking pretty similar to yours. It's horrible. Our's has gone up, I swear, $5,000 in the last year. How can that happen? We carry the cards then we put them away we carry one or two again and we put them away. It's such a vicious cycle, I'm ready to be over with it.

Hang in there.
Michelle


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iVillage Member
Registered: 05-19-2004
Fri, 08-26-2005 - 11:40am

Hi mym~

I know the feeling when dh does something blood boiling like that. Mine likes to withdrawal money from the atm without checking with me first. He says he checks the balance at the machine and "there's plenty in there!" I say "Ya- but the bills I sent have to go through and WILL bounce if that money's gone!!!!" DUH!

He also used to charge stuff and use the high interest card and I'd have to dig under couch cushions just to pay that thing off by the end of the month. Like the time he bought me roses one Valentine's Day. On the high interest card!!! THey were $50!!!!!! I don't want presents for any holiday(to save the money) and he knows it!! Needless to say I through a little fit!! I know I was being mean--- but we were trying to pay off debt!! He's married to me~ he should know I'd be mad!! THey died within the week. He doesn't use the cards anymore.

Just curious- Are you remodeling or building a home? (Sorry if you stated it in another post) But what unexpected expenses have popped up? We will be building next Spring and I'm quite nervous about that. We have to pay the surveyor and permits out of pocket- but I think the construction company will roll everything else into our loan(hookup fees, excavation..). (Hopefully) Thanks in advance~~ Nicki

iVillage Member
Registered: 06-16-2004
Fri, 08-26-2005 - 12:16pm

Sorry you are feeling this way. Just remember it will get better. Have you tried to refi the student loans? DH refi'd his down to 3.something %. It may be worth looking into it.

I know my DH is really lazy about debt. If I don't pack his lunch then he eats at work, and he doesn't get by cheap. Intead of making his own small salad for $1.92 he gets prepared one for $3.50, he buys a soda instead of having the crystal light that the company provides. It irks me to no end when I see the bank statement and he spend over $5 on lunch because he was too lazy to make his own, and too thughtless to make it a cheap lunch.

Sorry i got off on my own vent there! Back to you, any chance you can balance transfer the van expenses to another card?

Nicola

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Avatar for mymartes
iVillage Member
Registered: 03-26-2003
Fri, 08-26-2005 - 12:24pm

Hey, Nicki

Our husbands sound like they are related. LOL!!!

We are building a new home in Poconos, PA. The unexpected bills are for instance, the well was dugged at a deeper depth than our allowance was. Therefore, we have to pay the difference and pay for a better pump. Another thing....We're having an unfinished basement w/rough pumbing for future bathroom. Need some type of lift pump for that. New building code...basement, although it's unfinished need to be insultation. (Which would make easier to finish because then all we need to add is sheetrock and get electrictrian, plumber.

Thank goodness when they dug ground for exacuation(sp?) they didn't need to blast. (Note...when builder break ground there may be alot rocks, therefore, have to blast).

Another note....when electricity is done, the client has to pay the electric bill that they use in building in your home. You have to pay for the portable potty, etc. The permits we had to pay out of pocket.

We hired an inspector to oversee the project. Each time he goes to look at the house (before my husband signs off on that particular phase which is completed), that's a bill we will be getting. Well worth the money, if you don't know anything about building a home.

These are just a few things.

Good luck.

MYM

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