Hopeful (Beware: this is a long entry)

iVillage Member
Registered: 05-26-2006
Hopeful (Beware: this is a long entry)
4
Sat, 06-03-2006 - 1:48am
I really appreciated the responses I got concerning my first posting. It really helped to make me feel better just having a nice community to share with.
I've done a little more calculating concerning paying off my wretched $5000 of cc debt. In August and again in January, I will get a refund check from my university to apply to college costs, as a part of my student loan policy. However, my books rarely exceed $300 or so. I plan to apply the rest to my debt and hopefully to be able to create a little "cushion" in my savings account. I really feel that if bugeted carefully that I may be able to pull myself out of debt by next summer at the latest. This is very exciting! I'm really hoping that it will work out that way.
I've thought very carefully about telling my family and my boyfriend about this debt that I created. As I mentioned before, money is rarely mentioned in my family. It would be a little uncomfortable to tell them about it but I did consider it. I don't think that I want to say anything, not because it's a secret I want to sweep under the carpet but I know that they will try to help me out of the debt. I don't think that reaccurring more debt is something I'll have to deal with, I definitely think I've learned my lesson. This is my problem that I created that I want to take care of by myself. If indeed, I am able to get out of cc debt by next summer, it shouldn't really be a problem at all because we're only talking of marriage in the future of about four years from now, due to my graduation and our saving up for the wedding. We don't share finances or even talk about how much we have in our accounts. All I know is that he has been saving up for an engagement ring which coincidently, the amount of his savings and my debt are about the same. I'm afraid if I tell him about my debt, he'll try to offer this money that he has saved for our engagement to help me. I feel so terrible about this because I'm ready for our future in all ways except for education (I want to graduate college before getting married) and financially. I'm not materialistic enough to care about an expensive ring, but I don't want to take away from his excitement over planning how he'll propose to save myself from debt, when with time, I think I can do it myself. It's really cute though, planning the proposal is all he talks about, he really wants it to be special and I can't bring myself to tell him about my financial mess. However, if for some reason, I don't get out of cc debt before we start planning a wedding, I would most certainly tell him then about my situation. He knows about my student loans and car note, so they are not much of a concern.
Thanks for reading, sorry it was so long.
Best wishes,
Sweetiepea
iVillage Member
Registered: 09-25-2003
Sat, 06-03-2006 - 4:14am

Hi!

I meant to respond to your first post, although I think you got some good responses. I think it's great that you're getting everything squared away before marriage. I wish I had, but at least DH and I accumulated the debt together, so we can pay it off together. Of course, if you've read my other post, you can see that he's very enthusiastic about it.

Have you looked at selling back your used textbooks? I sold back a few of my second year textbooks, and managed to get a couple hundred dollars for them. Our bookstore takes used textbooks as well, and gives credit for new textbooks. If your school does this, you might be able to save a bit on your textbooks. (Don't sell books you're going to need for reference though).

Anyway, just saying hi.

iVillage Member
Registered: 03-27-2003
Sat, 06-03-2006 - 11:52am

You sound like you have a good plan. I was one of the people who responded to your original post suggesting that you tell your boyfriend, but if you think you can get it paid off in 12 months, then you're right, you probably don't need to fill him in. And at least he is aware of the student loan debts. I'm 40, and my mother would flip out if she knew how much debt I am in, so I understand not wanting to discuss it with family.

Heather

iVillage Member
Registered: 01-06-2005
Sat, 06-03-2006 - 12:56pm

I'm glad you are feeling better about your situation!

 

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iVillage Member
Registered: 11-09-2004
Sat, 06-03-2006 - 11:01pm

Hello,


I'm glad to hear you have a plan to get out of debt. Honestly, I think that bringing up finances with your family and boyfriend, while uncomfortable,

Sincerely,
Lindsey Schocke

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