My boyfriend is starting a budget!

December 6, 2008 at 9:38 am (Improving Financial Health) (, )

This is exciting! After 2 months of talking about money, budgetting, and spending habits and all the things I’ve been finding out, my bf finally decided he wanted to have a budget.

He has $800 in debt on one card, he owns his beater of a car outright, has an ok paying job, moonlights as a wedding photographer in the summer and has regular pet sitting gigs for extra income which he gets fairly often. He is always having missed payments on all his bills, and his organization is a complete disaster. He’s doing what a lot of us (and even I) have done: avoiding money because we’re ashamed of how poorly we manage it, which just makes it worse. It was a pretty emotional night last night, trying to get a budget set up for him. He’s still fighting about looking at his past expenses to guage his spending habits and to figure out the yearly expenses that don’t happen every month, so I’m not completely sure how successful it will be for at least a month or two, but we’ll use December as the starting point. He says he will keep all his receipts, and he still wants to pay cash instead of  the debit card (even after losing $200 last month). He also realized his BoA credit card is at 37%. Yikes!! He didn’t even know, that is the saddest part.

He asked me to be patient with him. There was a lot of tension and upset; it wasn’t anger with me, it was shame and guilt. I understand. I do really. I can remember avoiding even logging into my online bank statements because I didn’t want to see how bad it was (which meant I didn’t have enough when I went to buy food, which meant overdraft overdraft fees, I’m sure you can see the viscious cycle). But the upshot is, he can fix this in 2-3 months and start improving his rotten credit. I on the other hand, have great credit (I think it’s in the mid 700s, but I don’t know for sure; I don’t really care, I don’t need to know, and it’s not worth paying for right now). But what does that matter, having great credit when I also owe $44,000!!!!!  I would easily swap places with him.

So he’s going to start saving up for buying property, and I’ll make sure he starts paying all his bills on time, and get that darn stupid credit card paid off. THEN we will work on improving his credit. And when he finally gets school done and gets a good high-paying job he can buy all the groceries, take me on trips, and take me out to eat! A girl can dream, right? I’ll settle for a nice sushi dinner with sake and beer.

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