Can you help sort out this finacial mess ?

wishfull

Hi
I hope you can help I have been reading these boards and have plucked up the courage to see if you can help me and y other half. I hope you can.
The problem mainly lies with my oh who at 35 will take no responsability for his finacial affairs, he is wasting so much money it is awful and we will have no furture if he continues. Plus I am sure he he overpayingmassively and making banks/credit cards a fortune. I hope if you can advise me I can point him in the right direction and hopefully get out of his rut. He never knows how much money he has in his bank, never even checks and could not tell you who he pays too. The bank regularily hit him with penalty fees and he never even knows ! He has 2 jobs and the second one has a variable income so I have gave a rough calculation for that.
I have got a lsit of his income and expenses,which I have done monthly -
INCOME
MAIN PAY NET- £1135.00
2ND INCOME NET - £800

OUTGOINGS
EGG CREDIT CARD PAYMENT - £150
ROYAL BANK PERSONAL LOAN £334.75
MOBILE PHONE ( VARIES ) - £100
BROADBAND £29.99
KWIK FIT £11.81
ROYAL BANK CREDIT CARD £21.00
CAR LOAN £191.00
BT PHONE BILL £30
RENT/DIGS MONEY £140
ROYALTIES ACCOUNT £25
egg loan £202
petrol £140


He has an overdraft at his bank of £700 which he is never out of and another overdraft of £300 on his other bank account. The royal hoodwinked him a while ago into taking out a consilidation loan and a royalties account. I fear he is tied to this and this takes away a chunck of his income. He keeps forgetting to pay his royal bank account credit card and they have taken about £200 in charges this year for this.

The egg card is at £4850.00 , the egg loan is at 7.9%apr and there is about £4750.00 still to pay ( this is a fixed loan which was for 36 payments and finishes on sep 2008).
I dont have all the details of the big loan but it was originally for £11000.00.His royal bank credit ard is owed £ 213.56 and has a monthly intereast rate of 1.456% .
The car loan has just been taken out this month and is for 3 years.
Kwik fit are owed £295.36 and I have no note of the inteast .
The kwik fit and royal bank credit card are never used. The egg card occasionally.
If I need to give more information let me know. He stay with his parents so only pays digs so has no set expenditure apart from the broadband & phone. I know his mobile bill is horrendous but it has always been like that.I would love to have his income but he never has any money.We are unable to move on because of all this and at 35 he is far too old to still live with his parents.

jellycat40

Sorry but if he refuses to do anything about his mess I do not see what you can do.
He needs to grow up, 35 and still living at home probably means that he does not need to.

If you are serious about this guy then you will have to learn to live with it until he is ready to wake up and smell the coffee.

If I were you I would bail.

Sorry but you can't help those that won't be helped.

Good luck and hugs

Louise

gbmacqueen

100% with jellycat40 on that.

jen30_2

:wave: Hiya Wishfull, Welcome to the site. :wave:


I'm sure the experts will be along shortly to give you some great advice. I think the main problem you have is getting your OH to wake up and smell the coffee and realise that he needs to do something now. If he's not willing to change then I'm affraid your banging your head against a brick wall :wall: Sorry if I sound harsh but it's HIS problem and HE needs to do something about it not you.

Can you get him to look at this site? Have you talked to him or have his parents?

pounds_and_pensive

I agree with everyone else. With the best will in the world, you can't have somebody else's lightbulb moment for them. All you can do is point them in the direction of the switch. The best way to help him is to keep setting a great example with your own personal finance management, letting him know that he can count on your support when he's ready to follow you. Good luck

wishfull

I also feel responsable for part of the debt and know I have definately contributed to a lot of it and it would help me if I could help do that as finacially I cant
I showed him the site and he said its great and would love to be able to sort how his money but he doesnt know how. His parents are probablypartly to blame really as all their kids are in debt , my oh is the best off. Although his parents are very spendthrift, and live very well on their pensions they have never passed it on to their 4 kids..
I only get about £380 a month and have too keep a house on it until 2 years ago I had a great income but things happen. He says I am amazing with money but if the time comes that I can afford to get a mortgage ( in about 3 years hopefully ) I fear that his money problems will drag us down.We have been together 6 years and I think its time we started to act like adults. Also finacial security would mean so much to me as having to live in poverty for the past few years takes too much of a toll on me.

CLAPTON

you need to think about your own future and what your ambitions are for the future and whether they are compatible with this guy.