Mr and Mrs K's New Journey to a Debt Free Life.

heartbreak_star

I can't even envisage spending that much on impulse buys, or even on "stuff" in general. Maybe over the course of a year...

If it's any help, that's 4 months wages for me, so I couldn't do it even if I wanted to

At least there is some realisation. Grab hold of the control again!!

HBS x

AlexLK

maman wrote: »

So is this something to do up/sell on or just a gift to yourself?

A gift for Mrs. K. as it's coming up to our wedding anniversary and something for myself. No, I know this is not "good", "big" or "clever" but I'm losing momentum for money saving whilst being full of guilt for purchasing "unneeded" items.

heartbreak_star wrote: »

I can't even envisage spending that much on impulse buys, or even on "stuff" in general. Maybe over the course of a year...

If it's any help, that's 4 months wages for me, so I couldn't do it even if I wanted to

At least there is some realisation. Grab hold of the control again!!

HBS x

Thanks, HBS.

My salary does not really reflect my profits, so there is quite a lot of money in the business account at all times which has lead to temptation as of late.

heartbreak_star

Come on Alex. You can do better than this!! I have faith you can rein this in.

Can you mentally detach the business money from your personal money? Is there a way of blocking personal withdrawals from the account maybe?

HBS x

Mara_uk7

Maybe you should amend your signature to reflect this increased debt ? For it surely is a debt.

LannieDuck

Why are you spending business money on personal items? If this isn't just a one-off, maybe you need to increase your dividends from the business and be honest with yourself about it.

AlexLK

heartbreak_star wrote: »

Come on Alex. You can do better than this!! I have faith you can rein this in.

Can you mentally detach the business money from your personal money? Is there a way of blocking personal withdrawals from the account maybe?

HBS x

I have been mentally detaching the business money but I have no personal money other than enough to put diesel in my LR (I don't have any personal money to run my other car either). As for blocking personal withdrawals I don't see how that would be possible either.

Mara_uk7 wrote: »

Maybe you should amend your signature to reflect this increased debt ? For it surely is a debt.

For the moment I am not declaring it a "debt". However, it is something I have got to think about.

LannieDuck wrote: »

Why are you spending business money on personal items? If this isn't just a one-off, maybe you need to increase your dividends from the business and be honest with yourself about it.

It's a one off for an amount this big. I do run my Triumph out of business money as I have no other way. The answer, I suppose, is because I have no personal money to spend and no point increasing my salary (or one off dividends) as that would just go to bills.

mum2one

Do you really need this item - or is it a I can spend from the business account as I have no money bar the pocket money...

I think you need to start taking money from the business as a wage - and you need to speak to Mrs k about this money situ - yes she may be the wage earner but if it wasn't for you being there for Little K, she would not be lucky enough to be able to have her career, yes some people go back to their career others aren't that lucky and children take the priority.

Thats lovely a wedding anniversay, but really that much, whether or not its worth more than what you paid for it sounds like its not going to be sold on it sounds like it is going to be kept...

OK I fell lucky with my recent purchase, - worth almost 10 times what I paid, but I didnt buy it for that reason (I had no idea) I brought it as it was half bday present.

It seems to be that youve come to a stand still, Mrs K is spending and your following along on the weekends with this habit.

I'm not picking but I do worry that your going down old routes.

AlexLK

mum2one: I feel ultimately my marriage is more important than money.

I do take a salary from the business, which goes straight towards paying our monthly bills.

You are right in that the two items were not bought to sell on.

AliBee16

Wow Alex. You must see how delusional this sounds. You are spending virtually half my yearly salary on a present for your wife to keep her happy, even though she has left you with no money to spend, and is the main breadwinner. I cant believe that your wife would expect this from you, if she knows your situation. AND you are still in debt.

maman

AlexLK wrote: »

mum2one: I feel ultimately my marriage is more important than money.

While I'd agree with that statement in itself Alex, it saddens me hugely that you believe it's only possible to hang on to MrsK by buying her a ridiculously expensive present that you can't afford.


What you've written is a bit cryptic but I suspect you've bought yourself something as well, equally expensive and unaffordable.


I'm getting a bit philosophical about your situation.


I understand that common sense and personal pride tells you that you should clear your debts and sort yourself out. You're perfectly capable of doing that and have made great strides and could do more.


Balanced against that you've had a privileged background which you can't let go and you know that you'll inherit and aren't averse to moving into the big house and maybe letting your parents finance school fees.


If that was all then I'd give you a big kick up the proverbial and let rip with my political views on posh boys etc. BUT.....


sadly you have this worry that MrsK will leave and presumably take LittleK with her. So you 'pay' her to stay.


If I were you I'd, at least, clear your debts so you can move forward with your head held high. But that's your choice.