MMD: Should Wayne protect his finances from Coleen?

mohthom

I'm confident that Colleen would want to protect her money if she was bringing £50k to the table. Why should it be any different if she's £50k down? Get a prenup!

MohThoM

Primrose

Not only should he be keeping his finances separate, he should seriously be considering whether he wants to continue in this relationship. I don't believe in lightly ending marriages but there has been such a serious breach of trust and honesty here that one wonders how the relationship can go forward. No partnership can survive and thrive if both parties don't feel financial secure and safe with each other.

garry1977

i have been in a situation very similar to that which has been written about i am not a compulsive spender nor am i a moron, but my debt was run up by getting married itself which was mainly put on credit cards and the addition of children so my wife had to give up work to bring them up all in all when it got to its worst point i was in debt of around £36,000.

rather than cutting our losses and seperating what funds were available, we did what i would advise anybody to do in a relationship that is loving and that is to pull together to fix the situation.

6 years on from that i have all but cleared my debt through working together as a couple.

also just before i go working family tax credit what a joke!!!!!!!!!!!!!!!!!!!!

but that is for another day

Kernow_Kid

Simple - increase her life insurance, then let her meet with an "accident"
:rotfl:
No debt to worry about :beer:

emmy05

im really quite shocked by his reaction, have we all forgotten how she wouldnt spend his money in the first place, and he was encouraging her somewhat to do just that, especially when she went to New York shopping, im sure his finances are sound and in order, and what i can see of Colleen, is earning a pretty penny back with her own projects anyway x

Voyager2002

Not a moral question, but a simple matter of common sense: if they become financially linked, they won't get a mortgage. So any property purchase should be in his name alone. The moral dilemma comes in whether they arrange to put her name on the title deeds or otherwise give her rights to the property.

codger

Being saddled with a naff name by his parents may not be something this hapless taxi driver wants to do something about, but being saddled with a naff wife is easily corrected.

Emigrate.

Taxi drivers I know work hard but clearing a £50k debt in addition to setting up house, starting a family, etc ain't ever going to happen.

Best for Wayne's World to have a new horizon as far away as possible from the mad Colleen.

grrrl

emmy05 wrote: »

im really quite shocked by his reaction, have we all forgotten how she wouldnt spend his money in the first place, and he was encouraging her somewhat to do just that, especially when she went to New York shopping, im sure his finances are sound and in order, and what i can see of Colleen, is earning a pretty penny back with her own projects anyway x

You do realise this is a hypothetical situation, don't you? They're not talking about the Wayne and Colleen!

Merson_Tuffers

My now husband had a wedge of debt (thanks to spendaholic 1st wife!!) when we met. He didn't mention it at first but I sussed it out. He is currently paying it off himself and I made sure that I protected myself as much as I could (pre-nups not being legal in this country ) before our big day.
Wayne, therefore, should absolutley NOT have any form of joint agreement with his wife as any future credit checks on him will list her by association. He should have the mortgage in his own name and Colleen can pay towards it. After all, if they divorce, she will still be entitled to 50% of it as it was purchased after they married. This also protects the roof over their head should she decide to declare herself bankrupt.

browolf

he should buy the house and pay the bills, she can pay for everything else less critical and hopefully her debt. maybe one day they'll be able to afford something decent above what a single person salary can afford. it doesnt always go to plan tho. thats what I did and my ex still managed to rack up some massive ebay debts a few years later.