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ThatRandomJanitor

Fianances are being killed

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This is something I might of talked about slightly in the past....

I'm now going on 3 years of being a young homeowner. Alone between my seasonal tax preparer and FT work I pull in around $30,000. My wife chooses to keep a low paying management job that barley pays over $20,000 a year. Shes lied to me in the past about how much she makes to get me off of her back. This year is our first year filing MFJ so needless to say I see all since I am also preparing them.

It seems as though every time I check the bank its in the NEGATIVE zone for our checking. My wife is in charge of the finances since I work and I'm enrolled in college. I'm at wits end. Her lack of willingness to get a decent paying job is killing it for me even in the bedroom. This has always been an issue especially since I've invested into her education back when we where teenagers! I paid for her gas money to go to clinicals to have her parents blow it so I had to pay for more and she never went into the medical field. She also blew through a semesters worth of excess refund money. To put a stop to this I made sure to put the money into a CD.

Its disheartening that I have to fire my own spouse from doing finances. I'm lost on what to do. If I file divorce I'll defiantly be forced to give up the house. My name is the only name on the deed and loan.

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Don't know what to say other than you can only control you.  I have no idea where your relationship is at, but it looks like the relationship is struggling from both of your perspectives.  If the relationship is struggling, then your finances will not improve.  She won't listen and you'll just get more angry.

Do what is right for you, she'll either work with you or not - but that's on her.

Work on the finances you can control, cut up cards, stop buying coffee etc.  Work small first, be disciplined and it'll turn around.

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Thank you for the advice Shaun.

She has been applying to jobs like crazy and she finally started going out to the state WorkForce center for help with interviews and resumes. With her jumping on education and really an overall lack of experience having worked in a gas station the job offers have been killed at compensation offers. Literally school district offered her $7.25 an hour for WRAP Around program (watching kids after and before school).

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Some basics to work on:

Save 10% of every paycheque, put into savings.  

Snowball method of debt reduction.  List all debts, small to large.  Minimum payments on everything and dump every extra cent into the smallest.  Then roll that amount into the next etc etc.  Rewards you by "achieving something" every time you pay off something.

Or consider a consolidation loan.  One payment works for some people, but make sure you are not paying the minimum.

Also remember it took awhile to arrive to this level of debt; it will take time to get out.

Glad to hear the wife is trying to find another job, that sounds like a positive!  Sounds like she will have to take a low wage job, but have a look at the larger picture and perhaps time in will allow for raises/promotions or experience for another position.

Keep grinding dude, you'll get there!

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Took out one consolidation loan for massive CC debt I pretty well had to use to survive when we first bought house. It'll be paid off once taxes are back in (completing return this weekend). Opening up a 2nd savings for actual savings instead of put back bill money. Gotta find a way to cash flow what I am estimating to be a 3,000 to 5,000 soft bathroom remodel for upstairs...last person laid carpet and didn't know what they was doing last remodel.

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