Dear Dave,
I’m pretty responsible with funds, but my girlfriend is in a nasty place financially and professionally. She has a high automobile payment and numerous bank card debt. Plus, she needs almost 40% of her monthly income only for rent and he or she quit her job because she didn’t prefer it anymore. She has numerous ideas in her head like filing for bankruptcy or moving in with me. She thinks that by living together she is going to learn to be more responsible together with her funds. I’m fearful that if she will’t handle her funds on her own, what is going to occur if we move in together? I’d appreciate your advice.
And
Dear Dan,
I am unable to say if she’s technically bankrupt at this point. But to start with, she absolutely must sell the automobile and find somewhere cheaper to live. Also, I’m undecided how long you two have been together, but that is someone it is best to keep dating, not marry or let move in with.
The harsh reality is that bankruptcy doesn’t solve anything if she has a heart problem. By “heart problem” I mean if she buys things considering they’ll make her comfortable, and lives way beyond her means. Many people mistakenly consider they’re comfortable where they live or what they drive. Those are the sorts of heart problems I’m talking about. And that is how I used to be years ago, before bankruptcy knocked some sense into me. It wasn’t until then that I spotted I needed to make some serious changes in my life.
Don’t get me incorrect. What I just said doesn’t suggest that this lady is a nasty person. It just implies that she must grow up. And except for all the cash stuff, you do not just quit your job and not using a solid plan unless there’s a serious issue of principle at stake or you might be the victim of abuse or harassment. Leaving one job for an additional is tremendous. But the concept of suddenly deciding that you simply just don’t love something after which quitting it when you could have a ton of economic obligations is just irresponsible. You don’t jump off the dock until the boat arrives!
Again, I do not know all the small print of her funds, but likelihood is she’s not bankrupt. Are However, there are some character issues that have to be addressed. I’d encourage her to seek out a very good financial advisor – one with the guts of a teacher. Then you’ll be able to be a support to maintain her on course and encourage her to maintain working on getting her money under control.
— Dave
