Since being discharged from Ch 1 in 8/07 it seems I cannot get my husband to save any money. I can't even get him to open a checking or savings account. What do you do to change their minds?? He has this idea that all banks screw you but I think the real problem is he has no idea on how to manage money unless it is cash, and not well then. My begging and nagging is definitely not working. And I think we are headed down the same path that will force us to file BK again in the future if not careful.
Hate to say it, but I won't go down this road again, ever, even if it lands me in divorce court next.
He makes decent money, but not the best, and I am a stay at home mom of one. I want to get a job, but he don't. The bad thing is now we have no debt, pay our bills on time (electric, water, phone, rent, car, did away with cable becuase of the $$, and the cell phone is pay as you go and not used much) and in 8 months he has made over 25,000 and I have a $250 recliner and $75 entertainment center from Walmart to show for it. The rest is blown, our bills are about 950 a month, so where does the other 1200+ go? we live paycheck to paycheck which I hate.
How do I get him to want to save and rebuild credit so he can have a life?
that is a great way to look at it. I would take his wallet from him and start managing finances myself if I thought I could get away from it. would you believe that I had to do mine and his credit counseling online in order to get discharged? I paid attention twice and he is still in the dark.
Depending on how likely your husband is to respond, try to get him to have a checking account. Get a debit card and make ALL purchases on it. That way you can find where the money is going. It's crazy to think about sometimes. But I assure you that a cup of coffee from the gas station every morning, or that candy bar/soda out of the machine for lunch add up quick!
Oh - and do try to get a bank account with a nice CU. They don't have the fees and are usually IMO better/easier to work with.
What worked for us was establishing a budget that we both agreed on.
Sit down together and decide how much from each of his paychecks will go towards household expenses and savings and then decide how much is your "fun" money. Let him handle all the "fun" money in cash for things like eating out and misc purchases, and you take care of the household expenses and savings.
The book that got us on the right track was "Total Money Makeover" by Dave Ramsey. This completely changed everything in our lives in regards to our finances. But the number one thing was our budget. This book is really good at helping people get down to the basics of finances and work their way up.
Yes, I thought about getting a CU account through his work. He works for Tyson foods and they have partnered with I think it was Phillips 66 Oil/Gas for the credit union. But we plan on moving back to oklahoma possible Dec 1 and they don't have one there. I thought about going with BOA since they are in both places, but they denied him an account, approved me. said his credit score was too low.
But there are some good credit unions over in oklahoma that could be a possiblility when we get there.
I can't blame it on coffee and junk at work, he doesn't drink coffee, and only takes $2 or 3 with him. His wallet stays at home. I think it has alot to do with eating out and constantly going to okla because he doesn't like it in arkansas anymore. says there is nothing to do here. nice weather but boring.
And never think you can't get tired of eating chicken. They have an emplyee store and we buy chicken by the case. very cheap, but it gets tiring. and don't let Tyson have a recall, that is when they throw an employee BBQ No, they make tortillas for taco bell and other mexican restaurants where he works, but they do seem to do the BBQ thing.
If he or one of his parents were in the military you could get an account with USAA- they are a phenomenal bank, and we had really low scores when we first opened our account- very low 500's- and had no problem opening an account.
I tried to get him on the budget thing, I even drew one up. but I got laughed at. he thinks he can spend what he wants when he wants. I told him tonight he had an instant gratification problem. I do take the bills out first though. That is the best I have done so far. And he does make sure the baby has enough diapers and stuff, so he is good there.