Chip Chick
Money is one of the main topics that cause arguments within relationships. Between financial stability and spending problems, this factor can be damaging to any couple who plans to have a solid future together.
A woman and her husband just took out a HELOC (Home Equity Line Of Credit) loan of $75,000 last May. So far, they have used $45,000 on renovations.
Unfortunately, her husband has a major spending problem and has taken out another loan for $20,000 to pay his personal loans, bills, and credit card off. Suspicious?
She addressed the situation with him and his excuse was how consolidating all of his bills would be much easier to manage.
Looking over his financial situation, he has another $20,000 owed on his truck and has racked his credit card back up over $4,000.
On top of all of this, he lost his job recently, which means he has zero income and no paycheck until next month when his temporary job begins.
To make matters much worse, her husband then traded in his motorcycle for $5,000 and decided to purchase a new one!
Are you currently wondering how he is making all of these payments? In a matter of three days, he managed to borrow $3,000 from their Home Equity Line Of Credit loan without informing her as a buffering until he gets paid next month.
Add this to the $20,000 he has on his truck, the $4,000 on his credit card, and the $10,000 for the motorcycle and he has officially racked up his debt without any remorse.
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