Holy Debt!
For a long time I thought John and I were in a bad spot. Our credit is a mess and we're still struggling to make ends meet around here. Our situation should change in a matter of a few weeks as things are slowly getting better. But, I am now taking a harder look at where we are and thankful that it's not that bad and could be worse.
I am friends ( and I use that term loosely) with a gal named Kim. Yesterday during our Thursday trip to Denny's we began talking about children and money. I began telling her about a couple I know that is in debt up to their ears. They already have 50k in student loans racked up and probably another 10-15k in credit card debt. They are planning to have their first child by next year. I was telling Kim that I thought this couple was "dumb" for getting in way over their heads in debt and that the whole reason John and I are waiting to have another is so that we can get financially stable. She gave me a dirty look ( I'm assuming because I used the term dumb) and began to tell me about the financial turmoil her and her hubby are in. They're roughly 120k in debt. This is not including the loan for their home or cars. She said they pay between 9 and 10k a month to live. Meaning, car and mortgage payments ect. That's all fine and dandy but he brings home roughly 7k a month. So how do they make ends meet you ask. Well, that's how they racked up the massive credit card debt. If they can't pay for something it goes right on the credit card. Her monthly card payment is about $600 a month. Now, some of it doesn't add up. Because really, I'm guessing their payments are NOT 9-10K per month. I think she's stretching it a bit to make is seem like her hubby makes more than he does ( she said he makes 120k a year. Factor in taxes and stuff and he's bringing home about 7k) I asked her how she sleeps at night knowing how in debt they are and she shrugged the question off. She then took a jab at me and said "Well, my husband and I actually do things together as a family. We don't just sit in the house all the time. I'm giving my kids memories" At 3? Do you remember when you were 3? I sure as hell don't.
I am friends ( and I use that term loosely) with a gal named Kim. Yesterday during our Thursday trip to Denny's we began talking about children and money. I began telling her about a couple I know that is in debt up to their ears. They already have 50k in student loans racked up and probably another 10-15k in credit card debt. They are planning to have their first child by next year. I was telling Kim that I thought this couple was "dumb" for getting in way over their heads in debt and that the whole reason John and I are waiting to have another is so that we can get financially stable. She gave me a dirty look ( I'm assuming because I used the term dumb) and began to tell me about the financial turmoil her and her hubby are in. They're roughly 120k in debt. This is not including the loan for their home or cars. She said they pay between 9 and 10k a month to live. Meaning, car and mortgage payments ect. That's all fine and dandy but he brings home roughly 7k a month. So how do they make ends meet you ask. Well, that's how they racked up the massive credit card debt. If they can't pay for something it goes right on the credit card. Her monthly card payment is about $600 a month. Now, some of it doesn't add up. Because really, I'm guessing their payments are NOT 9-10K per month. I think she's stretching it a bit to make is seem like her hubby makes more than he does ( she said he makes 120k a year. Factor in taxes and stuff and he's bringing home about 7k) I asked her how she sleeps at night knowing how in debt they are and she shrugged the question off. She then took a jab at me and said "Well, my husband and I actually do things together as a family. We don't just sit in the house all the time. I'm giving my kids memories" At 3? Do you remember when you were 3? I sure as hell don't.
posted by Katrina @ 7:40 AM
1 Comments:
At 2:17 PM,
Sarah said…
Wow, Kat. I'm really beginning to wonder about how honest she was being with how much her hubby makes. If he's making $120K a year, despite the nice home and Hummer she drives -- to be THAT MUCH in debt doesn't make sense. Isn't this the same person that on an afternoon run to Target spent a couple hundred on toys for her kid for Christmas??? And really - yes, she's making memories for her kids. That is fine every ONCE IN AWHILE. Otherwise, to do it all the time - not only is the kid going to be ungrateful (getting to do fun things every time he asks or whatnot) - but the kid will grow up with a memory of mommy & daddy being in the hole. And who will have to pay off all that debt when the parents croak? Yep, those kids.
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