dealing with debt and a financially irresponsible spouse

About Me

dealing with debt and a financially irresponsible spouse

I am married to a man that isn't exactly financially responsible. When he finds something that he wants, he will do whatever is necessary to buy it. This has caused us a lot of debt over the years. What can you do when you are married to someone that doesn't take being in debt seriously? How do you approach him or her about their spending habits? I have worked with a financial professional to learn how to manage my money, how to discuss our money problems with my husband and to learn how to reduce my debt as quickly as possible. Find all this information and more here on my blog.



Need Money? Four Reasons Why You May Want To Take Out A Small Loan

Small loans, also commonly called personal loans, are loans made by a lending institution in the amount of $35,000 or less. While small loans are not as well known as auto loans or credit cards, they can be a great way to get money you need for a variety of reasons.  Here are four of the reasons you may decide to take out a small loan. 

You Need to Make Repairs to Your Home

Repairs around your home can be expensive. A new roof, a new air conditioning unit or foundation repairs can all add up to thousands of dollars. 

Traditionally, people have taken out home lines of credit, or home equity loans, to pay for their home repairs if they did not have the cash on hand to make them. Unfortunately, when the home market declined, many people found themselves in a position of not having any equity in their home. As such, small, personal loans have become a popular finance option for those who need to make home repairs. 

If you don't have enough equity in your home to take out an equity line of credit, but you need to make costly home repairs, you may want to consider a small loan.

You Want to Consolidate Your Credit Card Bills

If you find yourself in a position where you have so many bills that you are struggling to remember which bill is due when, you may want to consider consolidating your debt. Consolidating your debt consists of taking out a loan that pays all your existing debt, so that you only have one large loan to pay. 

Traditionally, people take out debt consolidation loans when consolidating their debt. However, having a debt consolidation loan on your credit report has a negative impact on your score and lenders may not wish to lend to you with that on your report. Taking out a small loan allows you to consolidate your debt without the stigma associated with a traditional debt consolidation loan. 

You Need Money to Move

Moving, especially cross country, can get expensive fast. You have to pay for a moving truck, boxes, packing peanuts or a moving service. And this is in addition to the cost of selling your home and buying a new one or renting a new home. While many people have months to plan and save for their moving costs, other people find themselves in a position where they have to move quickly. 

If you were offered a great job far away, or have to move due to job loss, you may not have the time to save up for moving expenses and you may not have the money sitting in a savings account. In this situation, a small loan may be exactly what you need to get the money you need to make the move that is best for you. 

You Are Getting Married

In a perfect world, your parents would be paying for your wedding. However, there are many reasons why parents either don't or are unable to pay for their child's wedding. If your parents are not paying for your wedding, you and your future spouse may have to come up with the money yourself. 

In such a situation, you may consider taking out a small, personal loan. This will help you pay for the wedding that you have dreamed of without having to make cuts due to a lack of money or without having to pay for everything on a high interest credit card. 

Small loans are versatile loans that allow you to get money for a variety of reasons. There are many reasons you may wish to take out a small loan, including house repairs, consolidating debt, moving expenses or to pay for a marriage. Read more or contact your lending institution today to see if you qualify for one of these types of loans.