Confession - ouch

[Siebrie]

Dear fellow-frugalites,

I have a confession to make. I have been a member for some time now, and enjoyed reading the posts and adding my bit of knowledge to the discussions. However, this was always with a slightly smug feeling (sorrysorrysorry), because I was not in debt and never thought I would be.

Picture my big surprise last night when DFiance asked me when I was going to pay him his 1,000 euros back! I had borrowed them and then completely forgotten about them! Talk about selective memory loss! So then, I had a good look at my bank account and added up how much my parents had given me over the last few months. They had been giving me small amounts of money and paid for the washing machine and fridge after I moved here. I owe them over 2,000 euros! Blimey! (So in USdollars and taking into account the rate of exchange, those two loans are around 4,000 USD)

DFiance will not charge interest, but should be paid back, of course. My parents do charge interest; they charge the percentage they would have gotten at their savings' account, which is around 3,5%. Both loans have no time-limit, but do require full payment.

Pfffft, and I thought I was going to be able to save from my next paycheck.....

I will have to have a long hard think about my finances for the next few months: we are getting married and if all goes well, we'll have a baby in July. I cannot see any other major costs in the next few months, but all the minor costs might add up bigtime.

I'll update my siggy shortly with the correct numbers. The numbers are still at home, and I am at work, typing this in my employer's time, on my employer's computer, naughty.

[Daisygirl]

Hey at least you figured it out now and cna get on top of it.

I owe my mom and dad money too. They payed for some of my legal bills recetly. They would be happy to get $50 a month and are not charging me any interest.

[Jskell911]

It sure is no fun adding up the debt initially! But, now you have a good grasp on it and can work on it!

[homemaker66]

At least you have an idea of your debts. Stay here with us and we will keep you on track when you need a push along the way.

[brenda67]

Please help me to understand this? You have to pay back your fiance?
Maybe I'm a minority? But if I was engaged and pregnant with my fiance's baby wouldn't it be our money? I can understand your paying back your parents..

[Siebrie]

Yeah, it's the money from the first job he was legally allowed to do since coming to my country, so it has sentimental value.

Besides, we just moved to a different country, he does not have a job yet, but will have to buy his own (wedding) suit. He wants his mum to come to the wedding, which he will have to pay for, etc. As long as he has not got his own job, but does have the pride to pay his own expenses, I'd better pay him back his own money.

[frugalchick]

Hang in there, YOU can do it!!!

[FrugalMomof3]

Please help me to understand this? You have to pay back your fiance?
Maybe I'm a minority? But if I was engaged and pregnant with my fiance's baby wouldn't it be our money? I can understand your paying back your parents..

Your not a minority and I agree about not having to pay back the fiance, his money is your money and your money is his money. 2ndly, you live together and he has no job right? So who's paying for all the bills? Is he going to pay you back for his half?

I do however, agree with paying back the parents

[Katybird]

You have completed the first step in figuring out what you owe and now you can figure out a repayment plan. Do you want to pay both obigations at the same time, x amount of money to each party each month or are you planning on paying off one debt and then moving on to the next? I you pay them both at the same time, you can snowball the debt after you have paid off the smaller debt and get the larger paid off faster. However you decide to do it, we will all be here to cheer you on.

[HappyMama]

Good job figuring things out and we are here for you!

[Didi]

Yeah, it's the money from the first job he was legally allowed to do since coming to my country, so it has sentimental value.

Besides, we just moved to a different country, he does not have a job yet, but will have to buy his own (wedding) suit. He wants his mum to come to the wedding, which he will have to pay for, etc. As long as he has not got his own job, but does have the pride to pay his own expenses, I'd better pay him back his own money.

Sounds reasonable to me. I've been married for almost 10 years and we have separate bank accounts. We never had an argument about € (and guilders before that) and we both have no debts (except for the mortgage).

& good luck with getting into the black numbers again. Perhaps you can use part of the holiday money for it? Also, you may want to start looking for baby things (sales, second hand stuff, cloth diapers etc.)