Loans...

[Ellie]

when me and DF move in together in florida, it's gonna be kinda hard finacially for us, and he wants to take out a loan to help that.

I don't want a loan, i'd rather struggle for a few weeks then have money that we need to pay off later down the line, y'know?

I don't really know what i'm asking here, but has anyone got any budgeting strategies/tips/plans that i could show to DF that would mean we would be able to cope with little money without taking out a loan?

[carolinagirll]

I would sit down now.

Write down all your bills and utilities...

if you have credit cards look at interest rates.

We do this EVERY paycheck my husband has to visually see our bills bc me telling him it just does not register. I think a loan would be a last resort but you will not know until you look at all your bills combined.

[mraynee88]

I understand where you're coming from. If you're uncomfortable taking out a loan then talk to him about it.

I work at a loan place. We give out small, personal loans. Our interest rates are fairly high... but we work with people who have bad or no credit. We deal with strictly military members. Not all loan places are bad, they can help build your credit, and if you can't afford what you need to at first, then I don't think it's too bad of an idea.

[Ellie]

Originally Posted by carolinagirll I would sit down now. Write down all your bills and utilities... if you have credit cards look at interest rates. We do this EVERY paycheck my husband has to visually see our bills bc me telling him it just does not register. I think a loan would be a last resort but you will not know until you look at all your bills combined.

Right now we don't have any bills because he's living in a dorm on base, and i'm with my parents in england, t's only in a couple of weeks when i go out there that we'll have an apartment and things to pay, but i like this idea for when we do have to deal with it.
Also, we don't have any credit cards, he has an emergency credit card but his parents pay that.

Should i sit him down and do this with estimates?? It'd be good to see where we would be standing.

[Victoria]

Originally Posted by Ellie when me and DF move in together in florida, it's gonna be kinda hard finacially for us, and he wants to take out a loan to help that. I don't want a loan, i'd rather struggle for a few weeks then have money that we need to pay off later down the line, y'know? I don't really know what i'm asking here, but has anyone got any budgeting strategies/tips/plans that i could show to DF that would mean we would be able to cope with little money without taking out a loan?

I don't see why the need for a loan if both you and he are doing ok NOW...

IMO, I would NOT take out a personal loan. What I would do is start selling off what I don't need. Condensing what I don't have. Consolidating bills.

If I need to sacrifice cable TV...I will do that! If I need to sacrifice my cell phone, I will do that! If I need to resort to having dial-up internet versus cable internet...I will do that!

Have you taken into account the raises he receives?!? If you need to, have him visit the NMCRS for a budgetting class!

If you two are doing ok now, then why the need to move-in together, only to have to resort to loans just to get by?!?

Personally, I would NOT move in with someone if that will put me into a financial hardship.

[Ellie]

Originally Posted by mraynee88 I understand where you're coming from. If you're uncomfortable taking out a loan then talk to him about it. I work at a loan place. We give out small, personal loans. Our interest rates are fairly high... but we work with people who have bad or no credit. We deal with strictly military members. Not all loan places are bad, they can help build your credit, and if you can't afford what you need to at first, then I don't think it's too bad of an idea.

I have mentioned it too him His parents have offered to lend him money till we get on our feet, but he says he'd rather get alone. I'd just rather struggle for a few weeks, and then have money from his paycheck going to us and bills. than have his paycheck go to bills and debt, my parents took out alot of loans and my mother is only just getting out of debt now, i don't want that to happen to us, y'know?

[ArmyCupcake]

Originally Posted by Ellie Right now we don't have any bills because he's living in a dorm on base, and i'm with my parents in england, t's only in a couple of weeks when i go out there that we'll have an apartment and things to pay, but i like this idea for when we do have to deal with it. Also, we don't have any credit cards, he has an emergency credit card but his parents pay that. Should i sit him down and do this with estimates?? It'd be good to see where we would be standing.

If you both don't have credit cards would you even be able to get a loan? If you were the interest rate would be soooo high.

[Victoria]

Originally Posted by Ellie Right now we don't have any bills because he's living in a dorm on base, and i'm with my parents in england, t's only in a couple of weeks when i go out there that we'll have an apartment and things to pay, but i like this idea for when we do have to deal with it. Also, we don't have any credit cards, he has an emergency credit card but his parents pay that. Should i sit him down and do this with estimates?? It'd be good to see where we would be standing.

From what you're posting here, IMO, you should have NOTHING to worry about.

You don't have ANY bills, so why take out a loan.

When you two get married, he will the collect BAH or you two can live in housing. Housing, utilities, water. You'll basically be in the SAME position, that you're in now...

[Ellie]

Originally Posted by Victoria I don't see why the need for a loan if both you and he are doing ok NOW... IMO, I would NOT take out a personal loan. What I would do is start selling off what I don't need. Condensing what I don't have. Consolidating bills. If I need to sacrifice cable TV...I will do that! If I need to sacrifice my cell phone, I will do that! If I need to resort to having dial-up internet versus cable internet...I will do that! Have you taken into account the raises he receives?!? If you need to, have him visit the NMCRS for a budgetting class! If you two are doing ok now, then why the need to move-in together, only to have to resort to loans just to get by?!? Personally, I would NOT move in with someone if that will put me into a financial hardship.

We are ok now because i live with parents, and he lives in a dorm on base, so neither of us really pay much, i'll be leaving my job to move, so after the plane ticket, downpayment for the apartment, stocking up the fridge and such comes out of our money, we're not really going to have alot.

We wouldn't need a loan to get by, but we would be struggling a bit at first, he wants to get the loan so we'll be financially comfortable instead.

We've already decided we're not getting a tv, neither of us watch it so there's no point

[jana]

Originally Posted by Victoria From what you're posting here, IMO, you should have NOTHING to worry about. You don't have ANY bills, so why take out a loan. When you two get married, he will the collect BAH or you two can live in housing. Housing, utilities, water. You'll basically be in the SAME position, that you're in now...