UnThreaded | Threaded | Whole Thread (22) | Ignore Thread Prev | Next
Author: EditorialWe Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 310986  
Subject: Re: Wife's Spending Date: 8/17/2000 8:53 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 2
California is a community property state. Under California law, any debt incurred by either spouse during marriage, *whether or not you are both on the account*, is considered joint debt and you are both liable for it. The creditors can and probably will attempt to collect from you.

It sounds to me like you are tempted to let her 'learn her lesson' the hard way. That won't work, given the laws of this great state. Does she work? If so, what is the proportion of your two incomes?

It sounds like the two of you really need to have a serious, serious talk about money and your common goals in the marriage. Tell her honestly how you feel - that your futures are not secure if you are in debt, that you are wasting enormous amounts of money in interest payments when you *could* be earning money in investments instead. Preparing some charts and graphs to show her might help, if she's the sort of person to respond well to objective information.

If this is too hard for the two of you to do, you might want to consider counseling. I know (believe me, I know) that it's a lot easier to let things slide, day by day, maybe passing a remark or two but not really grappling with the issues. But you two have to come to an understanding about this, or it will end in grief. I
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (22) | Ignore Thread Prev | Next


TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.