If you do not conceal the use of wages and advances from your spouse, unless you make some changes, the disclosure of funds is only a matter of time. Rapid cash advances may have solved this pressing problem, but once the repayment date comes, the cost of the loan may hurt other needs. How do you deal with debt troubles when you are not the only income earner or spender? It does not have a solid financial foundation.
In general, lying more than you think. Someone squandered and tried to cover up the facts because they knew that their spouse might not agree. In fact, these lies will continue to the financial advisor. Shamefully covering up debts and even denying debts will not help anyone get out of debt. The debtor needs to agree with the amount payable to the creditor or the safe paying lender to develop a plan to correct or prevent the loss.
You might want the image to represent a "naked bone" state, but if you buy new clothes or go out to eat, that's far from it. Nothing means nothing. If you have a spouse who uses and hides, how long will the other party find out? If your financial adviser does not have the most accurate data, what plans can you make for you? If you are suffering from any kind of addiction, you must address the root cause of the problem before you can focus on the financial side. Most commonly, addiction is associated with deeper emotional distress. Taking a credit card is not a cure.
People will find ways to make money to become addicted. Online salary advance loans and pawn shops are just two examples of easy-to-use cash. How do you explain financial expenses or the cost of living supplies? You can hide items from financial advisors, but not as easy as your spouse.
Managing income at a cost of living is a priority within a reasonable budget. Your consultant can create an "other" category for you to decide. This amount will depend on your ability to pay for living expenses and reduce the debt burden. If your spending budget is smaller than you want, you need to clear your debt to free up more debt. When there is no income flowing to bad debts, you will be amazed at how many other categories you can have. The interest on your mortgage, student loan or even car payments will not be considered bad because these costs help to live. The credit card or other creditor’s debt is bad. The more you default on your debt, the more you will waste your interest on interest. Now is the time to face the reality of financial decision-making.
Sit with your spouse and put all your cards on the table, even if your spouse can't help you manage your books. Where is your money going? View bank statements and debt statements. Think about what cost is necessary and figure out why the debt is so high. If credit card debt is high due to medical expenses, you may need to seek advice on how to limit the problem. Instead of using a credit card to pay for your doctor's fees, you may want to contact the billing office and make a payment plan directly through them. Not only can you save at a lower interest rate, but the debt will not be treated as a negative debt by the credit bureau. Credit usage is calculated based on credit card debt rather than the debt of a medical institution. Whatever you do, be sure to keep up with the plans created by the billing office, just like all other bills.
The financial advisor's plan will be better when both parties are on the same page. You can help each other reduce expenses as planned, get rid of debt and prepare for future emergencies.