wedding planner
about us
site map

BRO Features
Feature Story
Featured Events
Picture of the Month
Great Ideas
Wedding Topics
Latest Trends
Your First Home
Cooking for Couples
Romance & Money
Fit & Beautiful
Relationship Guide
Love Stories
Ask the Experts
Fun Stuff

The Green Corner
 Organic and  Sustainable Weddings

Destination Weddings

BRO Store
Favors & More



Laura Hunt

Romance & Money

Are Your Current Spending Profiles Destroying Future Financial Goals?

Combating Debt

 T. J. in Portland, Minnesota:
"My boyfriend and I have lived together for three years and are getting married in February. My parents have planned and paid for a beautiful wedding.
In the last six months or so we have been fighting about our bills. We have over $12,000.00 in credit card debt and two new cars for which we have monthly payments. And I have to admit I like to shop.
We can’t seem to agree on how best to combat the debt, and every time we sit down to try, it becomes a fight that spirals into mud slinging about all the past mistakes either of us has made, from money to old spouses. Help!"

Well, first, congratulations on your upcoming wedding.

I am not a therapist. You may want to refer to our "Relationship Guide" column by our expert, Claire Hatch.   Consider some common-sense guidelines when they sit down to talk:
  1. Listen to each other without interrupting and without trying to defend your position.

  2.  Stay focused on the subject at hand without bringing up old hurts.

  3. Understand the other's point of view and be willing to incorporate that person's perspective into a solution.

As for ‘combating’ the debt: you should get all your bills together and make a list of which of your credit cards have the highest rates. List them in descending order from highest to lowest interest rates: 14.75%, 11.98%, 8.0%.

“The secret of getting ahead is getting started. The secret of getting started is breaking your complex overwhelming tasks into small manageable tasks, and then starting on the first one.”    Mark Twain

Then, keeping yourselves clearly focused on the task at hand, start paying down the highest rate cards first. Continue your minimum monthly payments on all the others, of course, but pay extra each month on the card with the highest rate. Then move to the next highest rate card once you’ve finished paying off the first one.

In regard to the subtle way you slipped in, “I like to shop,” that little issue could be one of the biggest holes in your sinking financial ship.

CLOSE any retail credit cards you may have. If going to the mall is too much temptation, then don’t go. Or at least go empty- pursed.
If you break down and buy something, write down how that made you feel; Was it exciting? Did it make you feel powerful? Whatever.

Then write down how long that feeling lasted: one hour, two days, or an entire week.

Then write down what you could have done with that money:
$200.00 jacket. Could you have applied that money to a larger payment on the debt that has you feeling imprisoned? Could you have bought groceries, or paid a utility bill? Put money aside for the kids' college fund?

Just think about it. If you find you are consistently choosing frivolous items to buy over longer-term investments, you may want to get some counseling for your shopping. Compulsive shopping generally signifies deeper issues

Additional Information on this Topic

Read Earlier Articles
Editorial Calendar & Monthly Budget Worksheet
Important Financial Help Websites and Phone Numbers


© 1995 - 2012