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What The ---??

April 24th, 2015 at 09:12 am

I was tidying up this morning when I noticed that dh had opened his bank statement and left it lying out. I had a look at it and nearly fell over when I realised he's paying almost four hundred pounds each month to his two catalogues, in total. I freaked out when I knew he was paying three hundred, so this is probably why he never mentioned it. That money would be better off in our pocket than in theirs! It's bad enough I'm paying off a catalogue too. I hate debt.

Dh mentioned the tv yesterday, I told him we're saving up for it. After this, we are definetly doing that.

Posted in Uncategorized | 12 Comments »

12 Responses to “What The ---??”

  1. VS_ozgirl Says:
    April 24th, 2015 at 01:06 pm 1429877165
    1429877165

    Good to hear that you're saving up for it now... I'd never even heard of a catalogue until you started mentioning it, and from what I've read they are only a step below payday loans! Here we have payday loans and they are an awful scary thing. They said with catalogues by the time you finish paying off the item you could have bought two to three of them, and let's face it, the less money you have it becomes so much more important to stretch every dollar as far as you can. And £400 is a lot of money to pay off each month, that's more than a car payment.. I think I'd be reconsidering as to whether a new TV should even be bought.... Sorry to hear about this Frown

  2. laura/deacon's wife Says:
    April 24th, 2015 at 01:37 pm 1429879053
    1429879053


    I'm sorry! That must have been a nasty shock! Good plan on paying cash for the TV.

  3. CB in the City Says:
    April 24th, 2015 at 01:44 pm 1429879487
    1429879487

    I never knew what catalogues were either -- must be a European thing? But it sounds like something to avoid! Is there any way to get that temptation away from DH?

  4. My English Castle Says:
    April 24th, 2015 at 01:57 pm 1429880247
    1429880247

    Wishing you the best getting out from under those. It's such a big feeling of relief when you do!

  5. Joan.of.the.Arch Says:
    April 24th, 2015 at 04:10 pm 1429888233
    1429888233

    Is this one of those purchase plans where you get the item immediately and make set payments on it for many months so that you end up paying a lot more than the initial value of the item?

    If so, CB in the City might consider the Fingerhut catalog here in the US. It is also how those rent-to-own shops work. At rent to own, you might make $50 payments on a $600 washer, but make payments for

  6. Joan.of.the.Arch Says:
    April 24th, 2015 at 04:12 pm 1429888347
    1429888347

    ...but make payments for 30 months so that you end up paying $1500 for it.

  7. ceejay74 Says:
    April 24th, 2015 at 05:00 pm 1429891201
    1429891201

    Do you think he'd let you just take over the finances completely? I finally told my partners that was the only way I'd be able to save us, and they let me. I had to make them understand that we'd never get out of the hole any other way, and thank goodness they listened. That was 8 years ago and I'm still mostly in charge. They didn't always like it, but they credit my iron-fisted management with us being able to afford our new home.

  8. snafu Says:
    April 24th, 2015 at 06:20 pm 1429896035
    1429896035

    Is your 'catalogue' debt listed as CC on the sidebar? It's important to know what interest rate you are paying. If these 'catalogue' loans work like Payday Loans, it's important to take serious action to end losing so much of your earnings to interest/fees/or whatever terminology used to add to the initial sum[s] borrowed. You know that savings collect less than 1% but the interest rates can be higher than 26% at Payday loan sharking operations.

    I suggest you and DH work as a team so you both know what's owed. You'd show DH actual figures, what sum you've borrowed, how much you've already paid and how much is still owed if he'll give you his figures so you can work out how much he is paying over and above the sum borrowed. I worry he used borrowed money to repay his mom for his games.

  9. creditcardfree Says:
    April 24th, 2015 at 07:51 pm 1429901487
    1429901487

    Ugh. I'm so sorry! You do both need to be on the same page and work your finances together if possible...which I'm sure you know. Definitely save up for that tv purchase, and consider used if you can find a deal for one.

  10. Amber Says:
    April 25th, 2015 at 12:43 am 1429919018
    1429919018

    Aw I'm sorry

  11. FrugalTexan75 Says:
    April 25th, 2015 at 01:49 am 1429922952
    1429922952

    That is tough. I hope that you two can come to a good resolution about the tv and the catalougue debt.

  12. DecisiveParadox Says:
    April 26th, 2015 at 03:41 am 1430016103
    1430016103

    Oh wow that is brutal shock.
    I hope he isn't buying stuff up that's ramping up the payments.
    You have been powering along so well I hope this doesn't trip you guys up.

    What is a catalogue?

    Its not your man who wants to finance a big ass TV. its a guy thing. But you are right about saving cash, ESPECIALLY because you guys are so focused on getting out from under debt. tell him a lesson I learned long ago was life is easier when you obey/listen to your wife.

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