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Spending too much
My husband spends money almost non-stop, and we're going broke. I've tried several ways to stop him from spending like he does, but it's almost like it's an addiction for him. How can I get him to spend less money? I've shown him our budget and explain many times how important it is that we stick with it. Still, he's run our bank account into the negative twice in just a few months.
The best idea I've had is something like a pre-paid credit card. I'm not sure what I mean. For example, I put $100 on it, and he can spend and spend, but never go over his limit. Is there something like that? I'm open to any other ideas as well. Thanks!
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You can get a prepaid credit card. You can find some to compare at the link below. Just be aware that some charge fees so it may cost more than you originally expected.
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Like younggrandma said, if you have any regular credit cards, I'd take them. You may need to get the bank card and checking book as well if he has access to them.
I myself ran into something similar to this with my husband. Before we married, he was great with saving, but once we got married, he went a little crazy. I finally put him on a budget. I keep the checkbook and the bankcard. He gets $100 cash a week for gas, eats, and things he needs to buy for work. He brings me receipts for everything. Any money left over at the end of the week he gets to keep. The rest of the money goes into the bank for bills and savings.
You may also want to talk to him about getting help for his spending habits. Sometimes people get in over their head and don't realize the effect their spending is having. I'm including a link to Debtors Anonymous. There's information on overspending and how to get help on the website.
[Link](Mouse over link to see full location)
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Give him a debit card.
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Yes you can get prepaid credit cards. They work a lot like the prepaid phone cards.
If you have any of the regular credit cards, i would advise you get rid of them all together before a BIG mess drags you down.
I would not let him have any checks at all. Give him a cash allowance and when its gone he is done.
Thuggirls idea is a very good one too. :)
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This is what i`d do.. I`d open him a checking acount and put so much money he`s allowed to spend in there.. Might sound like you have to treat him like a child but he has to learn some how.. You can get a card for this or just give him checks.. Then have a seperate checking acount for like bills and what ever else you need money for.. ♥ Dez
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