Financial Wizard? Not Really.
Friday, November 16th, 2007I have a story that really illustrates my husband’s understanding of budgets and finances. (I should add beforehand that he is very good at saving money. He is not a big spender type. So, those are the good points. Now to the others.)
My husband’s mother has this ongoing battle over property that belonged to her ancestors (and hence, the ancestors of my children). She wants her grandsons (i.e, my children) to have this property. For many reasons too long and boring to explain, this means my husband and I would need to buy this property to keep it in the family–not all that interesting for me. However, it would keep mom-in-law very busy in her native country, far away from me, and anything I can do to make this happen is worth it. Even paying $30,000, which is the cost of this property.
So, we were going over the finances last night to see taking this type of loan is possible. We have one source of debt–a big student loan of about $25,000 which we got 2 years ago, and are quickly paying off…and therefore making huge payments and would like to continue doing so. I am not sure if we can do that plus buy the property.
I was saying, “Well, I think we’ll be okay. We only have your student loan now…”
His response: “Really? We haven’t paid that off yet?”
See what I’m saying?
