529 Plan and College Savings

Archive for November, 2006

Question: What’s a workable plan to split finances?

He brings home $1500 every two weeks. I bring home $1100. Here are our bills:

Mortgage every two weeks @ $513
Car Payment $360
Insurance $127
Electricity $90
Energy/Gas $100
Daycare @ $308 biweekly
(2) credit card bills for me
(1) credit card bill for him
Cable $120
Cell phone $100
529 Plan $100

Then theres groceries, gas, and misc.

Please help. I am considering dicussing with him about splitting finances but with the bills, how do we do this? Thank you.

Answer: Your a good example of why 18 yr olds can’t move out and live on their own. LOL.

You both are living in a place with too high of rent. See if you can move to a cheaper place. Pay off your credit cards they will rob you monthly of much needed cash.. If you can’t pay cash don’t buy it. Get off the credit merry-go-round.

Sit down with him use this list and go over the cost of everything monthly and then total your income – draw a line down a piece of paper one side debt the other side credit.

I know it’s tough. Discuss this with him so he sees this on paper. Also under the misc. you will have emergencies like medical ie: colds or doc. visits or an appliance breaks down or the car breaks down. Unexpected things are always a killer.

Good luck.

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