Budgeting Shit

Discussion in 'Free Range' started by Vespidae, Jul 9, 2015.

  1. JillofallTrades

    JillofallTrades Chicken

    This break-up and subsequent move/furnishing/stress purchases/much needed trip out of state have really taken a toll on my credit cards. Life happens and sometimes it just takes time to recover. Don't beat yourself up!
     
    virgo, Kimmers and Canaligator like this.
  2. virgo

    virgo Chicken

    Thanks guys! I have a couple options with balance transfers so this weekend I'm going to sit down and figure out which option is best.
     
    user217, shiba shake, CJ and 4 others like this.
  3. Honey

    Honey Historian Staff Member

    I'm living proof that you can have a decent chunk of consumer debt and still buy a house. Also living proof that stress purchases will happen during that process too.
     
    virgo, DaleBrennan and Kimmers like this.
  4. virgo

    virgo Chicken

    This gives me hope. Not for buying in the bay area but hope for buying when we move.
     
  5. Honey

    Honey Historian Staff Member

    @virgo Our credit scores weren’t excellent, but they were good enough to get a traditional home loan. We went FHA because, as you know, it can be difficult to save up a huge down payment while you’re trying to pay down debt too. Putting only 3.5% down made it possible, and our mortgage payment is pretty much identical to what the rent was.
     
  6. hallokween

    hallokween Chicken

    Yes, we have (what I would call) a considerable amount of debt, as well as oknotgreat credit, and we were able to get an FHA loan and our mortgage payments are a bit below rental prices.
     
    virgo, DaleBrennan and Kimmers like this.
  7. user63

    user63 Chicken

    This seriously gives me hope. We have debt, but not astronomically bad (probably ~$15k by the time I finish grad school). My credit is decent. J has almost no credit. He's had one credit card his whole life and pays it off full each month, and that's it. He needs to work on that. Or can my credit history carry us? I have a few credit cards, medical bills, and student loans to my name that gives me better credit. I don't know what his actual credit score is, but I know he looks riskier because of his lack of history with credit.

    eta: I almost went through a private loan for grad school before I learned I was qualified for Stafford loans. I was putting J on as cosigner to get a lower interest rate, but he wasn't approved because of his lack of credit. I would have been approved with no co-signer though.
     
  8. hallokween

    hallokween Chicken

    Girl, get him on Credit Karma! Check and see!
     
    virgo and DaleBrennan like this.
  9. Canaligator

    Canaligator Barbie Police

    Has he checked his score? It might be better than you think. Also, if you have credit cards that you've had for a long time that are in good standing, consider adding him as an authorized user. I did that with one of my cards so W would get airline privileges and his credit score jumped up because of it.
     
    virgo, A. Ham, user4058 and 2 others like this.
  10. user63

    user63 Chicken

    Good call. I'll do that, about adding him. I dont think his score is bad- there's nothing to bring him down. But I know his lack of credit doesn't help him. He might know his score, idk. I just don't lol
     
  11. MagnificentCat

    MagnificentCat Chicken

    I only have one credit card and my credit is strong. Another thing that would help is some of the utility accounts being in his name.
     
    Canaligator likes this.
  12. user63

    user63 Chicken

    We only have an electric/gas bill (same account)- landlord pays water. I'll have to check if I can add him to the account. It used to be in his name before we moved, but then I never had anything with my name on it for proof of address so we did me this time.
     
  13. MagnificentCat

    MagnificentCat Chicken

    Internet, phone, maybe even Netflix... any long-standing account that shows him as responsible customer.
     
  14. Honey

    Honey Historian Staff Member

    That’ll give you a vague idea, but Credit Karma lists both my and D’s scores at a good 80+ points lower than reality. We were pleasantly surprised when our bank gave us our actual scores from all three agencies at the beginning of the loan process. Unfortunately, CK can be off in the other direction too.
     
  15. HBC

    HBC Chicken

    Rooster has none of his own credit except past student loans. He’s a user on one of my cards, though. We didn’t have a problem.
     
    user63 likes this.
  16. hallokween

    hallokween Chicken

    Oh, that's disappointing. I wonder what mine really is.
     
  17. Honey

    Honey Historian Staff Member

    One of your financial institutions may be able to give you at least one of them for free. A couple of mine give me the option to check my Experian score whenever I log in.
     
    MagnificentCat and hallokween like this.
  18. HBC

    HBC Chicken

    My credit card puts my FICO on every statement
     
    user217 and user63 like this.
  19. Chevere

    Chevere Chicken

    The issue with a lot of free credit score sites is they give you a vantage score (which tend to be inflated) or a different number FICO number (7vs8). My TransUnion FICO 7 is higher than my Experian fico score I get through the discover app (which you don't have to have a discover acct to use) by over 40 points because experian has a student loan on it that TransUnion doesn't that was "late" a few times when it should have been deferred
     
    Erie likes this.
  20. I’m currently paying off a bit of credit card debt with the ex. Hopefully we’ll be done in a year or so. He changed jobs while we were still together without consulting me and took a huge pay cut. That really hurt us because he wasn’t making enough to cover basic expenses and I had to pay bills with credit cards.
     
  21. I guess that’s par for the course though. He’s about to sign a rent-to-own agreement with his boss on a house that’s way too big for him and A (5 bedrooms and a separate apartment) just to prove that he’s better off without me.
     
  22. Fitz

    Fitz Leslie Knope Monster

    Not sure this proves what he wants it to prove, except that YOU are better off without HIM (as I'm certain you already know!)
     
    scotchbutter, virgo, CJ and 3 others like this.
  23. @Fitz He wants me to be jealous. When the split was imminent, he wanted me to move into that house as though a big house would solve our problems. It’s an older house in a regular middle class neighborhood that has had a second story added on as well as an apartment. It has no yard and no flow. It’s just a mishmash of house that won’t sell because it’s overbuilt for the neighborhood and tacky as heck. Guess I’m missing out.
     
  24. virgo

    virgo Chicken

    I use Credit Karma but Discover gives me my FICO score. I feel like there’s another card that does that too. Ryan had terrible credit when we first started dating. I helped him clean it up and, once we were serious, added him to a few of my cards to help bump up his score. 10 years later and our scores are almost identical so yay for that.
     
  25. user63

    user63 Chicken

    I can get my credit score from my discover card and my Amazon prime Visa card.