First Person: My Husband Is a Financial Liability

Yahoo Contributor Network

Being financially compatible is something that many couples don't consider before they get married. I didn't give much thought to the financial aspect of our relationship when I agreed to marry my husband. We lived paycheck to paycheck, why should I expect more? As time goes on, I realize that my husband is one of my biggest financial liabilities. These are the reasons I believe he may be the biggest liability, and why this affects us as a couple, not just him as an individual.

His spending habits

While I now have his spending under control, it was a rough time getting it there. My husband is impulsive and will buy something he thinks we "may" need in the future if the price appeals to him. He would have spent hundreds of dollars a day if he had access to it. He once came home with all different size batteries. It wouldn't have been a problem if we needed them, but we didn't. Two years later 70% of them are still sitting in a drawer. We now have a system that allows him $20 at a time, with the exception of gas days. When he is broke, there is a re-evaluation on how fast and where the money went.

His credit score

When it comes down to buying anything or getting a loan, both of our credit scores are looked at. We come from very different financial pasts, and my score is nearly double what his is today. This poses a problem for us as a couple, especially with getting a mortgage. I have to do what I can to protect my score and work on his. This is an incredible liability for our family. Getting a mortgage on my own may be our only option.

Lack of motivation

My husband has the potential to earn more money in his field, but his lack of motivation is keeping him from going after it. Of course, it takes money to make money in this world. There are certifications he needs to pass in order to get a raise, and he has yet to take them. Spending the $240 to take the tests would be worth it, especially because it would be up to a $3 an hour raise. It would pay for itself in just two short weeks. With his desire to do better, our financial situation will stay stagnant.

In the last year I have worked hard to get our financial situation under control. While things are better now than they were 18 months ago, there is still room for improvement. My husband is the biggest financial liability we have, and until that changes, we can't move forward effectively.

*Note: This was written by a Yahoo! contributor. Do you have a personal finance story that you'd like to share? Sign up with the Yahoo! Contributor Network to start publishing your own finance articles.

More from this contributor

First Person: Quitting Smoking Will Save Me $1900 This Year

First Person: We Are Not Upgrading Our Vehicle

First Person: Preparing Our Home for Winter Cost Us $140

View Comments