Day to day money decisions - what would you do?

[kgtest]

I understand people who make the "I don't care about net worth" comments, and I'm sure in the heat of the moment my wife has said something similar.


To me that would imply she does not care about the long term financial security and the options that financial security can provide. Usually my wife just want's to stay out of the long term planning all together, which is really quite difficult because it takes a lot of little short term maneuvers to get to that long term goal.


Would it help if she cashed the rent checks? Or if you humbly reminded her when you were on this year's family vacation by doing something special?


DW loves to do the bill paying and is absolutely compulsive about paying the bills, vs I am very compulsive about adjusting up savings rates when appropriate. This is tough because it creates a tug of war that I almost always initially end up in the mud on, but eventually we even keel and DW see's the benefits of all the short term planning...some time later.


If she does not pay bills, does not contribute to the household income and does not care about net worth, essentially a non-participant in finances, I know those folks exist as well. Just not the type for me but I guarantee plenty of folks are like this.





DW has painted soo many vacant units for me, god bless her. But I am willing to bet now that we have kids she wouldn't bother to offer.



My DW is still willing to purchase rental properties, even if the net worth takes a hit in the short term. But only if it was a deal, BUY LOW!

[Oakster]

I have not read all of the replies, but I definitely think you should pay off the contractor for his work. Not sure on what your deal is with him, but in my mind, its not fair that he has not been paid in full for the work he has done and I would make that my own personal goal, paying him off as soon as possible. I like to treat others fairly and as I would want to be treated. I would be very irritated if I helped you remodel a property and then began going on vacations etc while I was still unpaid. It was very generous of him to help you without you refinancing etc, but I would not take any more advantage of it than necessary.

[Oakster]

Quote:

Originally Posted by brucethebroker 30 year landlord/real estate investor here. Rehab and rental properties are tricky (and stressful) and both of you need to be on the same page-my DW is and we still have had our issues here and there. She may not like the leverage angle, or the always scraping by until the next thing. You two need to have a long talk about your future plans involving the rentals. If you cannot reach a compromise, my advice is to find another way to build wealth that you can agree on.

There is some good wisdom here!

[dd564]

Quote:

Originally Posted by Oakster I have not read all of the replies, but I definitely think you should pay off the contractor for his work. Not sure on what your deal is with him, but in my mind, its not fair that he has not been paid in full for the work he has done and I would make that my own personal goal, paying him off as soon as possible. I like to treat others fairly and as I would want to be treated. I would be very irritated if I helped you remodel a property and then began going on vacations etc while I was still unpaid. It was very generous of him to help you without you refinancing etc, but I would not take any more advantage of it than necessary.

Hi,

He had no issue with our pay agreement and I have a very strong history of being a prompt payer with him, so the couple month delay was not an issue for him. (We agreed on a payment plan which I paid off sooner than planned) and as of the day after I started this thread, he's been paid in full.

[Timeisprecious]

Quote:

Originally Posted by cathy63 It depends on your agreement with the contractor. If he's being a nice guy and letting you stretch out payments past the time that you had initially agreed to, then you should pay him off as quickly as you can. There's just something unseemly about spending on luxury items when someone else is stretching their own finances to accommodate you. However, if you had this delay written into the payment schedule at the start of the contract, then I think it's fine to stick to that schedule. For the HELOC, you can be a little less aggressive if it makes your marriage happier. Find a balance that lets you enjoy life now while still saving for the future.

+1