Thursday, November 13, 2008

A Little Off Topic

How do you handle finances? Separate but equal or pool them all together? That's the subject of this feature article in today's New York Post. Pick up a copy and turn to page 67 & 68 or check it out here. My quotes aren't long but they used my mugshot.
Which leads me to today's topic:
When you get married at 17, you're not really equipped with the tools needed to run a household or a marriage. As a result, I just followed the example set by my parents instead of doing what was right for me and my then husband. In the case of finances, that meant pooling our income. He was nearly six years older than me and in the Navy, so he was "in charge" by default. This did not bode well for our bottom line. We struggled financially for the entirety of our six year marriage despite the fact that we both made a decent income especially considering our inexperience and lack of higher education.

When we divorced, I made new vows; this time to myself:

-- I would never change my name again (Kambri Crews is who I am and I quite like the sound of it), and
-- I would do my darndest to not ever carry debt.

Of course, I wish I didn't have to learn the hard way, especially as a newly single, young woman, but learn I did. I scraped by for years paying off credit cards and rebuilding my horrifying credit score. I lived with friends or had roommates to save on rent and utilities, I paid extra toward principal on loans instead of going out, and I rolled loose change and deposited it into a savings account. Since 1998, when I finally paid off my student loans, I have not carried a balance on anything other than a car. And now I don't even own a car since I'm in NYC.

My current husband (heh, that sounds funny, like he's just the one I have for right now) and I are looking to buy a home. The idea of owing money, even if it is for a wise investment, terrifies me. Will my husband and I have money troubles when we are home owners? Maybe. But I am older and wiser now and maintain individual savings and credit accounts and all as Kambri Crews.


mishkazena said...

A very nice-looking mugshot ;)

Possessing good fianancial skills can be difficult if one didn't have good role models. I am sorry you got burned the first time. Many women I know have their own accounts as well as joint accounts.

My philosophy: whatever works the best and feels the most comfortable for the couple. Every couple have different views.

Kelly said...

Woo! Nice pix of you! ;)

As for me and my husband. We found that having joint and seprate accounts works for us the best. I have my own blow money as well does he.

Deaf Pixie said...

Very worth to have seprate checking account.

After I blew up the account was lost 300 dollars by someone stolen my checking and they dyed the my checking route has changed. I went to bank and paid for inevestiage and discovered someone changed my name in my checking address, etc.

That's how I caught so The Qwest paid me back. I never had own of qwest.After I accidently recycle in .. someone at Recycle company found my check. I was screwed up first place! How was I dumb?