Advice from Nashville's Financial Guru Dave Ramsey
Dave Says
By Dave Ramsey
Author of Financial Peace and The Total Money Makeover
8/31/2004
Husband paying company's finance charges?
Dear Dave,
My husband is in sales and he has to charge everything that he does for work
on his credit card and then the company reimburses him. My problem is that
we pay the finance charges each month because all of the expense
reimbursement money doesn't come in. My second problem is that my husband is
a wonderful husband, but he struggles with finances. I've taken over doing
our personal bills, but he procrastinates in turning in his expense reports.
We used to do pretty well with finances. When we first married and he had
debt, we paid it all off. We eventually got a house and we can make our
payments, but we're back in the boat of being in debt.
Faye
Nashville, Tenn.
Dear Faye,
So he's running up credit card debt and not getting his expense reports
turned in to get the reimbursements.
I would do two things. One is the two of you need to sit down and come to an
agreement. You need to tell him what you've told me. I don't think you've
told him exactly what you've said here, as bluntly and honestly as you've
told me. "Honey, I think you're a good man, but you're lousy with finances."
You're playing footsy with him instead of telling him how this makes you
feel. He's out running up credit cards and you're worried.
He doesn't know the effect this is having on you and you need to tell him.
He's not a bad guy at all. He's just not a nerd - a numbers guy. He's a
salesman. If he were to get a job in accounting it would destroy him. So you
need to convince him to work with you and put these expense reports
together. You both need to work on these budgeting issues together and he
needs to be responsible because it's messing with your respect for him.
The second thing is he needs to go to his boss and see if they won't give
him a credit card drawn on the company. Basically this company is borrowing
money from you guys. Surely they're not that poor. I know that's a standard
practice in corporate expense, but it's also very stupid that this huge
corporation should have to use your money. If they won't give him a company
credit card, then I'd suggest he get a debit card and only use cash he has
on hand. That will prompt him to get the expense reports done. I would not
use a personal credit card for expenses because if that company goes broke
and he doesn't get reimbursed, he's baked!
Dave
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