I’m about to inherit about £62k from my Aunt. My plan was to pay off the mortgage of £22k and invest the rest. My DH has made a few jokes about how I could give him some. We do have separate finances because we met later in life, and I had a house and he didn’t.
I had an inheritance a few years ago and paid off his car loan and also paid off our wedding debt of £10k. I also had paid for our honeymoon.
The thing is, he’s one of life’s spenders whereas I’m a saver. It means he rarely has savings, but I do. He has 3 cars worth about £35k total.
When we met he had about £18k on credit cards that he was defaulting on, and I helped him to get an IVA to get out of the mess he was in.
He now has about £4K on a loan and £4K on his credit card. So basically £8k in debt and I’m going to have £80k in savings after I pay off the mortgage. I feel if I gave him money he would just spend it on rubbish.
He will be getting circa £65k lump sum next year from his Pension and when his mom passes he will get around £800k, albeit that could be 20 years from now.
WWYD. I feel bad having £80k savings when he has £8k debt. But similarly I don’t want to be giving chunks of money away. This inheritance will be my last btw.