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Fucked up massively

142 replies

Notaschoolgatemum · 29/01/2023 15:24

To be clear, this is entirely my fault and somewhat of a FWP but I am panicking nevertheless at my own stupidity.

DP and I have a shared Credit/Charge card which we run all household expenses on to earn air-miles for holidays. DP is a high earner and although i used to be a high earner, I run our small business taking a minimum salary so that I can spend time with our teenage child before they leave for Uni and I’ve nursed my elderly father prior to his death last year. I may go back into the industry I was in before after they leave for uni but at the moment I rely entirely on DP for money. So not to drip feed, We have been together 20yrs. DP is fair in some respects and splits all available monthly income so we have equal spending money per month. However I’ve become aware he has received substantial bonuses and managed to save a substantial sum of money. He decides when we are going out etc. I have no access to this as it is all in his name. We support DSD’s at Uni as well as our DC. He is very generous with gifts but has no idea how much stuff costs when say he invites friends to stay for the weekend. I was deprived of money growing up and I am hyper aware of being poor so I often cover up when I am short to avoid embarrassment and the shame I felt when I was a child which is silly I know. To date, I have been very proud and not asked him for money so when stuff adds up beyond our household monthly budget I’ve gone without and covered the extra from my ‘allowance’. But I’m also ‘expected’ to show up as a ‘groomed’ for events which obviously costs money. I’ve also got into a situation where I’m in arrears rather than having the money to pay in the current month. Also my own fault. Last year, said card company lost a payment of ours totally several hundred £. They were entirely shit at finding the money with any sense of urgency hiding behind their service level agreements. Since then, their system has credited and debited the same amount at random points but often split across billing cycles so debited in one billing cycle then crediting in the next but as the interest penalty for not covering the entire bill in full is massive I’ve covered the extra. However back in August after a holiday I miscalculated the bill and didn’t realise the cc. had credited the amount lost twice in the same month so I thought I had more to spend. And I spent it on family stuff - DC was starting a new school so it went on new uniform etc. As I previously had the money this was not an issue but before Xmas the cc Co debited back the money and I thought it was a mistake so I didn’t pay it believing I didn’t owe it. But I do, plus the interest. So now I need to pay back the money plus the interest. I am worried sick. I don’t have the money and my low salary on paper means I have no access to credit. My bank has yesterday refused me a loan for the amount. I floated the idea yesterday about the situation but DP has shut down the conversation about it saying ‘we can’t possibly owe them anything’ . He’s right of course. He doesn’t but I do. And I don’t know how I’m going to pay it without incurring further interest on the entire monthly bill. I’ve spent the morning digging out stuff to eBay but it isn’t enough and won’t be in my account by Tuesday when I need to pay it. I’m considering pawning some jewellery I don’t wear every day but I doubt it’ll raise enough. I’ve also never been to a pawn shop.

I don’t know why I’m posting really except to get it off my chest. I deserve no sympathy there are other people with far worse issues than me. But I guess this is my world at the moment and I can’t escape it. I know they’ll probably be LTB comments but this really isn’t his fault. I need to put my big girl pants on and explain how much stuff costs moving I guess. I can’t just go and get a job instantly without raising suspicion.

OP posts:
Theeaglesoared · 29/01/2023 15:29

Hi OP, I'm sorry you've got all this stress going on. However I'm at a loss as to why on Earth you aren't able to talk to your DH about this? As in, from the start?

Why all the secrecy? There must be something else going on or it doesn't make sense. To me, anyway.

UmmmBopDeeDooWhop · 29/01/2023 15:30

I don’t have the money and my low salary on paper means I have no access to credit. My bank has yesterday refused me a loan for the amount. I floated the idea yesterday about the situation but DP has shut down the conversation about it saying ‘we can’t possibly owe them anything’ . He’s right of course. He doesn’t but I do

This is the important bit here.

You do owe them money and you need to make that 100% clear to him.

Say 'I need five thousand pounds (or whatever it is) because I have no money to pay the credit card'

The CC sound completely incompetent. You need to close the account!

Then you need to do something about the rest of this situation as you can't go on like this.

WishingMyLifeAway · 29/01/2023 15:37

Agree with PP but also...

"but DP has shut down the conversation about it saying ‘we can’t possibly owe them anything’ . He’s right of course. He doesn’t but I do."

Well presumably (as you've said you can't get credit in your own name) this is a credit card in his name and you are the authorised user?

In which case he (and you) are wrong and he owes it.

You both need to start talking more about finances and sharing information. Was the decision for you to not work as much at the moment a joint one? If so, all you money should be shared. It's not OK for him to be hoarding personal savings while you are scrabbling around and panicking to repay debt.

I would also agree that you should close the credit card and maybe just look at using a debit card for normal spending.

A credit card can be great for earning points and cash back etc but only if you are able to manage it effectively. And it sounds like this isn't the case here and you are getting into difficulty with that aspect. You need to simplify things so you can't run up debt accidentally in future.

ItWasntMyFault · 29/01/2023 15:46

You need to explain to your dh what has happened and get it sorted today. The longer it drags on the more interest you'll pay.
He might be slightly annoyed but that's much better than not saying anything and letting the debt get a lot worse.

AlisonDonut · 29/01/2023 15:47

I couldn't follow what actually happened but you need to sit him down and work out what you both owe and just pay it.

Sublimeursula · 29/01/2023 15:52

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Sublimeursula · 29/01/2023 15:53

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Twinklenoseblows · 29/01/2023 15:53

Can you not see how ridiculous the situation is? Your DP is sitting on tonnes of money whilst you worry yourself sick about money. Presumably you're bearing the brunt of running the home and caring for your child. You need to sit down with him, come clean, pay the card off and work out a better plan together going forwards.

Lottsbiffandsmudge · 29/01/2023 15:54

I'm sorry let me get this straight. You accidentally spent the money on school uniform? That is a 'joint expense' surely. Is your DH expecting you to fund your DC clothes from your 'allowance' surely any left-over money (and btw how big of him to split it 50/50 but then expect you to fund guests etc) should be after all such expenses not before.
My god. My DH is a high earner. I was a SAHP for 13 years. All our money is joint.
When you earnt did you pay for all DC stuff????
He is controlling abs you need to sit him down and say thi gs cannot go on like this. It's ridiculous if he has savings for you to be thinking of a pawn shop.

GrazingSheep · 29/01/2023 15:56

Surely he sees the credit card bill?

NerrSnerr · 29/01/2023 16:05

I agree with PP, you need to tell him the truth instead of letting it get worse. How much debt are you in?

Then you need to have an open conversation about expenses, what things cost and how to share the finances fairly.

Gazelda · 29/01/2023 16:05

Get the DC watching tv in their room. Make both of you a cuppa and tell him

  • he needs to sit with you and listen because you're both in a temporary financial pickle and your pride has stopped you confiding in him before now.
  • You owe the credit card. There was a cock up and you thought there was more cash so bought the uniform. Now you realise the mistake, you need his help settling the account,
  • At the same time, your financial set up isn't working. You are short every month and he is flush. You don't want an allowance, you want full access to family money without having to ask.

Don't get emotional. Don't let him settle the card and then go back to how things were. Don't forget you're an equal partner in the relationship. Don't be grateful for £, it's a share of what you as a couple have earned.

Notaschoolgatemum · 29/01/2023 16:30

Thank you to all of you who have replied. Sorry if it seemed rambling. My head is spinning. I’ve got 48 hrs to sort this. I don’t know that I’ve got strength to talk to him about this. I don’t need a row in front of DC. It will inevitably end up in a row. He is not reasonable about ‘his’ money. I think he thinks he’s doing the right thing by not allowing me to ‘overspend’ by restricting my access to money and do creating savings. Yet he can spend what he likes. I know this is ridiculous. I have no power to change this.

To answer the questions:

it is my CC. He is an additional card holder. It is me who is liable. He can’t see the total bill.

I know I need equal access to the family money. He shuts me down when I ask for access or makes out I’m being unreasonable. He won’t entertain joint accounts even though it makes financial sense.I’ve tried.

Yes the minimum salary is for tax purposes.

I’ve got an old endowment worth about £20k maturing in May so I’m trying to work out a way of getting credit for 3 or so months and then I’ll pay it back out of this. Hence the pawn shop question.

I can’t believe I’m in this situation. On the surface I’m highly educated, successful and intelligent. In reality, I’m not.

I feel utterly shit. I’ve still not processed my Dad dying and now I have this. But it is my overspend. I could’ve said no to DD’s parties/ excursions concert tickets etc. I just want them to have what I did not.

i don’t think I’ve got much choice but to go back to work really. In the meantime, any ideas for temp credit gratefully received.

OP posts:
Sublimeursula · 29/01/2023 16:32

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Sublimeursula · 29/01/2023 16:33

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RandomMess · 29/01/2023 16:34

Can you ask him for a loan?

Twinklenoseblows · 29/01/2023 16:34

To be honest OP he sounds abusive. Are you aware that abuse can include restricting someone's access to money?

Madamecastafiore · 29/01/2023 16:37

Financial abuse is what he is doing to you.

If you're scared of his reaction you need to write down all outgoings and what the issue is and present it to him. Tell him how stressed you are and that it's not fair that you facilitate him earning what he does yet you are not benefiting from it.

NerrSnerr · 29/01/2023 16:39

You've been together 20 years. You shouldn't be scared of his reaction, you should be a partnership. If you're having to keep massive secrets like this as you're scared of his reaction I would be questioning whether you should be in a relationship with him.

Fancylike · 29/01/2023 16:40

It seems like he’s manage to really beat you down over time. He’s a nasty piece of work who is actually cheating you out of family funds. It’s not 50-50 if he keeps all of the bonuses and the household expenses come out of your money. Not to mention you working for minimum wage - guessing this also benefits him?

Please have this sit down talk with him as PPs have mentioned. If he doesn’t apologize profusely, immediately pay off the card, and start ensuring you are equal financially, keep in mind that your bank account would be a lot better off if you divorced him.

Notaschoolgatemum · 29/01/2023 16:40

@Twinklenoseblows i am aware. He will not see it like this. I’ve tried.

@RandomMess i’m thinking about this as an option.

@Sublimeursula one DC aged 16. Three other DSC two of which are financially dependent and at Uni. The funds in the business account are enough to run it but certainly not enough for me to take the money I need by Tuesday.

OP posts:
Ponderingwindow · 29/01/2023 16:41

There are simple solutions here

you can pay yourself a fair wage from your business

you can write down the actual household expenses and sit down with your partner and explain that the current situation does not work. There is not enough money in the household coffers to meet the current expectations.

then you explain what happened, apologize for allowing debt to occur instead of speaking up sooner, and present the possible solutions. Then you discuss.

He can get angry about debt for a bit, leave the room, calm himself down, and come back and discuss. If it is more than that, you know the solution has to be that you need to have more income because you can’t trust him.

Theeaglesoared · 29/01/2023 16:44

Does he not trust you with money? Is that why he's so controlling?

Notaschoolgatemum · 29/01/2023 16:45

@Fancylike he really isn’t nasty. Like a lot of men, lost a shit ton of money in a divorce and is wary of doing the same again. We are not married.

OP posts: