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My girlfriend and I have been together for the last few years since graduating university. We both work as teachers, with her having back to back jobs and me working as a Substitute. My girlfriend has $75,000 in student loans that work out to be about $650 a month that she has to pay. On top of a new car she bought 3 years ago and still has 5 years to pay for, we have an $18,000 house from a family member that we only started paying them back for this year, a $10,000 LOC to make home repairs. I have a credit card with about $3,800 on it and $22,800 in a student LOC that I pay min $100 a month. I've thought for the last few years that we've been doing "okay" financially. The housing payment and LOC have been additions to our debt that are very recent, but have been manageable. I've paid off a small amount of my student debt, added a bit to my credit card, but recently (before this all came down) have adopted a focus on paying my debts down and stop wasting money. Things are different now: my girlfriend didn't get another job for next semester. The board in our area has been losing students and as a result positions have been cut. When it became clear that she wouldn't be working next year in this board, we had a very frank discussion about our situation, and the gist of it is that she cannot make enough money working as a substitute teacher to pay her bills. If she makes less than ~$45,000, she is hosed. Before this I thought when she said "I cannot sub" she meant her ego wouldn't allow her to sub. She has applied for a job that she hopes to get working for a private school several hours away in the town my parents live in, but the pay is unlikely to be as good and she just has an interview. The position is just for 1 year. Yesterday we talked about what we might have to do, assuming she gets the job, which is move in with my parents (not ideal: they have offered to let us stay with them in the past, but I don't want to be a boomerang child, parents have their own issues, we have a dog, etc) and have me sub in that board. She wants the dog and I to go with her and leave our house, though her father can look after it during the winter. If she doesn't get this job I don't know what we are going to do. It's possible she will have to look at teaching in Northern Quebec or somewhere out of province, somewhere far away that will pay enough for her to pay her bills. I'm terrified about this sudden change in life. I feel like Wile E Coyote and in the past few days I've just looked down at my feet and realized I'm off the cliff. I don't know what to do. I don't want to move, I don't want to be apart. I really want things to continue to be the way they have been, but it doesn't look like that is an option any longer. Basically I feel like I'm drowning.
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Jul 18, 2015 01:26
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Professor Shark posted:My girlfriend and I have been together for the last few years since graduating university. We both work as teachers, with her having back to back jobs and me working as a Substitute. At the very least she should look into Income Based Repayment if you have something like that in Canada, my fiancée has $69k in student loans and her minimum should be $750/mo for 10 years but because of her income level it is reduced to around $350/ month with a gradual ratcheting based on whether her income rises to keep pace with the loan over sound 15 years.
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Jul 18, 2015 01:39
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Head on over to BFC and ask for some help my man.
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Jul 18, 2015 02:08
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Maybe you should come over to BFC where we can tell you that you actually haven't been doing "ok" financially and how you might proceed from here. But E/N is probably a good place to tell you that (1) you can handle a defined time apart from each other, suck it up and (2) you need to be on the same page about finances - if one of you is a thoughtless spender/debtor and the other cares, you are hosed.
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Jul 18, 2015 04:34
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Let me know if you want me to move this over to BFC. If you want to focus on the "holy poo poo what is happening" part, this is the place. You guys have bought a house together, so did you have the frank financial talks then? That's a big relationship rite of passage because it's stressful as gently caress. Do you think that has prepared you guys for this? Would you moving mean you losing your job? Is it reasonable for you to get a different or part-time job to help?
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Jul 18, 2015 04:44
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If you're Canadian, and unless her bank loans are from the 90s or early, she should be getting on repayment assistance right now. Its income based and it'll drop her payment to a negligible amount if she's subbing and to 0 if she's not.
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Jul 18, 2015 05:23
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MassaShowtime posted:If you're Canadian, and unless her bank loans are from the 90s or early, she should be getting on repayment assistance right now. Its income based and it'll drop her payment to a negligible amount if she's subbing and to 0 if she's not. Because of her income and the fact that we declared we were living together, her payment was reduced by $50. detectivemonkey posted:You guys have bought a house together, so did you have the frank financial talks then? That's a big relationship rite of passage because it's stressful as gently caress. Do you think that has prepared you guys for this? We were only dating for about 3 months before her and her father bought the house, there wasn't really a lot of talk about finances at that stage. After I moved and things became more serious we talked about payment, which 50/50= $9000 seemed doable for me. I would be able to pick up a job if we moved together, however due to the nature of sub work I may see a reduction in the amount of days I get thanks to 1) more competition, I'd be The New Guy and 2) principals being able to just phone preferred subs in that board. slap me silly posted:Maybe you should come over to BFC dogcrash truther posted:Head on over to BFC and ask for some help my man. detectivemonkey posted:Let me know if you want me to move this over to BFC Yeah let's do that, I need to get my poo poo together and it doesn't seem to be working with me doing it myself.
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Jul 18, 2015 13:01
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So you moved in together after 3 months dating?
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Jul 18, 2015 13:06
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As in, bought a house together? Or is it 'her' house that you are living in and helping pay on?
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Jul 18, 2015 13:06
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A gift to you from E/N!
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Jul 18, 2015 16:02
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Thank you, Detective Monkey? 
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Jul 18, 2015 16:32
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Do you literally owe nine thousand dollars for half a house or did you lose a zero in there somewhere? I'm having a hard time telling what's going on with that. Who owns the house? What mortgages or debts are in play? Also, how entangled are y'all two's finances? Do you handle everything separately or do you share the debt payments, or bank accounts? Or what?
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Jul 18, 2015 16:50
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Literally, we're in a very rural area and the house was sold for even less than other houses in the neighborhood in order to keep it in my girlfriend's family. It's currently in my girlfriend's name, she wants to put it in both our names. There isn't a mortgage, just a payment that we make for $300/mth. Our finances are separate; I pay my half for our LOC, Housing, and bills by transferring her money each month.
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Jul 18, 2015 17:24
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Professor Shark posted:Because of her income and the fact that we declared we were living together, her payment was reduced by $50. What does she owe on the car? Rate? Teachers don't buy new cars, that was a mistake that she might need to try and undo.
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Jul 18, 2015 20:14
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Un declaring would be lying, though  She owes quite a bit on the car. I'm not sure about the rate. Worth mentioning: I forgot to pay my Mastercard bill last month, even though I had the money. Pure stupidity, I thought I'd paid it. I'm now worried I'm going to go from 11.9% to 28%, which my girlfriend said is very likely to happen. I have $3800 on it right now.
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Jul 18, 2015 21:23
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Did you call nslc when she was employed? She has no income now since she is no longer employed. Call national student loan services. They will reduce her payments further unless youre making like 75k.
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Jul 18, 2015 23:27
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Professor Shark posted:Worth mentioning: I forgot to pay my Mastercard bill last month, even though I had the money. Pure stupidity, I thought I'd paid it. I'm now worried I'm going to go from 11.9% to 28%, which my girlfriend said is very likely to happen. I have $3800 on it right now. Call them (right now). Tell them you screwed up your bills last month and beg them not to penalize you this one time. They might cut you some slack. Then don't gently caress it up again.
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Jul 19, 2015 00:57
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She called while she was employed. The woman she spoke to laughed and told her that based on her income/ my working. From what she told me, they are only willing to reassess every x number of months... ^^^ Calling Professor Shark fucked around with this message at 01:27 on Jul 19, 2015 |
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Jul 19, 2015 01:25
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Spoke to Mastercard: everything is good there and I'm in good standing. It turns out I was 3 days late paying it last month but it was paid and for this month I paid twice as much as my minimum... but my current rate is fine (I had her repeat this twice just to be clear).
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Jul 19, 2015 01:52
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Professor Shark posted:She called while she was employed. The woman she spoke to laughed and told her that based on her income/ my working. From what she told me, they are only willing to reassess every x number of months... Call them back.
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Jul 19, 2015 04:32
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She has an 8 year auto loan? How much is left on the loan, and how much is the car currently worth? Do you guys have a monthly budget? Could you post your monthly expenses here, and maybe we can see if we can find you two some more wiggle room?
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Jul 19, 2015 12:52
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A GIANT PARSNIP posted:She has an 8 year auto loan? How much is left on the loan, and how much is the car currently worth? 5 years, and not very much due to the amount of kilometers We tried creating a money tracker thing, but we both fell off from using it, preferring just to "keep expenses low". Aside from beer, there isn't really a lot of spending that I can cut back on, but I'm more than willing to go back to it. MassaShowtime posted:Call them back. I will bring this up with her later today. Edit: I forgot to mention that I've sold off most of my cologne collection and my entire watch collection and will be "cashing out" my Paypal in order to pay an outstanding Property Tax bill. I just wanted to post that here so that I'm obligated to do it. Professor Shark fucked around with this message at 14:30 on Jul 19, 2015 |
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Jul 19, 2015 14:18
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So you have roughly $130,000 in debt? What is your income? What are you currently spending per month on debt repayment and other bills?
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Jul 20, 2015 02:02
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Income varies: right now it's $352/week since I'm on EI Payments: $75/mth for Mastercard (minimum), $100/mth for Student LOC (this is above the minimum but I put on the extra $25, which surprisingly hasn't gotten me very far), $140/mth Housing, $80/mth for our LOC I spoke to my girlfriend about her Student Loans- her reduced payment is up at the end of this month and she can file again, the last time she was speaking to them the woman on the other end told her to put down the minimum amount she and I will make on EI, so hopefully that will reduce her payment more. Her car, with insurance, is $460/mth
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Jul 20, 2015 11:41
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Baby Steps: Monday is our "Cheat Night" where we eat junk, drink wine/beer, and watch True Detective. Today I bought two beer, and we're going to eat popcorn we bought in bulk instead of chips.
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Jul 20, 2015 18:27
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Honestly watching your spending is a waste of energy, the only thing that is going to help you guys out is a massive increase in income. Focus your energy on making more money. Side jobs, tutoring, whatever. If people here can clear 6 figures a year writing short erotic stories, you too can find a way to make more money.
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Jul 20, 2015 21:42
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skipdogg posted:Honestly watching your spending is a waste of energy, the only thing that is going to help you guys out is a massive increase in income. Focus your energy on making more money. Side jobs, tutoring, whatever. If people here can clear 6 figures a year writing short erotic stories, you too can find a way to make more money. I don't really get how reducing spending, even if it's just small amounts wherever we can, can be a waste of time. I agree that we should also be finding ways to generate more money. I used to paint, and enjoyed it. I swear I read somewhere that turning hobbies, or things you do for fun, into income was A Good Idea.
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Jul 21, 2015 12:54
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Reducing spending is going to be very hard. When you're making less than $400 a week, finding more income is easier than just about anything else. And yes, finding a hobby that pays is a good idea. Painting... probably not one of those hobbies unless you start up a business like those "I'll paint you a watercolor from a photo for $5" or something. What are your other skills? Can you not find work tutoring?
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Jul 21, 2015 14:15
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Most full time teachers have some side job. Landscaping, selling bbq chickens in the summer, illegal daycare, farming, selling things door to door, etc. Sub teaching is a 7 hour day? Deliver pizzas after work. Your debt is more than manageable assuming the student debt is interest subsidized.
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Jul 21, 2015 15:09
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My girlfriend's father has worked as a caretaker/ truck driver/ dish washer/ everything-guy out West (Alberta) up until a few months ago. He has a few friends that are in charge of hiring who he stays in contact with. We were talking today while doing some repairs on the house and I told him that if he can use his contacts to find me a job doing anything, I will be out there. With my girlfriend possibly getting a job away from the town we live in and us likely not living together anyway, being apart and at least making more money wouldn't be the worst. I guess I'll just have to see what comes of it... if I can pay down debt, living as a Substitute wouldn't be bad 
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Jul 21, 2015 21:45
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Update: It looks like my girlfriend didn't get that job*, meaning we're both going to be subbing at home. She's going to contact the Student Loan people again, but when she last spoke to them she had someone who was actually helpful and was told to put down her minimum income (EI) when she reapplies for assistance and not to guess what she'll make subbing (the time she phoned before that she spoke to a woman who laughed at her and told her she didn't need to be on assistance). In other news, I'm waiting for my Paypal withdraw to go through, then I'm paying our property tax bill. *Which I think is a good thing: they had her come in for an interview last week, then planned on having the shortlisted candidates come in for an hour each to teach a lesson, all without telling them what the salary was... that comes after teaching the lesson. It sounds like they really want someone who is investing themselves and would be willing to take anything. At a bacherlorette party my girlfriend was at another teacher told her they pay terribly Professor Shark fucked around with this message at 12:51 on Jul 29, 2015 |
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Jul 29, 2015 12:48
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OP Update: My girlfriend ended up having a single interview for 3 possible jobs, and was selected for the "best", i.e. full year, open position, which mean she is strongly in the running for getting it next year. It also means that out of all the teachers in her field without contracts or full recall, she is the first in line for a full time job next year, which will give her recall, which means she's in a good position to get a permanent contract in the next 2 years. Nothing came up for me, so it's back to subbing. I've cut back on expenses and the only thing I've bought for myself lately has been a few 6 packs of seasonal beer and an audio book off iTunes. We still owe some property taxes, but it's at ~$275 right now. Negatives: When my girlfriend landed her job, she decided that we should buy an expensive pillow top for our mattress for ourselves for Christmas, effectively doubling the amount that we normally spend on each other. Before that I'd already decided to make relief prints for my family members for Christmas, as I've really been into linocutting lately (I did oil painting/ water colors for years before), but she feels that at my age I shouldn't be sending people art for Christmas because that's just not what her family does. /en
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Sep 20, 2015 15:00
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Good news is Christmas is a few months out so you can work that into your budget. Now to figure out how to work that into your budget...
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Sep 21, 2015 16:15
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Update: I stupidly torrented an adult film, was sent an email demanding payment, and sent them $300 to settle. On the bright side, it's helped kick me of a bad habit, and a couple articles I read have mentioned that studios are pushing these services to pass on names for lawsuits since people have generally stopped paying, so maybe the $300 could have become something larger? I also spent $100 on a couple pairs of pants and underwear last night, but I've easily saved that much by cutting back on my beer consumption over the last couple months. I'm also tutoring a student right now, and while it doesn't pay much, it will end up being ~$250 when I'm done
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Oct 3, 2015 13:32
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I can't believe some sort of porn torrent notice thing has any sort of validity. I know nothing about that stuff, but it was a mistake that you paid it. Why are you unable to land full time jobs when your GF seems to have at least some ability to do so? It sounds like wherever you live is basically a dying community with no property values and shrinking schools. Without seeing a real budget, it's hard to say, but I'd contend your best bet is to move to an area that needs teachers but has a reasonable cost of living. Ideally you get into some place that has a loan forgiveness plan, or whatever Canada has in place for that sort of stuff. If at all possible, you should sell the car, and buy a cheaper car if the math works out on that.
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Oct 4, 2015 19:34
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n8r posted:I can't believe some sort of porn torrent notice thing has any sort of validity. I know nothing about that stuff, but it was a mistake that you paid it. No
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Oct 6, 2015 22:49
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Oct 6, 2015 23:29
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