(Closed) I have school loans but he does not….

posted 6 years ago in Money
Post # 2
Member
1059 posts
Bumble bee

So you want to combine ALL YOUR MONEY TOGETHER?  If you feel this isn’t fair, which technically it isn’t, then I would suggest he keeps about the same amount of money (your loan) for himself without combining it in the pot.  Once you pay off your loan, then you both contribute to the pot all your amount.  Seems kind of fair now right?

Post # 3
Member
12264 posts
Sugar Beekeeper
  • Wedding: June 2011

If he is ok with one pot, then I don’t see the problem.  We combined all our finances and I had no loans, and DH came in with some loans that he/we paid off together.  His debt became my problem when we got married to me.  If you guys want to combine finances eventually, it’s actually in his and your best interest to combine now and pay it off sooner so that less interest is paid overall.  There’s no mine/yours when married, you do what is better for both of you as a whole imo.

Post # 4
Member
2214 posts
Buzzing bee

Eventually if you get married it will be all ” combined” money so I don’t see an issue. I have student loans and Fiance doesnt we pay all the bills out of our joint account works well. Much easier than trying to seperate who owes what out of which account.

Post # 5
Member
554 posts
Busy bee
  • Wedding: June 2014

DH and I follow the what’s yours is mine when it comes to money.. If you were going to combine finances at some point anyway, I don’t see that as a reason not to combine them now. I don’t see how it would effect your combined money any differently than it effects your money as is right now.

Post # 6
Member
8602 posts
Bumble Beekeeper
  • Wedding: September 2015

Well if he’s okay with, okay then! It’s not like you’re paying back your loan with his money. It’s the same as before but all from one account now. And it sounds like he wants to move towards our money vs yours/mine. I think that’s sweet.

Post # 7
Member
2155 posts
Buzzing bee
  • Wedding: January 2015

View original reply
bellweddingoct2015:  If you’re both OK with it, then I don’t see the problem.

DH and I both have school debt which we each pay off, but money goes back and forth depending on who is more flush and who needs it.

We see it as our money, our debt.

Post # 8
Member
311 posts
Helper bee
  • Wedding: August 2016

If he is okay with it, I wouldn’t worry about it. 

I’m in the same boat, but we don’t combine our finances. I just pay my loans from my money. 

Post # 9
Member
877 posts
Busy bee

View original reply
bellweddingoct2015:  if you’re married, his debt is your debt anyways. I don’t think it really makes a big difference If you combine them now or in 15 years (or whenever your loans are paid). I have loans and Fiance doesn’t, but he just views them as “our” loans now, even though we haven’t combined our finances. My finances/ debt/ credit all affect him once the knot is tied

  • This reply was modified 6 years, 3 months ago by MrsFiveOh.
Post # 10
Member
8517 posts
Bumble Beekeeper

We were in this same boat — I had some law school debt left and Fiance had none, but he wanted to combine our accounts and he helped me to pay off the remaining debt so that we could be debt-free together. He had a small salary at the time and hardly any savings so it was a huge stretch for both of us, but I am forever grateful. I constantly asked him if it was ok with him and have thanked him on many occasions since. He always smiles and says that it was NBD because it was “OUR debt.”

Post # 11
Member
1188 posts
Bumble bee
  • Wedding: April 2015

I’m in your situation. We kept our separate accounts and I pay my loans from mine. We have a joint account for joint expenses. 

Post # 12
Member
1286 posts
Bumble bee
  • Wedding: March 2015

Don’t feel bad. Your Fiance seems like a generous man who follows the spirit of what’s mine is yours and what’s yours is mine.

While I’ve been paying down my debt from my income only, it’s a joint effort because I’m able to make much larger payments due to my DH covering all of our living expenses. We also used some of our wedding gift money towards my loans. Just think of it from his point of view – once you erase “our” debt, you can turn it into “our” savings. The faster that you guys get rid of your debt, the faster that you can be saving that money instead, ie. no more $800 towards loans each month, but $800 towards savings!

Post # 13
Member
281 posts
Helper bee
  • Wedding: April 2016

If he wants to, go for it! It helps you both to have your debt paid off as soon as possible. 

Post # 14
Member
805 posts
Busy bee

View original reply
bellweddingoct2015:  If this is something he is really okay with, then you should let him. I will be walking out of college with lots of loans, but my S.O has been on a full ride all his years, so he doesn’t have any. However, he has told me that since, at some point, he wants to share our life together, he wants to also share in that debt. He claims that ‘You don’t pick just the good times to share-you deal with the rough, as well.’

While it goes against the type of person I am, it’s something he wants to do, and I will let him. Talk to S.O about why he wants to, and if he’s positive. If so, let him.

Post # 15
Member
4464 posts
Honey bee
  • Wedding: December 2014

Our finances are combined and I have wayyy more student loans than he does. 

As long as he’s cool with it, I say it’s fine.

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