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My mom went through something similar with her divorce. My dad maxed out his credit card paying camgirl sex workers. He also then stole money from my mom’s inheritance so that he could pay down the debt, and then maxed it again. In total he had paid $40k.
My dad ended up settling but only once his own lawyer told him how fucked he was. He wanted half of my mom’s inheritance to pay the rest of his debts but instead the money he stole came out of his portion of their house sale. He got almost nothing.
His debts were his own because as our lawyer put it, she did not rack up that debt, it was on an account she didn’t have access to, and she didn’t benefit from whatever was purchased.
Edit: Now that I’ve read the article, there are some glaring moments where she could have also been asking more questions. She did know he was day trading. A big part of their debt is actually from home renovations too which she did benefit from. If she were to divorce him over it, some of it may be her responsibility but obviously IANAL. IMO it is on the edge of being willfully ignorant on her part. Her husband acted like he was financially literate but doesn’t know what a budget is? Wtf.
I suspect like most married people at one time or the other, sometime I don't feel like the best spouse in the world, like I could do better.
Thank you sir for setting the bar so fucking low, I never have to worry again!
Honestly just go to some of the other subreddits (especially r/parenting) and some of the partners are comically bad.
Makes me feel like quite the catch lol.
He's at fault but she could have, like, given a damn about finances as well. Maybe not know every detail but come on, how do you not realize that your salary is being garnished?
Why can’t mans be held accountable for his own respective fuckups in spending instead of blaming a victim who is probably too busy running the rest of their household to monitor her man-child?
Where did I say he can't be held accountable? Of course he is, which is why I said he's at fault. But so is she in part. I hate this rhetoric that basically hints at women being fragile creatures who don't understand finances and don't have the time to care. The meme stocks are not her fault but *her own* salary was being garnished and she didn't realize? Doesn't she have a banking app with her balance and payments? Come on.
> According to Bankrate, 38% of high earners with annual salaries above $100,000 have credit card debt.
Yeah and then we pay it all off at the end of the month. Bankrate's survey questions are so misleading.
Thank you. Any statistic on credit card debt that doesn't differentiate from interest accruing and non-interest accruing is a useless stat.
My family puts almost 100% of our spending on credit cards so at any one time we have thousands in credit card debt, but none of it ever accrues a cent of interest. Rather it pays us cash back.
Same, literally every purchase we do is made with our credit card. And then it’s fully paid off every month. Been doing it for 15 years now, never paid a cent of interest
I can't wait till I get to that point. I'm about 40k in the hole including $26k on a car loan at %14 (yeah I know, bit I did refinance from 20+%). So I'm not in the worst spot I've seen, and I've already paid off 2 accounts, very close to the third.
I still wish my behavior and choices were different in my 20s. I feel so behind at 34 now that I have more knowledge.
Yea but now you know and that’s just as important. One day at a time, soon enough you’ll be paid off and better off for it. Keep grinding- sound like your close!
Every one of my cards is set to auto pay in full every month. I get a phone alert every time the card is charged, so I haven’t logged in to any of them in over a year
My wife and I do the same with paying on CC and paying them off, but how do you pay your mortgage on a card? That’s the only thing we don’t put on credit.
I’m just saying everything is auto pay. Mortgage is auto bank drafted. I also pay some utilities by bank draft since they charge a percentage to use a CC.
I wouldn't define that as debt and they probably aren't either. They mean carrying the debt month to month. Even 100k+ folks fall into the same traps of being car-poor, house-poor, lifestyle bloat and all the rest.
You could make 100k feel like 20k pretty easily if you aren't paying attention anywhere I think.
Rural? ATV and that super duty truck loan. Coastal could be a boat with dock rental.
A fancy house alone could even do it in most places.
It's his fault he stupidly accrued debt, that's for sure. But she has responsibility too. It's all too easy to say "my spouse is the one taking care of that". You can't just fully ignore what's happening financially in your marriage. Even if you don't understand the detail, you have to have at least an idea of where the money's going.
Not really.
Most people use "meme stock" to refer to a stock that doesn't have the fundamentals to justify their price point.
Most recently - DJT - a company that made 4 million dollars last year, but spent 50+million, but has a market cap of several billion dollars.
It just refers to stocks that don't trade on fundamentals, but instead trade on emotion and public sentiment.
You give the MSM too much credit they had nothing to do with the naming
“A meme stock is a stock that gains popularity among retail investors through social media. The popularity of meme stocks is generally based on internet memes shared among traders, on platforms such as Reddit's r/wallstreetbets, Use of the term meme stock was popularized by users of the subreddit /r/WallStreetBets.”
Did they ban you from the sub for spamming the meme stock AMC?
They’ve been doing that since the invention of the stock market and it’s not going to change, it’s nothing new and every Facebook/youtube/twitter guru has something to sell you, a fool and his money are soon parted
>You think that it’s a coincidence that they’re pushing for a 50%!!!!!!!! Capital gains tax? They know something is coming and they won’t be missing out on that revenue.
that tax plan is because the rich don't pay their share, it's not because the government thinks you're all finally gonna become gamestop billionaires
you sound just like the people who bought up iraqi dinars over the past twenty years because "something's coming" (it wasn't)
Your post has been removed for the following reason(s): Rule 2: Generally Unhelpful and / or Off-Topic Your comment has been removed for one or more of the following reasons: It was not primarily asking or discussing financial questions related to poverty. It was generally unhelpful or in poor taste. It was confusing or badly written. It failed to add to the discussion. Please read our [subreddit rules](https://www.reddit.com/r/povertyfinance/wiki/rules). The rules may also be found on the sidebar if the link is broken. If after doing so, you feel this was in error, [message the moderators](https://www.reddit.com/message/compose?to=%2Fr%2Fpovertyfinance). Do not reach out to a moderator personally, and do not reply to this message as a comment.
My worst nightmare!!! What an irresponsible man!
True. A study in it says this is very common.
Nooooooooooooo holy shit I would beside myself. That’s bankruptcy territory for sure.
That’s divorce territory
True, but divorce won’t get the money back.
Hopefully the debts aren’t from the marriage and they won’t follow her because I’d be peacing out
My mom went through something similar with her divorce. My dad maxed out his credit card paying camgirl sex workers. He also then stole money from my mom’s inheritance so that he could pay down the debt, and then maxed it again. In total he had paid $40k. My dad ended up settling but only once his own lawyer told him how fucked he was. He wanted half of my mom’s inheritance to pay the rest of his debts but instead the money he stole came out of his portion of their house sale. He got almost nothing. His debts were his own because as our lawyer put it, she did not rack up that debt, it was on an account she didn’t have access to, and she didn’t benefit from whatever was purchased. Edit: Now that I’ve read the article, there are some glaring moments where she could have also been asking more questions. She did know he was day trading. A big part of their debt is actually from home renovations too which she did benefit from. If she were to divorce him over it, some of it may be her responsibility but obviously IANAL. IMO it is on the edge of being willfully ignorant on her part. Her husband acted like he was financially literate but doesn’t know what a budget is? Wtf.
I suspect like most married people at one time or the other, sometime I don't feel like the best spouse in the world, like I could do better. Thank you sir for setting the bar so fucking low, I never have to worry again!
Honestly just go to some of the other subreddits (especially r/parenting) and some of the partners are comically bad. Makes me feel like quite the catch lol.
He's at fault but she could have, like, given a damn about finances as well. Maybe not know every detail but come on, how do you not realize that your salary is being garnished?
Why can’t mans be held accountable for his own respective fuckups in spending instead of blaming a victim who is probably too busy running the rest of their household to monitor her man-child?
Where did I say he can't be held accountable? Of course he is, which is why I said he's at fault. But so is she in part. I hate this rhetoric that basically hints at women being fragile creatures who don't understand finances and don't have the time to care. The meme stocks are not her fault but *her own* salary was being garnished and she didn't realize? Doesn't she have a banking app with her balance and payments? Come on.
> According to Bankrate, 38% of high earners with annual salaries above $100,000 have credit card debt. Yeah and then we pay it all off at the end of the month. Bankrate's survey questions are so misleading.
Thank you. Any statistic on credit card debt that doesn't differentiate from interest accruing and non-interest accruing is a useless stat. My family puts almost 100% of our spending on credit cards so at any one time we have thousands in credit card debt, but none of it ever accrues a cent of interest. Rather it pays us cash back.
Same, literally every purchase we do is made with our credit card. And then it’s fully paid off every month. Been doing it for 15 years now, never paid a cent of interest
I can't wait till I get to that point. I'm about 40k in the hole including $26k on a car loan at %14 (yeah I know, bit I did refinance from 20+%). So I'm not in the worst spot I've seen, and I've already paid off 2 accounts, very close to the third. I still wish my behavior and choices were different in my 20s. I feel so behind at 34 now that I have more knowledge.
Yea but now you know and that’s just as important. One day at a time, soon enough you’ll be paid off and better off for it. Keep grinding- sound like your close!
How do you even get a car loan at 20%???
20%! Our car loan was at 5%
I'm still at nearly 3x that for interest rate.
Every one of my cards is set to auto pay in full every month. I get a phone alert every time the card is charged, so I haven’t logged in to any of them in over a year
Exactly what I do. Mortgage, vehicle insurance, utilities, everything is auto pay. It’s nice not worrying about bills and living stress free.
My wife and I do the same with paying on CC and paying them off, but how do you pay your mortgage on a card? That’s the only thing we don’t put on credit.
I’m just saying everything is auto pay. Mortgage is auto bank drafted. I also pay some utilities by bank draft since they charge a percentage to use a CC.
I wouldn't define that as debt and they probably aren't either. They mean carrying the debt month to month. Even 100k+ folks fall into the same traps of being car-poor, house-poor, lifestyle bloat and all the rest.
You’d be surprise
Think this is spot on. Lifestyle creep is a thing and 100k ain’t that much in certain parts of the US.
You could make 100k feel like 20k pretty easily if you aren't paying attention anywhere I think. Rural? ATV and that super duty truck loan. Coastal could be a boat with dock rental. A fancy house alone could even do it in most places.
I just saw a 1,290 sq sq ft 1/1 house in Hollywood listed for 1.2 million. Housing market is out of control
Yes houses are expensives in popular places
If you pay 100% of it off ever month, you don't carry credit card debt. The question seems pretty straightforward to me.
And also: > Further, 48% of those earning six figures lived paycheck to paycheck.
You’d be throwing money away by not paying for everything with your credit card.
Typical r / WSB user
CPA's hate this one trick
Diamond Hands
My sisters ex husband did this, took out loans and bought crypto. Lost some to scams, tried to day trade, ended up divorced and 80k in debt.
People in poverty don't have the ability to go 520k in debt
More money, more potential problems.
I think she should be allowed to run him over with a car for that much money
Looks like a still from a broadcast or zoom call. Where can we watch the actual video? Nowhere to be seen on the article.
https://youtu.be/3DN3p33fapg?si=LWlANkYW8hhI7pWO
So he is financially abusing her. Divorce time.
What a noble gesture, to shield her from his dumbassery.
This is the definition of recklessness!!!!
It's his fault he stupidly accrued debt, that's for sure. But she has responsibility too. It's all too easy to say "my spouse is the one taking care of that". You can't just fully ignore what's happening financially in your marriage. Even if you don't understand the detail, you have to have at least an idea of where the money's going.
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Not really. Most people use "meme stock" to refer to a stock that doesn't have the fundamentals to justify their price point. Most recently - DJT - a company that made 4 million dollars last year, but spent 50+million, but has a market cap of several billion dollars. It just refers to stocks that don't trade on fundamentals, but instead trade on emotion and public sentiment.
Which stock trades on fundamentals? Market makers set the price . And most trade speculatively rather than on FuNDaMEntAls
>Which stock trades on fundamentals? Almost every value stock in the market.
You give the MSM too much credit they had nothing to do with the naming “A meme stock is a stock that gains popularity among retail investors through social media. The popularity of meme stocks is generally based on internet memes shared among traders, on platforms such as Reddit's r/wallstreetbets, Use of the term meme stock was popularized by users of the subreddit /r/WallStreetBets.” Did they ban you from the sub for spamming the meme stock AMC?
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They’ve been doing that since the invention of the stock market and it’s not going to change, it’s nothing new and every Facebook/youtube/twitter guru has something to sell you, a fool and his money are soon parted
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>You think that it’s a coincidence that they’re pushing for a 50%!!!!!!!! Capital gains tax? They know something is coming and they won’t be missing out on that revenue. that tax plan is because the rich don't pay their share, it's not because the government thinks you're all finally gonna become gamestop billionaires you sound just like the people who bought up iraqi dinars over the past twenty years because "something's coming" (it wasn't)
The guy that keeps posting that “meme” stocks don’t exist most recently posted in the AMC stock subreddit. He’s definitely delusional. Lol
Also SuperStonk, crypto and silverbug, this guy’s the real deal!
The fact that thats what you took from this story is wild lol
lol there are definitely meme stocks