Dear Annie: For the past several years, my husband has taken out a new credit card each January and maxed it out over the next 12 months. This has resulted in major debt, which I fear will devastate our family and possibly affect our children and grandchildren.
My husband is a good and caring person who often picks up the restaurant tabs for our friends and family and buys them gifts they could buy for themselves. As a result, he is extremely popular. If I try to limit these unnecessary expenses, everyone thinks I’m a spoilsport.
We are approaching the time where he will apply for another new credit card. Should I prohibit this until we reach some agreement on budget cuts? Should I let him go ahead and get the new card and then try to negotiate budget cuts? Or do I keep on trucking as usual and hope for the best? – Concerned Spouse
Dear Spouse: If you are going into debt, please don’t shove this under the carpet until you are living on the street. Your husband seems to be a compulsive buyer, and it can be similar to other addictions that require effort to overcome. Is he willing to recognize and address the problem? (Therapy can help.) Would he be willing to let you handle the family finances while he is put on a cash allowance? You also can contact Debtors Anonymous ( debtorsanonymous.org) and the International OCD Foundation ( ocfoundation.org) for information and referrals.