Do you ever have $ disagreements with your S/O?

[widebody911]

My g/f is of what I would consider above-average intelligence. She's a doctor working in upper management at an HMO. There are things on which we disagree, most of them financial. I think part of her problem is she makes too much money, and doesn't really think about where it goes.

She thinks that since she doesn't owe any taxes, she doesn't have to file by April 15th; she's of the impression that she can file whenever she damn well feels like it, since the government owes her money. I told her she needs to file by 4/15 irrespective of who owes what. She sez I'm wrong.

She also thinks it's a good idea to maximize withholding, so she gets a bigger "bonus" when the time comes. I tried to explain that she could be doing something else with the money in the mean time, but she says she doesn't need it.

For the hat trick, she also doesn't want to re-fi her house, as she thinks it's too much expense and hassle: she bought in '98 @ 8.5% and owes about $150k. I tried to explain to her that she was pissing away about $500 a month in interest, again she says she doesn't need the money.

We had a discussion about the economy the other day, specifically the unemployment numbers. She is of the opinion that if you're unemployed, it's your own damn fault (the "life choices" argument) and you should get a job at WalMart or McDonalds and quit whining. I mentioned that about 600k people had been recently unemployed - should they all try and get jobs at WalMart? The answer was an emphatic "yes" - that or Home Depot.

Then again, what do I know? She's the one with the education...

[David]

We don't usually have disagreements because we keep our finances separate.

It sounds like you guys do too, but I guess the difference is my wife makes considerably less than me so I don't really care how she spends her money (within reason).

It's funny how people can be really book smart but still lack basic understanding of simple things

My favorite, "I don't want to make any more because I'll be bumped into a higher tax bracket"

[Hard-Deck]

O....M....G !

Have you ever read The Millionaire Next Door? The author explains that Doctors are some of the worst money managers and investment savy people. You're post confirms it somewhat.

[targa911S]

We have been married for 27 years. In the first year we agreed it best to have a "House account" that we both contribute to and then we each have our own accounts. That includes credit cards. Saves a LOT of arguing about money. She is the type that will look for a penny if the books don't balance. Me well if money talks, all it ever says to me is goodbye. She bought me a t shirt once that read " I can't be overdrawn...I still have checks" Kinda says it all.

[vash]

she is a girlfriend. only the last part...the discussion of the economy should apply. the rest is her bizyness.

not everyone understands money. i guess your doctor friend falls in this camp.

now if you marry this girl...you take care of the money.

[nostatic]

is she hot?

She certainly is stupid. She better be hot.

[widebody911]

Can someone definitively answer the tax filing question?

[nostatic]

afaik you have to file on the 15th or file an extension. Doesn't matter who owes what. No exception.

[legion]

That's actually pretty common among doctors. Being good at medicine does not make one good at finances. In fact, I find the two rarely intersect. She's just lucky that she doesn't outspend her income, as I know many doctors who do.

I was a finance major in college. That doesn't make me an expert on personal finances, but it does mean that my wife usually trusts me with our financial decisions. Now, I don't make any decisions alone--I run ideas past my wife, explain my reasoning, and get her feedback. She often provides a valuable reality check to my high-flying ideas. A funny recent development is she has been taking tests for her LOMA certification. She's learning many of the things now that I learned in college and it makes the finance discussions much easier.

I don't have many money-related disagreements with my wife. As a rule, we don't tell each other "no" about the other's spending--but one of us may ask the other one to defer a purchase. This system works fairly well as it doesn't lead to one of us telling the other what they can and can't do. My wife wants a new house. I have asked her to defer that purchase until next year--when we can get our current house on the market. I want another Porsche. My wife has asked me to defer that purchase until after our finances settle from getting a new house. My wife wanted an expensive haircut/coloring spa day. I asked her to defer that two weeks as a lot of bills hit on the last paycheck. I want a netbook. My wife has asked me to defer the purchase until after she gets her spa day.

This system works well for us and allows us to prioritize our spending while getting input from both of us. It also allows each of us to do the things we like without feeling guilty or telling each other "no".

[GO DAWG GO]

Widebody,

As far as I know, As long as she can prove she doesnt have a tax liability (Owe) she legally doesnt have to file before April 16th. seriously..Thats the way it used to be. She will have to file by the end of the year...

Check it out

Bob

[nostatic]

I wanted to buy a new revolver. I asked my....oh wait....I didn't ask anyone, I just bought it.

Though now both my g/f and son like shooting it so much I don't get to use it.

[legion]

Originally Posted by nostatic

afaik you have to file on the 15th or file an extension. Doesn't matter who owes what. No exception.

Yep.

[einreb]

Post a link to a pic asap. Like the other pics on your website, i can increment the file name numbers myself.

TIA

[lendaddy]

Originally Posted by nostatic

is she hot?

She certainly is stupid. She better be hot.

A rare +1

[jwasbury]

Filing your return late can increase your chance of an audit. If you're a few days late, probably won't, but 6 months or a year and there's a much better chance you'll be selected for audit. Also, statute of limitations (3 yrs) does not begin to run until you file. If you are due a refund, there is no monetary penalty for late filing, so you gf is perhaps thinking along that line.

[911Rob]

Too bad about the interest payments? That's crazy.

My wife and I had ONE argument about money at the beginning of our relationship. She got stressed out about some bills or something and it got out of hand for her. She didn't like having to ask me for money, it made her very uncomfortable. From that day forward she's never had to ask me for money. I put $x in her account on the first of each month from that day forward.

I'm the spender in the family, so whenever I buy a toy I give her an equal amount of $ to spend as she chooses. With my spending habits this has kept her very happy. She's shopping for new couches today. Ha.

I was able to convince her that the boat and sleds were "family" purchases, but the car was a killer!

Good luck with your lady doctor friend
Focus on that interest rate refinancing.

[onewhippedpuppy]

Originally Posted by nostatic

is she hot?

She certainly is stupid. She better be hot.

+2 Really, I don't think this can be quoted enough.

[Jim Richards]

Originally Posted by nostatic

is she hot?

She certainly is stupid. She better be hot.

Originally Posted by onewhippedpuppy

+2 Really, I don't think this can be quoted enough.

Indeed. A new entry into the PPOT Hall of Fame.

[cantdrv55]

We're still waiting for the pics, Thom.

+1 on the Milionaire Next Door and docs not being good money and business managers. No offense to the docs here as I'm sure you fellas are on the ball. I deal with docs on almost a daily basis and it's pretty much the same story with all of them - they don't read the fine print on the contracts and allocate their resources rather poorly.

[asphaltgambler]

I've heard this as well where Doctors are notorious for their lack of money management skills........