The Mom With $135,000 In Credit Card Debt Who Spends $400 A Month On Starbucks
“I love new clothes. However, I like getting rid of the clothes just as quickly to go buy new ones.”This lady who appeared on Oprah lives the life of a big house in the burbs, new cars, six beautiful kids, and spending way beyond her husband’s $5,000/month salary. Felice drops $400 a month on Starbucks, $240 on tans and manicures, and her children have no health insurance.
“I have six kids and I sell their toys sometimes just because I don’t like them.”
When money runs dry, as it often does, she takes out cash advances. She handles the family finances and hides receipts from her husband underneath a baby blanket in a drawer.
When I do shop, I do kind of get a rush. It makes me feel good… but afterwards, though, I get depressed. I’ll buy something even if I really don’t like it because I have to come out with something.
On page 5 you learn they’re on the brink of being totally financially destroyed with $135,000 in credit card debt, $1,700 a month for three cars, two mortgages at $685,000, and are two weeks behind on their mortgage payment. Before you make Felice out to be the totally baddie, the husband is just as culpable for not asking more questions and making sure the numbers add up. He even says that he would get credit card bills and not know where $10,000 of it came from.Suze Orman’s solution for them? Sell the houses and cars, move to Seattle, and for Mom to get her ass a job. Perhaps at Starbucks, since she likes it so much and they offer health insurance to part-time workers.
Keeping Up with the Joneses [Oprah]
************
I can’t believe this woman. First of all I don’t understand how she could juggle all that debt on $5,000 a month take home pay from her husband’s job. Her debt makes mine look tiny. Before I switched my balances around and lowered my interest rates I sometimes felt like I was just drowning in debt and I really hadn’t charged anything for years. Paying my credit cards, month after month, for stuff that I don’t even remember buying or better yet, have most likely thrown out makes me feel awful. I’ve never even been to a Starbucks and I don’t get any pleasure out of buying clothes, I tend to think about all the money I’m spending and it makes me feel anxious.
I wonder how she does it? I wonder if there is any hope for her? I’m sure if the people in my “real life” knew about the debt we’ve accumulated they’d look at me like I’m looking at this woman. I am really no one to judge her but I really can’t help myself, probably because on some levels I can identify with her. For the sake of her marriage, her children and herself I truly hope she can turn things around and get back on financial track.
{ 0 comments… add one now }