Reply to Enlighten me about SAHMs and credit cards

Forum Index » Off-Topic

Reply to "Enlighten me about SAHMs and credit cards"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous] They have "income" in that they made a decision that their partner would earn the income.

"Income" is not income.[/quote]

ITA with this. People need to be very realistic when deciding to SAH. You do not have an income. SAHP make many sacrifices financially. You are putting faith in your partner earning an income that they will hold up his/her part of the bargain. I took a hit in income, retirement, and time in the workforce. I am fully aware and hope others are too. It is far better financially (in terms of security) to have both parents employed.

Financial companies have been FAR to lax on risk. Once the credit card companies were deregulated it has been an orgy of credit! Remember all the stories of dogs and children getting credit cards in the mail. I think we are going back to tighter regulations, which is a very good thing. As for SAHP getting caught in this credit tightening, well, that is just another financial ramification of deciding to stay home.[/quote]

No, it's a ramification of the law not recognizing that spouses, even in common law states, DO have access to a good portion of their spouse's income under the law.  It makes SAH or lower-earning parents appear to be a greater credit risk than they are by making it appear that they have no access to spousal income.  This thread seems to be very anti-SAHM, but in my home it's allowed us to to have a HHI of over $2 million per year, while our HHI when we both worked was less than half of that because neither of us was available to put in the hours and travel to make my husband's now very high income.  We are both financially savvy and make decisions as a unit, because we are one.  There is no reason to require credit card companies to assess a SAH or lower earning spouse's risk of default in a way that ignore his or her right to the spouse's income.  [/quote]

I am the PP your replied to and have no idea why you think I am being anti-SAHM because I am SAHM. I think you are naive if you think it isn't a financial risk for creditors. Divorce and deathto do noton always work out in the SAHP favor. I am only stating if you are financially savy, you should maintain your own credit cards BEFORE marriage and maintain some financial independence because life is long.

I don't feel that creditors should hold my decision to be unemployed as a special consideration. Risk models are not a value judgement, nor should they be![/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics