Dear Penny: must i utilize my cost savings to cover down my boyfriend’s pay day loan?

Dear Penny: must i utilize my cost savings to cover down my boyfriend’s pay day loan?

Final fall, my partner that is live-in of years needed to miss weeks of work as a result of a vehicle accident and a household member’s death. He got a couple of loans that are payday around $1,300 in order to make ends fulfill.

He’s had to move it over many times and from now on the total amount has ended $2,500. They can just spend the money for month-to-month fee each month to move it once again.

We’ve always kept our money separate and separate bills 50/50. My partner hasn’t been irresponsible with cash into the past. It absolutely was simply a sequence of bad luck that got him right here.

We have $4,700 in cost cost savings for emergencies. Must I make use of that to bail him using this nightmare? He hasn’t expected me for assistance, but i simply desire to put this behind us and obtain a fresh begin. It can frighten us to create my crisis savings down a great deal, but this feels as though the decision that is right. Would we be making a mistake that is big?

Exacltly what the partner is experiencing is totally an urgent situation. Continue reading “Dear Penny: must i utilize my cost savings to cover down my boyfriend’s pay day loan?”