Saturday, June 5, 2010

Financial Literacy: Financing For Love

I use to be a “court TV” junkie. Does anyone remember Judge Wapner?  I’m still a big Judge Judy fan, but I started getting frustrated with all the women suing their boyfriends over cell phones, unpaid rent, and car loans. The men on these shows were also “financing for love.” I’ve seen men suing their ex-girlfriends for cosmetic surgery bills, trips, and clothing. Why are people spending money they really don’t have to finance things for their girlfriend or boyfriend?

 

My heart really went out to a young woman that called a show I was listening to. She personally signed not co-signed for a student loan for her then boyfriend. Now, four years later, they are no longer a couple and he refuses pay.  What a hurtful situation she put herself in.  Another woman cried because she financed an expensive car for her ex-boyfriend. She whimpered, “He had bad credit, but was smart and convinced me he needed a Mercedes Benz to make big money in music industry.”  A nice guy maybe 35, looks over at his now ex-girlfriend in court, he paid for her to have breast implants and now wants the thousands of dollars he spent on them back.

 

“Financing For Love,” is a concept that’s been around forever. What scares me about today’s financing is that women seem to be the number one lenders. How did this happen? I’ve heard men complain about paying for dates and expensive gifts giving women the names like “gold-diggers” but what do we call men that use women for their money?  I’m not sure but I haven’t heard a song about them.

 

Rather woman or man financing for love is a very dangerous model to use when trying to establish a long lasting relationship. So what should you do when your partners money run out?  I’m not saying you should never offer to help, but make sure you can really afford to GIVE the money as a gift not lend the money with an expectation to get it back. Otherwise I might see you next on Judge Judy!

 


Warm regards,
Dina Harbour, Extraordinaire
CEO & Host of Women Obtaining Wealth
Women Obtaining Wealth Organization
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