Ultimately, I think not a lot of people understand that while there are risks involved with this relationship, there are the same risks involved with the traditional "partner" (2-people) relationship.
In a way, a three-person relationship would be less-devestated by one of the three losing work, becomine disabled, or leaving. Because they've then lost 33% instead of 50%. Can you see the advantage there?
If one wins the lottery, they all do.
I'm not a lawyer and do not "know" the real legal implications, but I could logically see the law treating this as a 33% division. These three have committed to each other; though it may not be on any legal document, common-law marriages are not documented either.
Ceejay74 originally asked whether it would be best to save or to pay off these debts. The goal never changes, only the specifics change. The only specifics are the interest rates on the debts. So you start there.
The basic goal is to pay off those debts that cost more than you can make by saving. So whatever rate you can earn by saving is what you need to determine.... you already know the interest rates that have to be paid.
When your debt interest rate is the same or lower than what you can make by saving, then you have a choice -- continue to pay off the debt or start saving.
That's all I can offer.
|