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Hi Everyone,
I am hoping you guys can give me some relationship/financial advice.
My girlfriend recently quit her solid (~55K per year) job to start medical school in the fall. She quit her job early to take her dream trip to Europe before she starts school.
I knew this trip was going to be expensive and frankly unnecessary 1 month vacation. However I found it difficult to directly voice this opinion because my family is quite wealthy and I have been to Europe many times before. Her family has been in a very difficult financial situation since she was a kid and she has never had an opportunity to travel. So i thought it was important to support her desire to travel. I couldn't go because of a very important set of exams.
She just returned from Europe and is living with me until she can move into her apartment and start medical school. It turns out she spent literally all of her money during the trip and is now has almost $1,000 in credit card debt. She also has over $20,000 in student loan debt from undergrad and is planing to take out about $260,000 in medical student loan debt over the next four years of medical school.
I have 0 debt because my parents covered the cost of my undergraduate education, and because i am now in a PhD program where i am paid to go to school while working in a lab.
I don't make much money ($26,000) a year and I don't get income from any other sources. I am extremely frugal and take every opportunity to save, often to the chagrin of my girlfriend and sister.
Now that she has exhausted all of her liquid capitol she wants to borrow about $1,000 from me to cover her trip associated credit card debt until her medical school student loan disbursement hits in a couple of months. While she is living with me I have been covering all expenses food, housing, and everything else. Lending her $1,000 does not put stress on my finances but does majorly dent my savings. It probably takes me 5 or 6 months to save up $1,000. I am annoyed because I find it incredibly irresponsible to spend money you don't have on unnecessary luxury items (like vacations). This is something that I would NEVER do.
Is this just another drop in the bucket of a solid investment in a medical school education?
or
Is this an example of financial irresponsibility contributing to a mountain of debt that i should be seriously concerned about.
I obviously need to sit down with her and talk this all out. She reacts very poorly anytime I try to start this discussion.
Maybe instead of lending her the money I should offer to buy her car from her (and then just continue to let her use it). That way at least I get a title and legal ownership of something and she would not have any debt to repay. If she wishes in the future she could buy the car back... but I honestly don't care if she does or not. I just want to avoid any situation where i have to ask her for the money because i know that for the next four years she wont have any.
I am hoping you guys can give me some relationship/financial advice.
My girlfriend recently quit her solid (~55K per year) job to start medical school in the fall. She quit her job early to take her dream trip to Europe before she starts school.
I knew this trip was going to be expensive and frankly unnecessary 1 month vacation. However I found it difficult to directly voice this opinion because my family is quite wealthy and I have been to Europe many times before. Her family has been in a very difficult financial situation since she was a kid and she has never had an opportunity to travel. So i thought it was important to support her desire to travel. I couldn't go because of a very important set of exams.
She just returned from Europe and is living with me until she can move into her apartment and start medical school. It turns out she spent literally all of her money during the trip and is now has almost $1,000 in credit card debt. She also has over $20,000 in student loan debt from undergrad and is planing to take out about $260,000 in medical student loan debt over the next four years of medical school.
I have 0 debt because my parents covered the cost of my undergraduate education, and because i am now in a PhD program where i am paid to go to school while working in a lab.
I don't make much money ($26,000) a year and I don't get income from any other sources. I am extremely frugal and take every opportunity to save, often to the chagrin of my girlfriend and sister.
Now that she has exhausted all of her liquid capitol she wants to borrow about $1,000 from me to cover her trip associated credit card debt until her medical school student loan disbursement hits in a couple of months. While she is living with me I have been covering all expenses food, housing, and everything else. Lending her $1,000 does not put stress on my finances but does majorly dent my savings. It probably takes me 5 or 6 months to save up $1,000. I am annoyed because I find it incredibly irresponsible to spend money you don't have on unnecessary luxury items (like vacations). This is something that I would NEVER do.
Is this just another drop in the bucket of a solid investment in a medical school education?
or
Is this an example of financial irresponsibility contributing to a mountain of debt that i should be seriously concerned about.
I obviously need to sit down with her and talk this all out. She reacts very poorly anytime I try to start this discussion.
Maybe instead of lending her the money I should offer to buy her car from her (and then just continue to let her use it). That way at least I get a title and legal ownership of something and she would not have any debt to repay. If she wishes in the future she could buy the car back... but I honestly don't care if she does or not. I just want to avoid any situation where i have to ask her for the money because i know that for the next four years she wont have any.
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