My girlfriend has CAD 45,000 in debt and I have zero debt – how to start a life together?


My girlfriend has CAD 45,000 in debt and I have zero debt – how to start a life together?

The question

That’s the huge question. We’ve been dating for nearly 18 months. Currently on a long distance link (450km apart). She has an average of CAD 45,000 in debt (student loan, car loan). And she is pretty much living pay check after pay check. Has no money do to anything else. But she has a nice provincial job.
I have zero debt, around CAD20,000 in savings, a federal job and I am planing to save around CAD12,000 per year in the next two years for a down payment in a house.
At the current pace, it would take her an average of 3 years (if not more) to be debt free. Then she would be able to start saving money.
Should I pursue this link or should I find someone who is in the same page financially? We’ve been talking about moving in together in the same city I live, but this means a lot of sacrifices. We can’t even go to a concert because she has no money left. And it will always be like that. So no house before 2013 (or 2014) best case scenario.
I really need some serious advice. Thanks!

Best answers:

how to get a stafford loan

It comes down to what you want more – money and a convenient life, or her. If you’re as concerned about the financial implications as you sound, then it seems you care more about the money than you do about her. If that’s the case, then moving in together would be a huge mistake for the both of you, if you want a proper, loving, long-term link. But, if you really reckon she’s worth it, then go for it. At any road, it may be an thought to look up some free advice lines or the likes which could help her manage her debt and finances, or even see what you could do to help yourself.

To get a student loan for off-campus housing, a private loan is required, as federal loans only go towards tuition and fees. Get a private loan, a part-time job or private grants for off-campus housing aid with financial advice from a guidance counselor in this free video on student loans. Expert: Cheri Ashwood Contact: www.wearehdtv.com Bio: Cheri Ashwood has a bachelor’s degree in psychology and education, and has been a guidance counselor for nearly a decade. Filmmaker: Christopher Rokosz

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