Hello, my name is Fred. I want to share my story and hopefully get some much needed assistance. I also want to help others avoid my mistakes.
I grew up on the low side of middle class in a small town of about 8000. We never went without but really didn’t have much extra. I never learned how to manage money because there wasn’t much to manage.
In 2019 I was given a terminal medical diagnosis. My diagnosis was determined to be directly related to my military service and as a result I began to receive compensation benefits.
My wife and I decided we wanted to travel while I still could. We left our duplex and purchased a camper and we were off.
The problems soon began due to my lack of financial education. You see, my compensation checks were more than anyone I personally knew made at their jobs. I felt wealthy. I was not. I began to spend and the I began to build debt. Soon enough the monthly obligations for the items I had purchased took all of the check.
The first month this happened we paid the bills then were left with no food or gas money.
Not knowing what else to do I went to a pawn shop and sold a rifle. The problem was it happened again next month and the next.
I soon ran out of things to sell. Again not knowing what to do I took a short term cash loan at a very high interest rate. By this time Peter had nothing left to pay Paul and we began to lose things.
I was determined to dig out and began educating myself in personal finance.
As I write this today I understand the mistakes I made and how money works. However I am so far in the hole with high interest loans. I can see daylight. I have nothing of monetary value left to sell.
I am seeking $15175 to pay off the high interest loans.
I have other debt but if I could just get the high interest loans paid off I could meet my obligations with no problems and beging to properly invest and provide for my wife’s future.