My name is Timothy. I am married and have three children. Perhaps it is an old story and cliche, but it seemed to happen so fast.
I was always good with small amounts of money, and they say those that do well with little do well with much, but not in my case. I am 26 years old. My wife and I married young, when I was 19. Our three children, two girls and a boy, were each born in quick succession. We bought our first home less than a year after my son was born and all was looking good.
I had always heard it was cheaper to own a home than to rent, and running the numbers before purchase it seemed that way. Much like an ice burg is a house. You don’t find all the small things until a year or so later. Then you find out about the bills you’d forgotten to account for, the small problems you run in to, and you find yourself swiping the card more and more often to fix this and take care of that, until you are swiping it for bills and food and gas and diapers. At least this is what I found. I know I made some bad decisions that seemed good at the time. Like putting in a fence when we first moved in for the kids and dog, telling myself I would pay it come tax season, just a few short months away. But then the car broke down, and then the other car followed with issues of its own with the tires and brakes, and then the refrigerator went, and the oil heating turned out to be twice the price I had initially researched. The list could go on and on, with doctor bills for my children, dentist bills for a broken tooth for myself, a chiropractor bill for not being able to turn my head, and a physiatrist visit for my wife, whom we recently found out has manic-depression. The second year of home ownership and the next chapter of life has not been any easier. Debt continues to pile on.
I work as a welder. We make monkey cages for research facilities around the USA and occasional overseas facilities. It’s a strange line of work. I work on average 50 hours a week and have a two and a half hour round trip commute in order to afford owning a home. Yet even at these hours and the distance, I still only make enough to break even and we have begun to miss the minimum payments on the credit cards. The interest rates haven’t kicked in as yet, but I know we can’t make enough in time.
Our debt currently sits at 24,765.83. I have added a picture of the largest credit card we have. I would upload all to show, but they allow only one, or I do not know how to add more. I do not know what it will go up to if I fail to pay it off. Which I will on my own. I know that without help we will not be able to keep up with the payments and the payments on our home, which we will lose should we fall further behind and start missing those payments as well. So far we have not.
I have never been one to ask for help. I think I have too much pride. My wife tells me it is a fault. I know it to be true in many cases. But I need help. I took on too much that I didn’t understand. If it was just me, I’d take it, and pay it off for years. Sell everything. But I took on a commitment to my family as well. And I need to provide a home for them. I cannot do this burdened with debt, though I know it is my own, and I reap what I have sown. But, please, if anyone has read this far, please help me.