Long story short, we have found ourselves with an innumerable amount of debt.
I am a teacher and my fiancé’ is a nurse. My fiancé was able to use Covid relief money to finish nursing school without student loans. It also allowed us to replace a few major appliances that went out.
However, everyday life with 3 three beautiful children has put us into uncontrollable debt. My fiancé is now in over $12,000 in credit card debt and I about $28,000. How could this happen, you ask? Inflation. Daycare. Gas. Living. Over the past 2 years my fiancé’ has spent about $8,000 on car repairs, while still having a car note. He tried to sell/trade it in, but still wouldn’t be able to afford a new car with the extremely high leases right now. We are praying his car lasts until he is done paying it off. Our middle school son plays travel baseball and wrestling as well. We would hate to have to pull him from his sports activities because of our financial challenges; as he is a great kid with impeccable grades. We are blessed enough to have an extremely supportive family, but there is only so much they can do, while maintaining their own households.
The way this website was stumbled upon was because I searched high and low for ways to earn extra money. From Uber to InstaCart, tutoring, playing online games like solitaire. My fiancé picks up extra shifts when they become available. Every way we can earn money or save money, we do. To pay for day-to-day things we are using credit cards. Gas, groceries, when our son needed school clothes, diapers. When my students need snacks, or when I must refill my reward bucket. Credit cards. Our cash goes to our mortgage, daycare, car notes, car insurance, and phone bills.
My fiancé’ has a smaller amount of debt because he has always been financially frugal. So, to watch him have anxiety and stress during this time already with a stressful job is really taking a toll on our family’s well-being.
Our emergency fund is now nonexistent. We have about $1,000 in cash in our drawer and our son with about $700 in his savings account from gifts over the years. Our 2 youngest have the minimum, which is $25.00, to keep their accounts open. At this rate we have no idea when we will get out of this debt. I am thankful that my student loans are on hold because I don’t know how I would be able to afford them. I literally have about $2,000 available credit left combined with my husband having $3,000. We need help and anything will help, and we would be so ever appreciative.