My wife and I have been together for more than 32+ years at this writing. We have raised two kids and paid for their college up to the time they decided that college was not for them.
The kids were young and a housing boom was going on in the early 2000s.
We, my wife and I, borrowed money from a bank to make an addition to our home. As mentioned the kids were pretty young at that time and we needed the extra room. We paid other additional bills at the time also and all was well! Over time with the children’s extra activities we, like most parents, decided we were not going to let our children grow and leave home saying “If only I had this and that as a child I could be doing this right now”! Please do NOT think we spoiled them, we do NOT, but thinking of the way my wife and I grew up, and complained in our teen years, we were going to make sure our children could not say that we did not try, with interest, in their activities! The activities, I speak of is athletics and film opportunities that are introduced to you in high school. So, we indulged to the nth degree in these activities meaning we spent alot of money for plane tickets and hotels along with other equipment our kids were participating within. We were able to pay our bills, as of yet, but just barely and many months it was only the minimum payments. Now, all kids are out of school and out of college (neither kid has a degree), my wife and I now now live alone and are quickly reaching retirement status. I cannot do heavy lifting anymore due to age (mostly) and a medical handicap. Our extra room, received from a loan, has not gone down much due to interest rate hikes! This is what I need help on, this one bill. It cost 300.00 just for the interest at this time. To pay it fully it will be $84,000.00. If nothing else, I ask assistance to help getting it where the interest rates are lower and can be paid with out paychecks. Yes, we are on a budget but as mentioned before I need just a little help…. Thank you much!