December 3rd, 2006 12:51 pm
Pressure is Increasing and Marriage
(Note, I deleted the duplicate post and unfortunately some of the comments were lost, I also updated this post to explain the situation further. And yes, I broke my own rule and posted on a Sunday. I need to work on my discipline. )
We had to borrow 4K to pay basic bills including my wife’s minimum credit card payments which jumped from 1,000 to 2,500 because of late fees and going over credit limit.
The thought of relief via bankruptcy has been on my mind lately. However, she will not let me ruin her credit. I promised her at the beginning that no matter what happens I will save her credit. That was the only way she would let me use her credit cards for real estate deals. She is right. I must keep my promises.
She asked me if I have a plan. The base salary with Chris is not enough. She is saying that almost three years of marriage on a financial roller-coaster is getting old.
[ Added for clarity: My entrepreneur adventures are putting a big strain on our relationship. Even though she has been very supportive through all of this, everybody has a limit.
You see, I unintentionally gave her the impression that I was successful when we were dating (I still had some money left from from my first condo flip).
Later, right before the wedding, she found out that I was really “broke as a joke”. I even bought the ring on a credit card and went into debt for the marriage expenses. She came into the relationship with no debt and excellent credit expecting stability and married into a financial storm without really knowing it.
She also expected for me to pay for college so she can finish her 4-year degree. Her parents were paying for it before but stopped as soon as she got married. I told her not to worry about it. I have it under control.
I’ve set some high expectations. No wonder she is feeling disappointed. I owe it to her to make it right. ]
So, I told her that I am not sure if I have a plan (that didn’t go over well.) There are several possibilities but nothing solid yet. I can make some commission but that hasn’t happened yet. I can do some wholesaling but that hasn’t happened yet either. I can look for a higher paying job (using my web design / programming background) but that’s not going to pay the CC minimums either unless we wipe out the debt via bankruptcy.
She is starting a job in January helping prepare people’s taxes but it doesn’t pay much since she has no education. It’s more to build experience.
I must make serious money quickly somehow. That should probably be more of a priority to me right now than trying to sell houses.
I feel like I am in a slow pressure cooker and the temperature is increasing.