Part 6 - getting married

This is a series of articles labelled from #1 to #9 which chronicles how I went from being a fanatical young saver to a pathetic spender, and then finally paving the way for financial success.

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In the Part #5: Disaster Strikes, I reviewed how disaster struck to and plunged me deeper and deeper into debt, I was servicing my debt by taking out more debt, I guess I deluded myself into believing I could keep on taking out credit cards and worry about them later, most of these credit cards had introductory offers that were coming to an end and the rising interest payments were sneaking up on me.

After working for a few years I met a wonderful person who was later to become my wife, she became really special in my life and I started spending more and more money to finance a false lifestyle, after getting to know each other we really believed that we were right for each other and decided to tie the knot, I did speak to my now wife about my debt but we were so in love that we decided to take out a loan and worry about the payments later.

Taking out the loan was the final straw I guess, I could now no longer meet the minimum payments and the credit crunch began to bite and many cards were just refusing to offer me credit, the credit cards that I had introductory offers on were coming to an end and all the minimum payments were rising, as a newly married couple we could not have got off to a worse start and I really felt sorry for my wife who played no part in my downfall.

Soon after we were blessed with an adorable baby boy and I was reduced to borrowing money from friends and family to keep afloat, I remember being worried but putting on a brave face knowing that everything was about to crash down on me, I was on the verge of bankruptcy, my home was secured on the personal loan so I was even at risk of losing my house and being homeless just a year after getting married and months after having a child. As a grown man I’m ashamed to say that I cried myself to sleep some nights and dreaded waking up to the barrage of endless bills, I eventually just gave up and but all the letters in a shoe box hoping it would just disappear.

I wanted to sort my life out but I did not want to confront my wife with the problems I had created, my wife wanted to talk about the problems but I would always find ways to avoid it. The final nail in the coffin came when I went out shopping for the weekly grocery and my credit card was referred, it was one of the most embarrassing moments ever, I remember just leaving the shopping explaining that I would return, deep down I knew everything was over and credit cards were beginning to cancel my cards for failing to make payments.

I was in hell, absolute financial despair, I was melting down and taking my family down with me, in Part #7: Absolute Financial Despair, I review the hell I experienced from being in financial despair.

Full Series Index

#1: Great Early Saver

#2: Having Money Taken Away From Me

#3: Seeing My Family Experience Poverty

#4: Spending to Keep Up

#5: Disaster Strikes

#6: Getting Married

#7: Absolute Financial Despair

#8: Facing Up to my Problems

#9: Laying the Foundation for Success