My younger brother (22) and his wife bought a house a few years ago for way too much money—at least according to me and my parents. They never even calculated their bills before locking themselves into a $2,000 mortgage. His attitude was always, “It’ll be fine.”
Right after that, they financed two $20k trucks, plus full coverage insurance. The problem? His job is seasonal, and he doesn’t pick up work in the winter. Eventually, they were about to lose the house and ended up begging our grandparents for $7,000. The deal was weekly repayments, but in six months they’ve only made one payment of $200.
Now he just told me he bought a camper—for $2,000—at the end of summer, while still owing my grandparents and facing another winter without steady work. On top of that, they’re trying to have a baby with fertility treatments.
