Financial stress causing divorce thoughts
TL;DR: husband and I are financially incompatible - divorce? What, if anything, can help?!
My husband of 12 years really is terrible with money. I was pregnant with our oldest (we now have 3 boys ages 12, 10, and 6), and he didn’t open his mail. So, he got a wage garnishment due to not paying his student loans. It took half his monthly salary. And I was trapped at home with our babies living in a nice home but in a dilapidated rust belt town with limited resources, terrible childcare options, one car, and no ability to get a job. I stressed about getting groceries and diapers for our baby boys. It took him a year before he was able to get the garnishment stopped and somewhat under control. We worked through it and were eventually able to buy a house in that town and another car. We were able to get a couple of credit cards and actually had a nice chunk of money in our savings account. It felt great! We tried for a third and as soon as we found out we were pregnant again, the pandemic struck. Had our baby, who was and still is an absolute joy! Then 6 months later, when he was 41, we discovered that he had a large aortic aneurysm in his heart. He underwent open heart surgery. And then we decided we needed to move out of our home and the town we didn’t really love and so I could have more opportunities to get a well-paying job with health insurance in case something terrible happened with his health…so we moved out of state. It was hard. We couldn’t afford to buy a new home in the place we moved to. So we’re renting now and have been for 4 years. The move wasn’t fully reimbursed by his new job, so we put the expense for Pods on my credit card and used another one of my credit cards for other expenses - they were not joint credit card accounts - just in my name. And he had some other credit cards he was using too. The cost of living in our new area is about twice as much as our old town…and our boys are older now and want certain shoes and to participate in extra curricular activities. But, we cashed out his retirement account when we moved here in the thought that it would help us pay off our credit card debt ( it was about $27,000 after the fees that we had available to us). Unbeknownst to me, he did not disclose that on our taxes for that year (2022). So last year, we get hit with a $16,000 bill from the IRS and this year we got hit with a $6,000 bill from the state. So I stopped paying my two credit card bills that were in my name only so that I could get the tax lien off of our record. After about 3 months, the state tax lien was satisfied. So I made arrangements to start repaying my two credit cards minimum payments again. It turns out that one of them didn’t actually go into repayment despite the plan I made. And now I have a lawsuit from the credit card that is incredibly stressful. I’m writing a letter to the court and am calling their lawyer to try to make a minimum repayment plan. It makes me sick to my stomach. I had decent credit before marrying my husband. I’ve never had a lot of money but I always paid my bills and got an extra job if there was something I couldn’t afford but needed or wanted.
Since marrying this man, though, instead of my life getting easier and being able to afford more things and take our kids on vacations, I’m spending my free time haggling with creditors and “robbing Peter to pay Paul,” so to speak. I thought marriage was supposed to make life easier and better.
My husband and I were such good friends in undergrad, where we met. He was actually married then, but we were just friends - no interest. Then he moved for grad school and we lost touch for years. Reconnected on Facebook in 2011 and he was finalizing his divorce. We went on a roadtrip to California and definitely fell in love. It was a beautiful story. He told me he had been found medically incapable of having biological children while we were dating.
But I’m just wondering if I was bamboozled and should divorce this guy or in the very least separate our finances after getting these credit card and tax bills repaid?
TLDR: divorce my husband for our terrible financial situation?
Summary: need advice on if separate finances actually make sense or if divorce is the better option.