I am getting a constant leak from what appears to be coming out from the stem (of the wheel) which is attached to the inside of the connecting 3 inch pipe then onto the water pipe.:( please help! difficult times lately, more like economic hard times have hit this single home owner, if I had the tools, I would try myself)

If you don't have tools I don't know how I can help, but it is probably the packing nut. Hopefully you can see it here on the image of a hosebibb I have put up. The packing nut is right behind the handle. You can try to tighten it, but if that doesn't work you will need to shut the water off and remove the nut and stem and put in new packing.

What darrell forgot to say was tighten that nut, just a little bit, maybe 1/8 turn. You will need an adjustable wrench.

You have three post going, delete the other two.

Simple repair! When the valve's,(see image) leaking past the stem take a wrench and snug up the bonnet packing nut until it stops.
CAREFUL! Do not overtighten if you do it will make the handle hard to turn. Good luck, Tom

Simple repair! When the valve's,(see image) leaking past the stem take a wrench and snug up the bonnet packing nut until it stops.
CAREFUL! Do not overtighten if you do it will make the handle hard to turn. Good luck, Tom

"thank you" for your help, (very good, colorful picture:) I was able to get my brotherinlaw to come and rescue me, he took the whole piece off the cold water pipe that it was attached to and went to the hardware store and picked up a whole new piece (cold water valve?) and screwed it back in to the cold water pipe and voilà! Back in business, I wanted to suggest something like you've said,but since he came from his busy schedule and all, figured it must be an inexpensive piece to replace, so just let him do what he knows best, thanks to everyone helping out, its just one less thing that I got to tackle, when your one person running a household, having a new roof put on, laid off after 28 yrs. And giving your damedest when you were there, I soooo much appreciate all you folks giving me a "headsUP" on this. Its great to have and free... something I totally can use and appreciate::))... from Georgia,Vermont... The Green Mtn. State