Personal Finance

I have had sevearl failures on personal finance for a very long time. I got into huge debts without knwoing. Or maybe I knew, but it didnt occur to me that I would be facing a huge financial crisis in the future.

I had a normal life, though struggling but it was OK because I lived within my means. I had no debts. I was staying with my parents, so basically, the little salary I earned was channeled towards savings, helping my siblings and buying clothes.

Actually, I have not bought a single decent clothe ever since I moved out, reason, I am in debts and really struggling to get out of them.I have devised a way of paying them off little by little and after three months of sticking to my plan, I can testify that it is working.

How does someone find themselves in so much debt? Well, it all starts really slowly and by the time you realize it, you start borrowing from one source to pay the other. That is the situation I found myself in. I started borrowing from friends from $1 over a long period of time.

I wasn't paying any of them back. I was working yes, but I didn't even think of setting aside some of the money to pay back. Within a period of 5 years, I had accumulated a debt of more than $5000.
Depression kicked in. How was I going to pay all of them off? Remember, till few months ago, I was unemployed.

Some of the debts that I had accumulated were way back before I even met my husband but I kept carrying them forward. Others I accumulated few years into the marriage and I didnt tell my husband. According to me, I kept telling myself that I will pay them back somehow, but I didn't know how.

It is important to always keep records. I love writing and I always stay with a pen and paper in hand because anything that comes to my mind, I note it down. That is what the biggest entrepreneurs do so I believe that I will fall in that category very soon 😉



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