Week 57: Personal Confessions ~ debt is no small matter 5

  Hi there and welcome to the final personal confessions post on money matters for 2014, I can not seriously remember when I last shared an update on the ‘debt is no small issue’ posts but nonetheless here is the last post of 2014 on this issue and you can read the beginning of my journey below.
“debt is no small matter 
  1. Debt is no small issue part 1
  2. Debt is no small issue part 2
  3. Debit is no small issue part 3
  4. Debt is no small issue part 4

In my last update I gave you an idea of what I was still owing and the plan for next year. I am so excited to be able to finish of paying all my debt and be debt-free so I can enjoy the money that the Lord helps me to make without the ache of having to shave a chunk to pay off debts which are not even normal bills. My advice to students starting out or already started is simple.

I have always had the wise knowledge about money but my will unfortunately has not been as strong hence sending myself into this debt which if I am honest and lived the way I did back home I would be enjoying what I am earning now without a care in the world. But life is full of learns and consider me ‘lesson received loud and clear and learnt’. I know it is not easy to stay debt free especially with mortgages, student loans, car loans but some of these are avoidable like credit card bills, store card bills, loan shark bills etc.

They are very attractive there and then but they are nothing more like bottomless pits. I had a lot of small loans because the bank wouldn’t lend me due to my then bad credit history these little loans cost repayment so much that I think that’s the reason I’ve stayed in debt longer because all my big bank loans I have cleared with years to spare. Earlier this month I found out that one of the companie I had a small loan from had actually been asked by the courts to return all the money to it’s debtors, they took their sweet time to inform their clients about it and I had been re-paying since beginning of this year, I am due to catch someone from there to ask about the refund. I also found out that the big loans from the bank also been charging me PPI and I am entitled to a refund, I do not know how much it is but will be great if it’s enough to clear the small debt I have now.

I know most people do not really like discussing their financial situation which is fine but I think if you discuss it with your dearest and nearest it’s fine at least all are on same page. 

I am wishing you and your family a MERRY CHRISTMAS and HAPPY START TO THE NEW YEAR.

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