Hi there! Welcome to my personal confessions week 26. This week I wanted to share with you about debt, 3/4 of the country is in debt I for one I am in debt. Debt which if I was smarter 8 years ago I would not be in this mess and/or slowly crawling out. To make matters I was spending more than I was earning and every time I paid it off I still went back and used it up all over again, this is a vicious cycle which can drown you before your very own eyes.
One day I sat down with my mum and had one of them long African talks that you parents give you which come out as advice but are actually WARNINGS advice, lol. After that chat, I went and wrote down every company and person I owned money (boo excluded) and wrote down how much I earn and how much I can afford to pay each after all the essential bills like rent, transport, house bills etc are taken out.
After that I contacted each company and told them how much I could have to pay back monthly they were understanding because it was either that or nothing. I then calculated how much I owned to people I know then started paying back slowly but surely. It’s been 6 months and I am half way through paying back people (almost done) and companies, it feels good to actually go to work pay bills and have money left over for me to spend on my family and myself. One major thing that I did is changed banks, removed OD facility and canceled all credit cards and/or store cards.
So now if I don’t have it I don’t spend it that’s my new rule no more pay later high purchase kinda situation because I am done. I am enjoying our money after everything needed is out, I can go shop and save towards our goals without feeling guilty and stained with sleepless nights.
