What have you done to get out of debt?
By earth2jacq
@earth2jacq (1502)
Philippines
October 30, 2009 8:20pm CST
A couple of years ago I maximized my card limit. I was not knowledgeable in budgeting money at that time since I just got my first job. The feeling of being in debt is horrible. Almost all my pay goes to the payment of my credit card. What I did was to get a salary loan from a bank and paid off my credit card debt in full. Then I just pay the uniform monthly amortization of that bank loan and in 3 years' time I was able to be debt free. Ofcourse this taught me to manage my money and I promised that I will never repeat maxing out my card again.
2 responses
@ronz_27 (123)
• Philippines
31 Oct 09
Yes I also engage of debt. But not totally a big amount of debt. What I've done is minimize my expenses so that i can pay my debt. I have a loan from the bank for about two years but its not a problem because the loan that i engage is fruitful in return. I will not promise of not to engage debt again. It depends upon the situation that i faced in the future.
1 person likes this
@earth2jacq (1502)
• Philippines
31 Oct 09
Agreed with you that I cannot totally promise to not incur debt since it cannot be avoided. But what I can do is monitor my spending habits.
@randylovesdar (4932)
• United States
31 Oct 09
I know the feeling about being in debt. I too was in debt. I know that my husband and I are struggling financially. My husband's hours have been cut back drastically to the point where we never know one day from the next if we have enough money for the basics. I try to make a little extra money by doing a few surveys and being on here.
