Aiming for Financial Freedom

May 28 2021

I have been drafting an article last night for read.cash but I saw this challenge as I was being tagged by our friend May Ann @firenze to join when I logged in at read.cash.

The challenge is Writing Prompt #1 : Freedom by @JonicaBradley.

The rules are simple:

>  Write about Freedom

>  Write 100% original content

>  Write at least 600 words

>  Tag JonicaBradley

>  And Have Fun

Hearing about freedom, what instantly came to mind is Financial Freedom.

But before I started to write my article, I first read @firenze and @babyblacksheep to see what they have to say. It looks like we have the same sentiments, to be FINANCIALLY FREE! To be DEBT FREE from credit cards.

Credit cards are the culprit! But is it really?

Credit cards can be beneficial if we put it to good use. It helps us in times of emergencies especially on hospital expenses. But if we use it irresponsibly then we end up in debt.

And that is what happened to me. I can’t say that credit card is the root of my being imprisoned with debt as it helped me provide for my family.

And here, the story starts on how I am wishing now to be debt free.

My husband is a seaman. I am also working at the same time. I have no credit card at that time.

My having a lot of debt started when my husband stopped being a seaman, we have three kids and a fourth is on the way. This is because his brother-in-law has been telling him to start his own business and that is a wrought iron business. At first the business was booming. We have almost 20 employees. We supplied to big corporations who exports wrought iron accessories and furniture. But then came the American crisis. Exports business slowed down. Until we didn’t receive any orders at all. We have to let go of our people, we have to close shop.

This is the time that credit card was so helpful. It has feed my family for more than 5 years until my husband decided to go back to being a seaman. Can you imagine the debt that is piling up? I have 6 credit cards in all. My own take home pay is just enough to pay the minimum payment that the credit cards required.

When my husband decided to go back to work as a seaman, all his credentials has expired. His passport, his seaman’s book and other requirements has to be renewed. I have to shell out from my own pocket to have all these renewed and that means skipping credit card payment or paying lesser than the minimum dues.

Interests and penalties are piling up on top of my personal credit card debts.

Good thing though is that my husband is a good person and he has a good reputation in his previous employment, that when he applied back, he was immediately given a placement. But it was first in a lower position than what his license is.

From then on he slowly rose up the rank and is now a chief engineer. I also am slowly repaying my credit card debts and has fully paid some and have it cut or deactivated them.

It really took a long time to pay off these debts as there are also priorities to be paid in cash, like the school tuition. All four of them were all already attending school.

I stopped using the credit cards now and is just paying them. Another one is about to end next month and I will be closing that as well. Then I will have only 2 cards left.

Soon, I will have the financial freedom that I aim for.

For now, on top of paying my debts, I opened a savings account in another bank, one that has no ATM so that I cannot easily withdraw them. Every payday, I transferred Php 1,000.00 to this account. This will be my road to being a millionaire, 😁 on top of my earnings from read.cash and noise.cash which I haven't touch at all except to trade in BCH.

Thanks for dropping by.

Tagging @Hanzell @zolabundance2 @Zeshan3333 @charmingcherry08 care to join?

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Lead image by Unsplash.