Almost debt free

And just like that we are already at the last month of the year. Now that it is December, I cannot help but to look back on the past 12 months though I will save that towards the end of 2021.

What I want to share with you today is that I am already on the 24th month of my installment with my credit card. I have already shared it before that my cards have reached the maximum limit because I was only paying the minimum balance a year after I have resigned. That even if I have already resigned, I was still using my card thinking that I will be able to get a job. However, things did not go as planned because we had a lot of gatherings and out of town trips that I prioritized it more than looking for a job.

So when I have already maxed out my cards, I could not use them aymore and that was the start of me getting sink into the pool of debts. Paying only the minimum balance would only lessen a few bucks that sometimes I could not feel that there was some changes with it.

When my credit limit was increased 2 years ago, I was able to apply for a balance conversion. I inquired about that when my card was maxed out but they adviced me to pay at least Php20,000 (around $400) so that it could free up my balance because if you decided to convert your balance, it also has an interest but at a much lower rate. I love mathematics but if it is about percentage, I get lost sometimes. LOL. I think the interest rate for balance conversion was less than 2%.

And now that I am at the 24th month, I am proud to say that I will be able to be free from credit card debt. Not totally because I paid for my phone with credit card under 12 months installment. If only my phone did not give up on me then I can really say that I am living a debt free life.

This is the article that @Jeaneth, @bbghitte, @Firenze and I have been waiting for. The article of me sharing about that being debt free. I am just so happy because finally I can now start hodling my BCH. I can also start saving every month. Actually I tried doing that early this year by putting in Php200 (around $4) in each of my savings account although I stopped because I do not have extra for it anymore. Sometimes my earnings each month was not enough for my monthly payables but as bbghitte always says it to me and Firenze, "God will provide". Indeed, God really provides just before my due date.

When I had my credit card balance converted, I needed to pay the monthly installment in full. I do not know what will happen if I don't pay it on time and in full but I am pretty sure that there are penalties. But now I do not need to worry about my big monthly payable. If you think that my debt is around $100 then you are wrong because it is more than that. Well December is not yet over so I still have to reach my desired amount. Nevertheless, I am still happy because after this month, I will be able to enjoy my earnings for whatever I want. I have already learned my lesson so no more overspending.

Ooopps. Honestly, I want to scratch what I just said. LOL. Because I know that I would be over with my credit card debt by the end of the year, I had this strong urge of buying some things that we need. Need?! Well I guess we do need some of it. I mentioned in my previous articles that my mom, our helper and I have been to the mall last Saturday and Monday and we did some shopping. I guess you would know what happened next. Swipe, swipe, swipe, swipe, swipe, swipe, swipe. Oh no! I cannot count how many times I have swiped my cards but I have already computed how much I have spent and it is not good. LOL. But whenever I see and hear how happy my mom was, I would not mind if I would spend some more. *I am in tears when I typed the last sentence.* My mom said that we have been deprived of shopping the past few years not only because it was pandemic but even before that as I could not use my card because of financial problems. I do not even know where to get the money for my monthly expenses then and what right do I have to do some shopping right? Anyway, for the mean time let us not talk about that 2 day shopping. LOL. I will just try to work hard for it but I am so happy that I was able to make my mom's Christmas so merry and bright. I know that she is very puzzled as to where I get the money. Because of that 2 day shopping, I heard her yesterday saying that there is something that she needs to buy again. I acted like I did not hear anything. LOL. Then this afternoon I told her that we will do another shopping next year. She said January. I immediately said, "NO". LOL.

So now you know why I am "almost" debt free. LOL. If you are also swimming in a pool of debts, do not worry because you will be able to get out of it soon just like me.

P.S. lead image is a screenshot when I paid one of my credit cards last month.