Thursday, December 3, 2009

A Lesson Learned

My financial situation hit bottom earlier last year, where credit cards were eating up a junk of my money every month. The more I was able to pay, the higher the balance got! I felt as if I was feeding a bottomless well, and it didn't make any differences whether I fed it or not.

Looking for a way to improve my situation, I enlisted the help of credit counseling to see if there was anything I could do to bring down the charges. After my session, I headed over to the debt consolidation services to bail me out of my predicament.



With the debt consolidation underway, I learned to track my spending, my income, put aside money for emergencies, making long term/short term projects, and managing my budget. Although I had always did all of these planning before, I never looked at my statements to make sure everything was correct. I trusted my creditors to bill me and to do the right things.

It was a good lesson learned to look over every charges on my statements, and to call for dispute right away if something was suspicious or not right. I am now carried no credit cards! If I want to buy something and I don't have the cash for it, then so be it! It feels good to be free from these plastic cards.




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4 comments:

  1. Icy, I have been this way for years. I only use my debit card which basically just debits my checking account when I use it to buy something. To be free of credit cards is a very big relief.

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  2. Credit card companies are legalized loan sharks!

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  3. Thanks for the information, Icy. I have never had that problem because I don't have a credit card, but I know what to do if I'm ever in that situation.

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  4. me and husband had to finance house renovation for his family so only recently we were able to finish off our debts, it really took a toll on us but now we're steering clear credits

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Pragmatic Soul
Beyond Wandering
Beyond Zephyr



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