Next Small Step

Well, what do we do when we are eye brow high in debts only being able to pay the minimum and juggling between all accounts?

Well, I think I took another step. I took up a loan to pay off the 24% credit cards which were charging over $200 in interest every month. I took a 4 year loan such that I can be disciplined to pay off every month without fail. I also made sure it was another account where there is no monthly deductions from so that I will not be confused or mess up. My normal bank account has got too many deductions and sometimes I forget and mess up.

I think taking the responsibility and realising that there is no easy way out is at least a small step that I can make to make sure I see the light at the end of the road. Right now, I have cleared 2 cards with that amount I loaned and it sure feels good to see zeros in an account. That way I know that the bank is no longer able to make anymore money out of me! Hah! Take that!

Then I have a one month holiday before the loan takes off and that would ease another account as well. 4 months of interest and i am paying off one month's loan. If you do the math, it comes to be alot and I have heard friends who has been in this before and is still paying after 10 years!!

It's coming end of the year and I am ready to clear another card to lower all my acconts to interest under 18% and lower. I am making sure that I do not fall back into the same trap. Even though there will be relapses, but it will be under control. Because I cannot afford to take another loan for the next 4 years.

Also, by next year March, one of my loan will be over and it would be easier on me and I wouldn't be so tight. At least then I will have more to look forward to like holidays etc. Plus I guess my mum's new place will be coming and we will be moving which will need some money for furnitures etc. Which is something I need to save for.

I work in sales and from commissions to help me make more. With this economy, I still dont know if next year will be up or down. Which means my income could be lesser then the last two years. I am still at the 70K mark but at least it is getting lesser. With the loan, every month it will get lesser. And it is this little step we take.

Keep on going, I am sure I will make it there one day. My target is to clear within 3 years if I can. Hopefully we will get bonuses and that would help alot. And alot faster too.

We have to believe in ourselves to make things happen.