recovering from loans…

Posted on November 14, 2007

About a year after I started working, I got my first credit card. I know what people say about credit cards but I was a wise spender. I would use my credit card only if I know I can pay for all my purchases once my statement arrives, thus being able to save myself from their finance charges. Soon afterwards, one credit card grew to five! My spending power increased dramatically, I was able to get 0% installment deals because my credit limit can accomodate it.

Before the wedding however, Ramil and I found ourselves spending more than what we can pay for. We were using a total of four cards (three were mine, one was his) and we couldn’t pay for all of our purchases. Hehe! One of our primary goals now is to get ourselves back on track. We took out loans to pay for our credit card balances so that we could get away from credit card companies’ high interest rates. Nowadays, several companies offer a variety of loans. There are such things as secured loans and personal loans. So now Ramil and I are not using any of our cards and paying off our debts. Hehe!Hopefully, we will be debt-free in a year or two!