Its really an irony for me to speak against credit cards, for I myself is a promoter or shall I say a seller of it. But sadly and really not proud to say that I, at 23 years of age, became a victim of it.
Maybe credit card shouldn't really be blamed. As a person who sells credit cards, I am well aware of the features and benefits as well as the repercussion of having one and the temptation that one feels in possessing such. Don't get me wrong okay, I don't hate what I do, but it feels guilty every time I hear someone being in debt because of that silly electronic card!
What I'm really trying to point out here is to blame it in the person who uses the card. THE CARDHOLDER, as the company calls it, and not on the silly card. Okay, I'm really arguing with myself right now..
Well, I'm 23 and single.. it doesn't really justify me to be in debt. I don't rent and I live with my parents. Meaning, I don't have any financial responsibility at home. So why is this happening? Why did it happen?
Ok, I'm gonna be honest and I just realized this very recently. When I started working, it did not come in mind that there is a need to save, this I mean is putting a part of your salary to a savings account and not really thinking of using it soon. But instead I usually buy something or splurge it somewhere. The idea of saving never really came in mind, as I have said. Then after a while, I started to own a credit card, one.. two then it became three.. I started to buy gadgets-on an installment basis, so why worry its at 0% interest payable for 12 months right? I started to buy clothes that are quite expensive, and thinking that I can pay it later on. I started using it for buying tickets when I travel, and even allow friends to ride in my card.
you're getting the picture now?
So there...the bills came, ALL AT THE SAME TIME. but then my paycheck isn't up yet. so where do I get the money to pay? This is where the problem started to arise, I started to be a revolver. In credit card terms, its when you only pay the minimum amount due and not the whole amount. This is where the credit card company started to charge you with interest, which is 3.5%. It was really a lot for me, since may salary isn't that good for me to compensate everything I owe and to add the fact that I still have to live daily, meaning I still have to spend for my transpo going to work, for my client calls, for my after office hang outs and my weekend out of towns and other expenses.
How did I get by?
Well, I was really in denial at first. I never imagined that it would be that bad. I was even thinking that I can pay it off with the commission I earn and I even had a loan, but it did not suffice. Then one day, my Mom discovered everything. It was really hard, one of my frustrations is disappointing my parents, and so I did. And of course, they got mad! so mad! But we can't waste any time..So we planned everything, and she had to pay it off. I had no choice. and she even asked me to write every expenses I make-EVERYDAY. Honestly, it was really hard for me to budget and I even had to cut off my night outs for me to survive.
Well, right now my cards are still not cleared. but soon it will. Promise!
Lesson learned?
best lessons are learned the hardest way. very true..
...I will NOT and DO NOT REALLY condemn credit cards if that's what you are thinking (not in my dreams, i might loose my job if I do)
...But I will start the change within myself, after paying off everything.. I will really SAVE. not because I want to buy something but because someday I might need it.. for the rainy days. (now I literally know what rainy days mean)
...I will live within my means.
....lastly, I will learn how to budget. I feel that financial responsibility starts by budgeting.
so for those who are planing to have a credit card- know everything about it. be smart in using it.. for those who are into gadgets and stuff- think twice, live within you means.. for those who are starting to be in debt- budget and cut off other expenses..for those who are debt free- congrats! good job..don't let this happen to you! :)
I know this WILL NOT be easy.. But I HAVE FAITH that I will be able to do it. and I really thank my mom for teaching me the best lesson and for paying off everything! I love you mom :)
