Wednesday, October 15, 2008

Need Help on Debt Consolidation

It's payday once again. Sadly, for many, their net pay is not enough to cover everything that needs to be paid. The prices of basic commodities have been rising and there are still various bills to be taken care of.

In our case, we honestly are feeling the economic crunch and had been more conscious in trying to avoid any unnecessary expense. This means limiting our dining out and staying away from the malls (there are I think at least 3 big malls on a 3-day sale this weekend!). We also are now more careful in budget planning. On top of that, my husband and I already made a pact some days ago to use our forthcoming Christmas bonus and 13th month pay to zero out most of our existing credit card balances (of course, after we have settled the annual payment for Zoe's college educational plan due this December). Actually, just thinking of the huge interest rates these credit cards are charging makes me want to scream! I often ask myself, "How did I get myself into this big mess? Is this all my fault? Vina, when will you ever be able to clear your debt when there are just too many expenses at hand?"

But there's still hope I guess. First, I still need to be thankful for our present jobs for bringing food to the table. Compared to those without jobs or those without food to eat, right? As long as we are both employed, we can see through the end of the tunnel. Actually, I also have been contemplating on getting a non profit debt consolidation loan to end this vicious cycle of debts once and for all. One of the more practical solutions available nowadays, debt consolidation can be a great aid in paying for existing loans and revolving credit card debts that seem to be never-ending.

3 insights:

Anonymous said...

An indepth analysis. I liked it!

Vina said...

thank you robert! i appreciate the comment!

Anonymous said...

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