I am glad I am not "swimming in a pool of debt" as Rhea Mocorro-Haguisan put it on her article from Dreams to Millions planner. I have three credit cards with only one being used often. The other two were randomly offered for a lifetime of free annual fees. I love anything free so I grabbed the opportunity, ha! I pay my cards in full every month and have never tried paying only the minimum because high interest rates scare me. I track my expenses very meticulously so I know when my credit monthly budget (which I impose on myself) is reached. That way, I can stop myself from swiping my life away. Ha!
I also have a loan from GSIS which I only started paying last year. Because the interest is low, I postponed my payments when I lost my job in 2016. Oh, by last year I meant 2017. I am still getting used to this new year. I used some of it to start investing in the stock market. I will be able to pay it fully by next year, for sure.
I am grateful that I was raised by parents with no crazy debts. Well, I have always known about loans because I often hear about it from my parents and I know how it helped them manage to take care of the family. However, they know how to pay their debts so well they have never been in any financial trouble that caused our future. I have heard stories of children paying their parents' debts and I am grateful for my parents for not putting that kind of burden to us, their children.
My view on loans: There are good debts and bad debts and I now know the difference. I made financial mistakes in the past and I vow to be better everyday. Thank you, God for the wisdom.
P.S. Always in deep thoughts whenever, wherever. :D
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