Personally speaking, I never really like debt. No one would want to be in debt. I made it my rule never to be in-debt unless it is necessary and that I am sure I can pay for it.
Unlike most of the financially-rich spoiled brats I know, I was the not-so-monetarily-endowed. At a young age, I learned the value of being frugal. My parents never reward, nor pamper, us with money. My mother (who happens to be the budget manager) always tells us that if we want to buy something we like, we have to make it our own effort. No amount of tears, wails nor pleads would make my mom agree that she shoulder the expenses.
Value Learned...
At the age of 9, I was able to buy my very first (favorite) wallet with my own savings. My mom would give me 5 pesos (it was a paper bill at that time) for my snacks. Instead of spending this with food, I kept it inside a secret pocket and I would trick myself into believing I don't have the money.
During break time, instead of going to the canteen where lots of food were displayed (and where the bigger possibility of being tempted into spending), I stayed inside our classroom and talk with some of my classmates or just read books.
At the end of the week, I was able to accumulate around 25 pesos. With that amount, I then asked my mother to help me buy the wallet. It never occurred in my mind to be in-debt with my friends or classmates. Practically speaking, it would have been easier and faster purchasing that wallet, but thank goodness I didn't.
Value Empowered...
College life is the most challenging among the three levels of education. In college, there are a lot of expenses, name it and you can find it there -- not to mention the gimmicks and outings friends commonly organized.
It so happen that during this time, our family were experiencing financial crisis. Having just a small amount of allowance coupled with expenses for projects, I had to think of something that would satisfy both -- free my parents from the financial burden and keep up with my increasing personal needs.
I decided to sell "macaroons" (it's a very sweet mini-cup cake, but the main ingredient is coconut, see article "Coconut Tree: The Tree of Life") hoping this would aid my financial crisis. Selling macaroons don't earn that big, that is why I decided to apply as a Student Assistant -- these are students who work with pay inside the campus to assists faculties and co-students.
Juggling between my school activities, social life and money-making activities, I was able to survive college and at the same time helped my parents. It was tough, but it was worth the effort.
Yes, I was able to get in-debt with a thing or two, but I was able to repay them before I graduated out of college. I actually graduated, debt-free!
Value Lingered...
After much trying, I landed on a good job -- well-paid and related to my graduated course, see article "Five Reasons Why I Love My Work". Even when I am earning bucks, I can't seem to eradicate the frugality in me.
It still lingers.
With my first salary, I immediately opened my first bank savings account and then committed to set aside at least a thousand pesos per month. I never had any credit lines, not even now that I can afford it. It was just instilled in me that credits are no good. No offense, but that's me.
Proper budgeting and discipline are the keywords here. With my monthly pay, I made sure that necessities were dealt first than my wants that keep on piling. It is my means of satisfying both worlds without sacrificing too much and most importantly, being debt-free.
To help me further with managing my financial accounts, I read articles from MSN Money. These articles include "Your 5-minute Guide To Money In Your 20s" and "A Simpler Way to Save: The 60% Solution". It's really satisfying to know that I am doing a good job -- I believed I am in the right track.
Being debt-free depends from person to person. Since every person is unique with different kinds of priorities and lifestyles, my way of being debt-free might not be applicable to the person next to me. But one thing is for sure, we have to make sacrifices and choices to claim a debt-free lifestyle. I believe we do have choices, see article "It Is What Keeps Me Going". The best time to start living a debt-free life is now!
