For years , I have been burdened with debts. Having children and raising them only with your monthly income here in the Philippines is very hard to do. It is a must to have side lines or extra work to make both ends meet.
Every night, we prayed for blessings to come and graces to fall down from heaven. We try so hard to do every little thing we could to earn a living or add to our monthly salaries. We end up having debts up to our neck and seeking more assistance to pay the first loan we took. Borrowing from B just to pay off A makes me seek for C in order to pay off B. This is a vicious cycle that most people go through.
Solution to end this routine if not alleviate the burden:
- List down all your monthly expenses. ( bills, food, kid's allowances and other necessary expenses.
- Next, list down the extra expenses you have (mobile phone credits, Friday night escapades etc )
- Cross out the things you spend for that you can live without.
- Encircle the things you spend for that you cannot live without.
- Make a menu that is enough for everybody and avoid having extras just to be thrown out.
This year I recycled my children's old clothes. Did a little sewing here and there . The plain shirts , I decorated with patches for my boys and beads for my girls. I made sure to recycle food as well. Left-over poultry dish or meat are cut into shreds to be mixed with mayonnaise for a great tasting sandwich which they bring to school. I was even able to come up with my own Tom Yum soup which comprises of water,tomatoes,onions,celery,few shrimps and a few pork cubes plus noodles. This is a favorite at our house. Very tasty and satisfying . Be imaginative with your daily dishes without spending much and yet still serve good and nutritious food.
Each month, allot 10% of your salary for your saving and divide 40% among your loans. The 50% may be used for paying your bills. Eventually , you will be surprised with how much you have been saving and realize later on that you are almost done with your debts without even seeking for D to pay off C.
I hope that my simple little tips will help you... God Bless...
