Last year was my worst in terms of financial management. I bought several stuff online, photography magazines, online subscriptions, mirrorless cameras and lenses, and a film camera and lots of films, until all of these expenses almost reached to PHP100,000.00! I thought I could handle it but I couldn’t until it reached to a point that I suffered from depression. My friends knew about it but most of them didn’t believe as they still see me with a positive outlook. But when I was alone, that’s where I could feel the world is crushing me to death. Lol!
It was really difficult to pay my debts; apart from the increasing late payment fees and interest charges, I was also living in an expensive studio-type unit near my workplace. And I even sold some of my cameras just to get out of the dark. I thought there was no way out... until I saw Security Bank’s Facebook post:
I immediately filled-out the online application form and submitted the necessary documents. After a few days, I received a notification that my application is approved! The maximum amount that I can transfer is PHP30,000.00 and I opted to pay for 6 months, so that’s PHP5,000.00 per month. I had the option to extend it up to 12 months but I thought I wouldn’t want to stay in debt for too long.
I actually have two credit cards already, but I didn’t enroll the other one because I planned to pay it in full when I received my 13th month pay, but I told to myself that I still want to enjoy some of my bonus, anyway the other card’s balance is enrolled to a 0% installment so I’m okay. I also transferred to a cheaper place and whatever I save would go to that credit card.
I learned my lesson the hardest way. And I hope anyone who’s experiencing the same would find solutions to end the misery.
Disclaimer: I am not commissioned by Security Bank to write this post.