Unforeseen circumstances fill the void in our lives, which is quite a mystery and adventure, though all human beings will encounter life struggles that leave us miserable.
Anybody has to face it to resolve the issues, which include pain, disagreements, and financial matters.
Let me share with you my personal financial story:
It started in February 2023. My partner and I have a profound misunderstanding, which includes a third-party woman. After a few days, he did not give me his pay and payslip. I slid it off and waited, but no money came.
March came, and I asked for money. He gave me the amount that I asked for. I paid the bills and debts right away. On the other hand, he bought food and celebrated his son's birthday. It was okay for me.
In April, I asked again, but he turned me down. He told me that he had given me money last time. So, I answered him, "These are monthly bills, and it is our responsibility to pay. He does not listen and is stubborn.
Unfortunately, I have no earnings from my online gigs at that time. I goad my partner to foot the bills and debts if he does not want to give me money. I can give him the lists.
Now, I am starting to feel stress and worry. The lending agents are calling me, asking me why and when. I wish I knew the answer because I no longer have the money. I know it is their job to call us the payors. The agents' daily calls irritate and annoy me with the same question.
What worries me the most is my credit line. Not paying the credit on time is bad for my credit line, which lowers my credit score.
As a result, all my worries and fears happened! The Meralco cut the electrical power. An Internet provider disconnects our Internet. Also, the apartment was unpaid for three months. I'm afraid we might (be) living on the streets if we cannot pay the rent.
"Thankfully, God intervened."
The company assigned him to Teresa - Rizal. It was the month of June, and I got and held his salary. Even if his salary is in my hands, I cannot pay all the bills and unwritten debts in one go. It is not sufficient to pay them all.
1.) Managed Your Emotions
You can imagine the emotions that are boiling within me. If you want to clear the air, control it yourself. There is no other who can except you. Relax, take a deep breath and exhale. Did you smile? I was smiling when I wrote it, too. Lastly, be aware of yourself.
2.) Write all your bills and debts by category in a notebook or whatever you have to write on. What did I do? I write, for example, a page for the amount of the Apartment Rental each month. So I will know all our debts and bills that were unpaid.
3.) Use calculator.me
We are now in the online world. Aside from my notebook, I prefer to do my calculations online. They have a wide variety of calculators that you might find helpful. For me, I choose the Family Budget Planner or Family Budget Calculator. My financial situation calls for it. I will create a budget for debts, bills, food, and transportation fees or my sons' fare in going to school.
4.) Sequential Payments: One Step at a Time
I received his salary twice a month. But I cannot pay all the bills and debts simultaneously. I did it one step at a time. So, I picked up the bill for electricity. It is one of the primary bills to pay every month. It is also the major or top-notch bill to pay.
For the next salary, are the Internet bills to pay, and apartment rent. Lastly is the grocery store payment. It is where we get our food in cans, noodles, and laundry needs. Whenever I've done paying, I write the date and amount paid in my notebook.
5) Save, save, and save money
After paying the bills in large amounts, you may now start saving. The savings are for you and your family. I cannot advise you in percentage because it depends on the salary you'll receive. You can save money available, like $10 or $15 every payday.
6) Prepare yourself emotionally and psychologically
Supposedly, I will write this on top. But the explanation differs. When you go through this financial situation, some people are happy that you experience this difficult time. Some people think we couldn't pay, and that's why it happened to us.
Like us, when we have no electricity, I asked a couple who lived next door to allow us (me and my son) to use their light with an extension wire. The valuable thing for me is the electric fan because of the mosquitoes during night time. Besides, I will pay them once they have the electrical bill. They agreed. But another neighbor told them or asked them why they were helping us. I do not know the reason. They answered, "What if it happened to us? We need help, also."
If you are going through a difficult financial situation, try to manage your emotions, write all your bills and debts, use online calculators, pay sequentially, and start saving. Remember to prepare yourself emotionally and psychologically. Then, seek help from those who are willing to assist you.
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