In Debt

Mike hasn’t paid the down payment in full yet. He gave half to Granny before we transferred here and now she’s asking for the other half. Since it was holidays and all banks were practically closed, we couldn’t withdraw the amount just yet.

We’re really gratified that she sold this condo unit to us in a generous price but now we’re in debt. Although she’s a family and even she would say that it’s payable when able, it’s still in our grace that we have to pay her monthly.

I think we will be needing about 60000 PHP monthly to cover all our expenses from internet connection, food, water and electricity, and the condominium monthly dues. Where in the world will we ever get that amount? I mean, you know how much I’m earning in a month and that should only cover the “laundry” expense. tsk. Maybe a credit counseling could help us manage our so-called debts. Anyway, we always get it for free from the Granny. ^^

I have heard (read) of debt consolidation and it is widely practiced in the US. Although most people I know are in debts because of their credit cards, I still hasn’t heard about someone relying on a debt consolidation to help them settle their debts in the most convenient way possible.

Still, I don’t want to get to that situation where I had to give up all that we have right now just because we’re trying to live on our own.

Tagged as: expenses