Savings hero Asia writes:
I haven't bought anything for myself in almost a year. I have been in rehab, yes I am rehabilitating myself from all my wants and want to haves my heart's desires.
It's the most painful process every day. I learned that debt takes from your future and can cost you many, many opportunities.
I am 30 years old and in the process of buying my first property through a bond. Last year I saw a beautiful house at a good price. I really wanted it with all my heart, but I wasn't ready financially to buy this beauty.
I had to do some real introspection - I got a reality check and found that I am spending too much money on my wants and on my lifestyle. So, I made a decision to get out of debt (lifestyle debt) and take this money and invest it by paying into a bond.
How I won my little victory
I got a bank statement and phoned all the people I owed money to. I looked at the balances and felt sick, and motivated by this sick feeling was also the feeling that I was aiding these people to rob me with the interest I was paying them.
I started paying them off one by one, not accruing any new debt.
Today there have been many, many days of temptation and wanting to get those nice-to-haves. I am in a much better position, I paid off three retailers and one personal loan and I am feeling great.
I am even saving some money and planning for a three-day holiday and Christmas holidays. My child is starting school next year and I am also in the process of looking at unit trusts and where to invest some money.
Thoughout this whole process the much-needed thing was discipline and willpower. I am keeping one of my debtors' statements on my cupboard door to highlight interest and to keep me motivated not to buy anything on credit again.
I want to stay clean from the bondage of debt, lifestyle debt.
- Fin24
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I haven't bought anything for myself in almost a year. I have been in rehab, yes I am rehabilitating myself from all my wants and want to haves my heart's desires.
It's the most painful process every day. I learned that debt takes from your future and can cost you many, many opportunities.
I am 30 years old and in the process of buying my first property through a bond. Last year I saw a beautiful house at a good price. I really wanted it with all my heart, but I wasn't ready financially to buy this beauty.
I had to do some real introspection - I got a reality check and found that I am spending too much money on my wants and on my lifestyle. So, I made a decision to get out of debt (lifestyle debt) and take this money and invest it by paying into a bond.
How I won my little victory
I got a bank statement and phoned all the people I owed money to. I looked at the balances and felt sick, and motivated by this sick feeling was also the feeling that I was aiding these people to rob me with the interest I was paying them.
I started paying them off one by one, not accruing any new debt.
Today there have been many, many days of temptation and wanting to get those nice-to-haves. I am in a much better position, I paid off three retailers and one personal loan and I am feeling great.
I am even saving some money and planning for a three-day holiday and Christmas holidays. My child is starting school next year and I am also in the process of looking at unit trusts and where to invest some money.
Thoughout this whole process the much-needed thing was discipline and willpower. I am keeping one of my debtors' statements on my cupboard door to highlight interest and to keep me motivated not to buy anything on credit again.
I want to stay clean from the bondage of debt, lifestyle debt.
- Fin24
Consider yourself a savings hero? Or just have something on your mind? Add your voice to our Savings Issue:
* Write a guest post
* Share a personal story
* Ask the experts