I had my share of financial difficulties

Date: Thu, 09/28/2006 - 15:08

Submitted by kirasienna13
on Thu, 09/28/2006 - 15:08

Posts: 97 Credits: [Donate]

Total Replies: 8

I am 32 years old and have had my share of financial difficulties. I have never been good at managing money. Part of my problem is that I don't have the patience to wait for what I want. I got married when I was 19 and got to the overwhelming task of being a wife, a mother, and handling the household finances without any help from my husband. We got lived on credit and barely got by. Finally, it got to be to much and we had to file bankruptcy. I really didn't want to do that but we had no choice. We ended up divorced, partly because of stress and alot of other reasons I won't go into. I am currently trying to get out of the pdl cycle. I've learned the hard way how easy it is to get into financial trouble and not really realize how bad it is until it's to late. I am remarried now to a wonderful man. He is a saver when it comes to money and doesn't like to have anything on credit. I have learned alot about myself and about debt in the last few months. My advice to readers is be smart with your money and credit. Also, be patient about buying things and be willing to wait for what you want. Save your money and pay for what you want instead of putting it on credit. Good luck to everyone!

Thank you for sharing your story. Your husband sounds like a sma

Thank you for sharing your story. Your husband sounds like a smart guy. I agree, you should buy with cash or do without, except maybe one credit card for a real emergency. I wish I took after my grandfather more. He actually went to a mortgage company (years ago) and told them he wanted to buy a house. They told him he'd have to apply for a loan. He said, "Why, I've got the money right here?" and pulled $20,000 out of his pocket! (that was back in the 1940s, of course). But he had the right idea! Anyway, best of luck to you. And thanks for the advice.

lrhall41

Submitted by dbaker6 on Thu, 09/28/2006 - 17:08

( Posts: 1600 | Credits: )

Right, your husband will also be a good support in budgeting you

Right, your husband will also be a good support in budgeting your finance. Plastic money comes with all the facilities, but not to forget, there is a price for it. Nothing comes free in this world. If there are defaults in the credit card accounts, the interests and the charges will only get crucial.

New credit should only be considered if there is a possibility to pay it back within the due date. Otherwise it will be only be a damage to the present financial system.

kirasienna13, I am happy that you took your time out and shared your hard experience with all. This is a practical lesson learnt and many here will be inspired to correct their mistakes.