Dear hivers

I realize that I badly need a financial management class. Yeah, I need that! I need more than head knowledge though. I just might show off my financial knowledge awesomeness, but I might still be broke!

Instead, I need new habits. New ways to manage my money. New ways to invest. New ways to save and earn money!

The first thing I gotta do is to get rid of my debt! I want to be debt-free! Totally debt-free.

Why?

Let’s just say that reality just slapped me in the face this past week. It’s not pretty.

debt-free project

I’ve had a severe case of pre-payday poverty syndrome. To the point that I was down to my last roughly U$30 last week! I got so worried and anxious I might’ve had temporary ulcer.

What exactly happened to me?

Well, I made some extra money over the past month. But having extra income means nothing if I can’t manage my cash flow.

I paid credit card balances. I had some overdue amount on my Eastwest Bank Credit Card and my BPI credit card. That easily took about $40 of my income.

I made my monthly car payment worth $10,00. On top of that, I added $5,00 to my youngest brother’s tuition fee at the University.

Then, I had some financial setback. You see, I bought an iPhone 4s. But the DUMB thing I did was… I didn’t check that it was on Sprint, which means that it’s not easy to get it factory unlocked. So I ended up paying USD 190 for that. Really dumb mistake!

Also, my wife and I are expecting our first baby in the first quarter .My wife took a leave of absence from work for 2 months. She just got back two weeks ago, so her salary is not yet enough to augment our income to cover all our expenses.

I exhibited all symptoms of the Pre-Payday Poverty Syndrome!

But there’s one other thing I’m doing now. I know that I DON’T HAVE TO suffer from it again. That’s why I’m embarking on a 6-month Freedom-from-Debt project. Soon I should be able to say I AM DEBT-FREE!

I reactivated this blog, actually to chronicle my journey and share whatever lessons I learn along the way.

So, this is my first step: to recognize that I have a problem and that I need to solve it right away. It’s the urgency of the matter that’s driving me.

By the time my wife gives birth, I shall be on the last leg of this journey! When that time comes, I know that I will be a bit more ready as a father, as a provider, and as a family man!

Come, join me, and let’s help each other.

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