Little Mistakes That Lead Us to a Big Debt

When I finished the university, I had big plans considering my finances. I thought that now that I do not need to pay school taxes, to pay rent and I will have a well-paid job I will become wealthy in a short period of time.

This plan worked at the beginning. I managed to obtain a well paid job which offered me new money opportunities, but unfortunately I had to pay rent because I worked in another city. But even so I had a good financial situation.

There is a saying, that the more money you have, the more you spend and it is very true. Being able to afford myself thing that in my student years were to expensive I started to buy thing that were not necessary to me, I bought them just because I could afford them. I also started to go to places that were expensive; I started to go on expensive holidays and trips, throwing away the money that I gained from work.

Another mistake was that I forgot the word budget, because I did not have such thing. For instance if one night when I was out I had in my purse 10 dollars I would had been spending them all and if I had 100 dollars the situation was the same as in the case of the 10 dollar budget.

In the mean time I forgot my big plan about a secure financial situation and I spent my money, without thinking that I could end up in credit card dept or bankrupt.

The financial disaster happened when I lost my job. I had no money, because I have not saved even a nickel, because I was unaware with my money. After that I started to borrow money, thinking that I will be able in a short time to give it back, it did not happened and I ended up having a huge dept, confronting debt problems.

I had to find a debt solution very fast, because I was lost. A debt counselor helped me to overcome the problems, she taught me how to start resolving my problems, and after I found a job she presented me opportunities and ways to save money, to invest them.