Getting off the debt is manageable. You can settle all your debts in just a few months. But if you only sit and watch television every day, this won't happen. You have to work on that.
Discipline and dedication are the essences of it.
I understand that a lot of tips and ideas have been written and published in books and on the internet, talking about getting out of debt and saving money. But, because it's based on personal experience, mine is different.
I quit my job last 2016 and decided to work remotely. I have no income during the first few months, and I could barely find work online. I always thought it was easy to make money online but I was wrong. The market is massive.
My savings for paying the monthly bills were nearly empty. So I had to borrow money from a cooperative in the amount of $3915.95 (Php200,000.00) payable in three years to support the daily expenses and also to pay the bills. For that loan, I had to pay $156.78 (Php8,000.00) plus each month. Believe it or not, in just one year and six months, more or less, I paid out the loan.
Here’s how I did it.
In my previous job, everything was about research and writing. I wanted to continue with what I began, so I decided to write articles online. I love to write, and I tried to add to my skills by enrolling free online English writing classes at Udemy, Coursera and Alison. I didn't pay those classes a single penny. All I have done was to register and review the course.
I always make sure that I have completed at least one lesson in one day, and that the rest of the days are for practice. To have deeper retention, I need to actualize my learning and I learned this technique from my father. By doing so, I know more. The more that I practice writing the more that I have mastered.
I repeated the same process in two months, and in the third month, I apply for a job. I sent samples of my writings and received a call after a few days asking me if I am available for an interview. I said yes, I took an examination, I passed and afterward, they hired me.
It was a remote job, and they pay me $8 per hour. That is 400 plus in Peso and I work only for 4 hours so by making a simple calculation I have $313.56 (Php1,600) earnings daily except Saturday and Sunday. I have $783.89 (Php40,000) in a month.
I split my salary into two $391.95 (Php20,000.00) for the bills and the other $391.95 (Php20,000.00) for my loan. I do not know if my calculations are correct, but it doesn’t matter now that I finished paying it already, and I paid it out before three years.
The money that I paid the loan was the result of self-discipline and dedication. I spent a considerable amount of time inside my room studying and working. I rarely went out to go to the mall or eat outside to cut expenses and I am happy to have a supportive wife.
I can’t say that my writing is outstanding, but at least I am improving, and even now, I am still learning.
Nothing is impossible if you work hard. Whether you want to pay a loan or achieved your goal in life, you can make it as long as you are serious about it. I don’t rely on chances. I work on it. I don’t care if I fail, that is part of life anyway. Everybody fails; what matters is you know how to get up each time you fail.