There is a saying:"spend the money you don't have to buy the stuff you don't need to impress the people you don't like." That's basically me before my debt-free journey.
This debt I have right now is more like a few years' bad spending habits and poor management of my personal finance. I beat myself up everyday about it.
I started my amway business in 2012. And it had its ups and downs. I had been relying solely on its income for the past few years. I am still an amway business owner.
During my business growing, I have grown a very bad habit of using credit cards to cash flow my business. Peak time, I had 7 credit cards! I used to make 55k a year in amway. So the debt impacted very little in my life.
As in 2016, the amway income started gradually decrease. Yet the spending habit stayed.
As in early 2017, I realized little about finance situation. How ignorant of me! The only thing I knew was that I became very unhappy. So I spent more and more on credit cards!! Talking about spending like a congress. I used to hire a personal trainer for $7k a year. I bought LV handbags. I impulsively shopping for Bally handbags during my international trips twice a year.
But Why? I was still so unhappy. So I started minimalism and did KonMari method of my home. Talking about sending the stuff that I bought on credit cards to Good Will.
Nope. Still not solved. I am still deeply in debt and feel insecure all the time. I can feel there are a lot of pressure of paying back credit cards every month but I didn't realize that was my pressure point.
In June 2017, I found out Cryptocurrency. Made some money but never sold it during that peak time at the end of last year. So my crypto profolio is more like " I-can't-look-at-it-because-it-is-too-bloody" profolio right now. Haha. But it is a good thing. The universe asked me to organize my personal finance completely before I can really walk on the path of wealth.
When I found out Dave Ramsey's plan online, I can't stop it. He is a personal finance guru. He really inspired me. I follow his 7 baby steps. Right now, I am at baby step 2- attacking debts with vengeance.!
I will talk about my income sources tomorrow. TMMO-front-2.jpg