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Thursday, February 21, 2008

Last week, I finally was able to partly settle my debt from a local bank. It was quite relieving to pay almost half of what I owe a little ahead of time. Whew! It was quite a feat for me, because I was delayed in paying for two months already. Although I had to pay some amount for the delayed payment, I was able to pay for an advance of one month. That is quite relieving, whew!

You see, my husband and I decided to have this debt because of a small investment we made last year. The investment has not yet returned but we are waiting for the turn-around in due time. We wanted to invest because our salary alone cannot yet sustain the needs of our growing family of five. With the never-ending bills and financial needs, it is really better not to rely on our salaries alone; plus the fact that my husband’s business has not yet fully bloomed.

We are thinking of really being smart with our finances these days. We should really learn a lot from our past experiences of financial uncertainties and difficulties. Since we have three growing children, we need to keep the budget guarded so as not to live like “one day millionaires”.

I read online of that Debt Management Plans can help people manage their finances to avoid bankruptcy . Before, i do not think of these financial issues of the family, but now it helps to know what Debt Management Plans can do to help people like me, who are not financial expert but really needing help when it comes to managing our family's finances.