We all have been there, buying something that’s more than what we can afford. For most of us, we buy such things to reward us for our hard work. However, for some, they buy things they want because of what we call ‘peer pressure’. Iray is one of them.
Iray works as a house helper. She’s supporting her parents who are in Siquijor, raising farm animals to also earn money for themselves. When she started working here in Cebu 5 years ago, a higher portion of her salary was used paying off her debts, almost nothing left for herself and parents. That’s because when she was still in her province, even with a smaller income, she bought things like mobile phone which cost more than what she was making. With her friends buying new clothes, she bought a couple as well. She borrowed money just so she can keep up.
It took her a year to pay off that debt including the interests. There were times she had to ignore phone calls, mostly from people trying to collect payments. Those days left her with no savings. She was just fortunate that she didn’t have any emergencies that time, that her parents are healthy even at present with no illnesses which might need hospitalization or medications.
Now, she’s debt-free but no savings yet in the bank. A piggy bank is what she has right now, which is better than nothing, right? Iray has learned her lesson, to buy only what she’s capable of paying. There are temptations yes, but let’s just hope it’s something that her piggy bank can help without the need to borrow money.
Iray’s story is very common, regardless of how much we’re earning, no matter how big or small. Lucky are those who are really disciplined, those who get the money first before giving in to the mindset “I deserve this!”. How about you? Do you save first before buying your “wants” or you’re one of the many who use lending companies and credit cards? Feel free to share your story in the comment section below.
