How I Paid Off My Debts

Living abroad doesn't necessarily mean I'm debt-free. Sure, I earn dollars but I also spend dollars. From paying our rent, monthly bills (car, electricity, phone, internet, insurance policies, etc), food & groceries to sending monthly stipends to the Philippines, they all pile up.

In Canada, it's easy to get a credit card. Most people do not bring cash with them because plastic is more convenient. And it's this convenience that also makes it easy to spend.

Here are some ways I did/followed that allowed me to pay off my debts.

• Unsubscribed from all promotional e-mails (especially my favorite B&BW and OshKosh/Carter's)---they're so tempting with all the BIG BOLD letters of discounts ranging from 30 to 50 to 80 percent off!
• Thought about all my purchases twice, thrice, or overnight--if I can't pay them in 28 days or a month, then it's a sure NO.
• Bought items in bulk (cheaper & economical) when they were on sale, and made good use of coupons (buy 1, get 1 or half the price) especially for our daily supplies like toothpaste, cooking oil, shampoo, mouthwash, etc
• Stayed at home on weekends, especially when I was trying to pay off my debts from those that I incurred when I had to suddenly go home to the Philippines to attend to my ailing mother. Staying home means big savings (no eating in restaurants, thus saving on tips & the entire bill, no gas/public commute, and the like)
• I made sure to make a list of my grocery items and to stick to it, helping me avoid unnecessary spending
• I always tried to pay the entire statement amount that I owed or at the very least, more than the minimum.
• Tracked my spending and identified areas where I can cut off my spending-- this will only work if I tried to be honest with myself

Doing all these allowed me to enjoy my monthly salary, down to the last cent. It was hard, but liberating to finally say I am debt-free.

But, we must remember that life is short, so short that we also have to enjoy the ride every once in a while. I don't forget to treat myself and my husband, when the occasion calls for it.

I wish everyone a prosperous, debt-free 2020!