Hello, I’m 29F. Like almost everyone else in this sub, I am now drowning in debt due to various reasons (helping my family, irresponsible spending, migrating and tapal system). For context, back in the PH I earn 70k, net per month. I cover most of the bills (internet, food and electricity) given na kami ang nakatira sa bahay. I think ang una kong naging utang is from Revi - because I wasn’t honest with my parents na hindi ko kaya i-cover yung extra expenses when we needed something to fix for the house. Nalulong ako sa mga cash lending apps and then decided to consolidate it using Unionbank Personal Loan. Akala ko okay na, mababayaran ko na lahat, pero iba talaga pag hindi ka disiplinado tapos may credit card ka. I have 4 - UB, BPI, EW at SB. Thankfully hindi ko naman sila na-max out. But I owe a considerably large amount on the latter 3. Last year, I migrated sa Europe to work - so naka-add pa to sa utang ko kasi need ko ng money to transfer. Nung una akala ko kaya ko i-sustain thru tapal system, pero malaking katangahan yon. I was able to do it until December last year hanggang sa wala na talaga ako mapagkunan ng itatapal. I decided that this year babawasan ko na utang ko. I am trying the snowball method (i started 2 months ago btw). I’ve cleared my Gloan (April). Ito yung mga utang ko so far (estimates)
UB CC - 4k (including unbilled)
UB PL - 829k (23.4k per month)
Billease - 10k
Maya - 18.7k
BPI CC - 172k (including unbilled)
SB - 300k (including unbilled)
EW - 400k (including unbilled)
Except for the fixed payments (UB PL, Billease and Maya), I pay more than the minimum sa mga CC. I can allocate 75k (including fixed payments). Next on the list ko matapos ay UB CC and Billease kasi last 2 instalment na lang. Now I have MP2 savings na 42k (with dividends) which will mature on September. Balak ko sana kunin na kahit premature para lang mailagay ko sa next biggest debt ko which is BPI CC. Nilagay ko lahat sa excel and ang estimated time na matapos ko to lahat is by late 2028/early 2029.
Can someone validate me if I’m doing this right? Nalulula kasi ako na lumolobo sila every cut off ang hirap pigilan ng urge na magtapal ulit. Pero I want to lock in. As in. Please helppp