my plans to be free from my present financial status

I have been working for a decade now. And I can say that I am just starting to save for myself. I spent most of my earnings for my schooling - graduate school, short courses, certifications- and helping my family.

Fortunately, I must say that among my sisters I have the means to help my family. Not only my parents or my sisters but also my nephews. In the previous years, I never thought that one day I would also be in need of money for my hospitalization or for other emergency need. So I asked myself, if this time comes, where would I run to for help? If they are depending on me financially somehow, can I also depend on them in the future?

I have to realistic and practical.

After the realization, I revisit my bank account. Zero. I revisited my debts' list. Plenty. I have three credit cards with which I depend upon for grocery or medicines whenever I ran out of cash. I use the plastic money whenever I want to buy something.

I am not in good shape financially speaking. I have to do something. Or else I will be in debt all my life.

So when I received a big amount of money last July. I saved a portion of it. I used a portion to pay some portions of my two credit cards. I also learned to avail of paylite installment plan whenever I use my plastic money so I will be paid in full with interest of course in a more definite time rather than paying only the minimum amount due or a little over that. If I need to have it paid in full within three months or six months, that is better for me. I also applied to pay my biggest outstanding balance within nine months.

I now spend lesser. I save a portion of my salary in bank. I use a bigger portion of it in my buy and sell business. The money I save in bank cannot accumulate the interest I earn in investing my money in buy and sell. Five peso profit is still a five-peso profit for every item I sell. And I cannot easily have in my bank account.

I intend to stick with my plan to pay my two credit cards and have it cancelled for a while. I will just stick with a single credit card. It is useful whenever I travel and for emergency expenses.

I need to cut back in online purchases. I need to cut back in riding a taxi cab. I need to cut back in buying unnecessary things. I need to cut back in paying for others.