To Love Some Money!
I was reading The Power by Rhonda Byrne. When I came to the part where she went to an ATM and withdrew cash from her credit card, I cried. The fact that she went about distributing this cash to strangers and then felt joy afterwards amazed me.
It reminded me of my life three months ago. Here is what happened.
I had been living for a long time without an emergency fund, so I went to my financial institution and asked for a Line of Credit (LOC) of $2,000.00. My current credit card was creeping up to $400. My old credit card was still sitting at a $13,000 max. I also owed a personal loan of $6,000. I carried on with this vicious circle of minimum payments for about 10 months. Of course my pay cheques were no longer my own because I kept dipping into the LOC. It sucked big time.
Finally, I made an appointment with a different adviser at my bank. This time I asked for a consolidation loan. We laid out all my expenses, and all of my debts – every last one of them. The adviser said, “Is that everything then?” I said, “Well I do owe $6,000 to a family member and that person could really use that money back now.” The adviser said she would try to factor all or some of that money into the loan as well. We decided mutually we would include only half of the $6,000.
Two days later I met with her again. She said well unfortunately we could not approve half of the personal loan – I was deflated! In her next sentence, she said, “However, we have approved you for the full amount of all of your debt including the $6,000 you owe personally!” I was ecstatic! The look on my family member’s face when I handed over the $6,000 bank draft was so Kodak, I took a photo of it!
So although technically I still owe that $6,000 to my bank, I did it with love. I am now convinced that my entire consolidation loan is going to be paid off in full within a very short time from now. Go ahead and love some money!