Mismanagement
On my very first day at work, I told myself to live within my means. I was a fresh college graduate that time and I know that when a person get his paycheck, he will spend it to his heart’s content. Having your own income and not asking for money from your parents to buy the things that you like can be overwhelming. I wanted to have a home of my own and I know that getting a home loan needs to be backed up with a good credit standing from the borrower. So I tried to pay off my bills on time and get only one credit card. I do not want to experince the same fate that my sister undergone due to mismanaged finances. She carries multiple credit cards, had a car loan and some personal loans as well until her payable billed up and she can no longer afford to pay them off with her salary. So she resorted in getting a loan consolidation online.
She learned her lesson the hard way. We have spent considerable hours reading and analyzing the debt consolidation articles available online. We both learned as well on how to choose a tax preparer . In case, I might be in the same situation like her in the future, at least I know what to do and where to go.