My Finances are a Mess!
The title says it all, doesn’t it? I’ll spare you all from reading the post and just declare it.
Okay, first of all, I can’t believe I’ve neglected the blog for 3 months! Time flies when you’re spending money!
The last time I wrote here I was considering jumping into debt. I needed a car and I wasn’t willing to settle for a cheap second-hand car. A lot of you advised me against taking out a loan, others told me to think about car purchases seriously. I honestly had to take time out to figure things out for myself. In the end, I took out a KD 7,000 loan. I know, I know. It hurts but the good thing is that I shopped around for the best interest rates and I took out a loan that still allows me to save. I won’t bore you with all the details now, I’ll save those for another post.
In a nutshell, what’s happened in the last three months:
- The government announced they were increasing salaries by KD120 per month (this is on top of the KD240 governmental allowance we get in the private sector)
- I took a loan for KWD 7,000
- Parliament was dissolved and I’m interested to see if new faces get voted in on May 17th!
- I have gone on a few business trips that depleted the few savings I had
- I started researching finance programs that will help me reach my financial goals
I need to update my sidebars. My savings are in a bad state, having been significantly reduced by both the new car and business trips. I have been spending without thinking. I need to get back to my budget! I also have to put down a sidebar counting down the amount until I’m debt-free.
The first quarter of 2008 has not been good to my savings goals. Like I said, my finances are a complete mess, but 2008 isn’t over yet! Now excuse me while I go read your comments and try my best to reply!
8 Comments so far
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I think sending us all e-mails saying you are back is a class-act. I kept checking, and then had deleted you from my favorites. You are back on - your side of the deal? Keep blogging. Your efforts are efforts we can all identify with as we try to get the best value for our filthy lucre.
As for your loan - you borrowed a very responsible amount. You could have gone a lot further into debt. have you worked out a new budget? Having a credit history is a good thing. God willing, you will marry, but these days every woman has to have a back-up plan in case Mr. Right doesn’t come along or in case he does and he turns out to be Mr. WrongWrongWrong in disguise or in case something terrible happens to Mr. Right. We have to be able to take care of ourselves and anyone who depends on us. Having a credit history helps us buy our own houses down the road, finance college educations, etc.
I think it takes a lot of courage to come back and tell us forthrightly what your decision was. I am just delighted to see you back, Kuwaiti Woman.
First of all thank you soo much for e-mailing all of us and welcome back!
As for your loan I would say you have taken a resonable loan at the end and I am sure you are going towards the right path with your finances
Good Luck!
Thanks for the emails. Like Amu said, the loan you’ve taken is very reasonable and I think it won’t slow you down too much. Wish you the best.
It’s good to have you back! You’ve been missed!
Welcome back! I’ve missed reading your blog!
This is the first time I read your blog…
I came across as I was looking for information about Kuwait…
I will be moving from lebanon to Kuwait this comming summer…
How would Kuwait compare to Lebanon in a few line????
Welcome back
and thanks for the lovely email.
Just wondering, what’s the highest interest rate for a savings account you can get with the Kuwait Dinar?