Do you know that feeling when your wife reminds you about the unending list of bills you have to clear and the groceries that need to be bought but checking your account, there isn’t any money left? Nothing could be more frustrating and depressing than being in a situation when you want to live your life but have no resources.
This was our reality some years ago. My wife and I had a high-paying job and we thought we were living large since we could avoid buying whatever we wanted.
We had luxury cars, taking trips to expensive places for vacation, wearing fancy jewellery, researching on how to get the latest phones and home appliances. The recognition we got from friends and family as the rich family made us feel we’re on top of the world. This was what we termed big-man’s life.
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Then one day, we couldn’t keep up anymore and we finally had that “Oh!what is happening moment”. We couldn’t buy groceries because we were broke. Who could have seen this coming? It became worst when we had our kids and their own expenses joined the list. Then, we knew at this point that we are doomed.
How do we get out of this debt that looks overwhelming? How do we keep up with our lifestyle and still maintain our status in society? what about our children who must be given the right educational background? These were the questions and many more, that flooded our minds.
Everything was happening so fast that I almost entered a depression. This feeling of shame and embarrassment caused something radical to happen. The next few months would be a defining point in our marriage, for our life, and for our legacy. It started the day my wife and I got on the same page with money together. The first thing we both agreed on with money was being tired of going broke.
To end this dilemma, we needed to track and evaluate our spendings with a spending tracker. This made us realize where all of our money had been going and without anybody telling us, we knew we’ve been acquiring liabilities and not asset- things that make us money over time.
Without any further ado, we decided to sell the cars at hand, reduce our spending and also, cancelled some vacations that were not necessary. Friends and family were surprised at our new way of life. Some of them thought we’re nuts while others felt we’re back to zero. The shame was unbearable but since we knew what we wanted and no one even knew what we’re passing through, we cared less about their opinions.
Once we had a little cash saved up, we thought of investing in a venture where we could put the money and also gain Return on Investment. Out of all the businesses we were advised to go into, we found out that real estate was the most preferable.
To cut the long story short, in 2018, we came in contact with a property company, and got some units of 2 bedroom apartment at a discounted price and were able to spread our payment for 12 months. Surprisingly, the worth of that property rose by 40% in 3 months.
The following year, we sold-off some units in order to clear our bills and the remaining ones were and still used for rental purpose; generating cashflow for us every month till date. Within 1 year, we’re able to get out of debt that could have ruined our entire future.
To know more about Middlechase Property Limited, click on the link below: Middlechase Property Limited or call 08186577504.
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