This is a 3 part post about debt and how I was able to get out of it. Let me start with this:
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Before the global recession of 2008, it was very easy to get purchasing power here in Dubai. Banks would come to customers with pre-approved this and pre-approved that.
I fell in to the debt trap. I work for a large company with better-than-others-job-security. Bank representatives would be waiting in our bus pickup location to offer credit cards, loans, etc. Some of them even pre-approved.
So I gave in, I accepted the offer for a loan so I can take driving lessons. When I got the loan, I was also given 2 credit cards and was told that it was included in the account. I didn’t want to use it at first but then temptation kicked in. You know that feeling when you see something that you really want to have that you couldn’t before but now you can because you have a credit card? Yes, THAT feeling.
I did make my first purchase using a credit card eventually which was followed by the second, then the third till it came to a point that I have been buying stuff that I don’t really need. Read more
The “A” in A, B & Me. An opinionated Tech enthusiast who likes movies and TV, cooking (and eating!) good food, and traveling. I write about the Tech stuff.