Hi, I am Khorry Carlos, the momshie behind Mom on Watch blog.
This is my beautiful family that inspires me to always be intentional and to give my best in everything I do. I am a blessed wife to my loving husband, Victor, and a proud mom to my two cute little ones, Ate Belle and Bonbon.
Just like you, I have a lot of roles to perform each day. I am a wife, mother, daughter, sister, friend, leader, boss, mompreneur, employee, and most importantly, servant of Christ. Of course, it is such a great honor and joy to be in all of these hats. But let us just be honest Momshies, there are also times that these roles can become so overwhelming. There are times that I find myself doing a lot of things at the same time but actually finishing nothing.
So, it is my goal for me this year, to eliminate overwhelm and become intentional in everything I do.
About Mom on Watch
I started this blog to document our journey and to be accountable for our decision to really make our way out of debt fast. Since it is our goal to build our own dream house for our growing family, we finally decided to pay off all our debt so we can start saving for our house and our children’s future.
Our debt was mostly composed of things that we or should I say, I ( since mostly it was me) did out of stupidity. Some people may regard it as good debt since the loans and credit cards were used to fund our business but it was still a debt. At the end of the day, we will still be forced to settle and make payments for it. During that time, we were not really getting enough returns from our business to compensate for the interests incurred by the loans and credit cards.
When we decided to pay off all our non-mortgage debts at the start of 2018, we had a total of P 1,065,000 remaining balance not including the interest. Below was the breakdown of these debts.
- BDO Car Loan – P 65,000 remaining balance
- BPI Personal Loan – P 85,000 remaining balance
- Citibank Credit Card –P 90,000 remaining balance
- BPI Credit Card (Mine) – P 98,000 remaining balance
- Citibank Personal Loan 1 – P 175,000 remaining balance
- BPI Credit Card (Hubby)- P 167,000 remaining balance
- Citibank Personal Loan 2 – P 395,000 remaining balance
Every month was a struggle for us to make the ends meet. Many things were cut out of our budget ever since. Momshies, ang sakit sa ulo at sa dibdib!
I was so eager to get rich quick that I was not using wisdom and knowledge at that time. My actions boomeranged to me and my family.
The bible is always right.
“Wealth from get-rich-quick schemes quickly disappears; wealth from hard work grows over time.” – Proverbs 13:11
I am blessed that God humbled and disciplined us especially me, though it was really a humbling experience. I know so much better now; been there and done that! I will not go back. Never again that I will borrow money from loans and credit cards just to immediately gratify myself and keep up with others. Late gratification is one of the keys to financial independence.
“But consider the joy of those corrected by God! Do not despise the discipline of the Almighty when you sin.” – Job 5:17
The Goal of this Blog
It has been 2 years now since my husband and I made that decision to get out of debt and be financially free. We worked doubly hard, did our research, and made efforts to take control of our finances. Today, to God be the glory, we paid all our debt worth P 1,065,000 (actually 1.6 M plus including the interests) and it is now my turn to pay it forward.
The goal of this blog is to help you become better at managing your home and money. I will share information, experiences, the things I learned, and tips. I will also share resources that our family still uses to this day to help your families get out of debt without the overwhelm. It is also the goal of this blog to glorify our faithful God who is our source and the reason why my family is still standing strong today.
Thanks for dropping by, Momshie.
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