Not a penny borrowed not a penny owed is pretty much how I live these days but I find the opposite in many. Currently going through my figures for this month I am owed P100,000 from various people for various things. A word is a bond that is often not met as well and I know the first thing people are thinking here is don’t lend to Filipinos its your own fault.. Well guess what its all money owed to me from foreigners and businesses.
Now its also why I work in pockets of cash and don’t rush out and buy what I want. For example the motorcycle has to come from contributions or money I make online. Not my other businesses otherwise like now I would have gone out and bought the bike and thought hey isn’t it great all those trips.. now if I could only afford petrol for it!
We aren’t in dire straits as these things are why its worth budgeting XYZ and only taking pools of money out of certain things for emergencies. My loan company covers all the electric,rent,water and food bills. The internet cafe covers the internet and my beer supply. But no doubt things will get there in the end. At the same time just wanted to mention how quickly things can run up as some of this money was promised 2 months ago already but they are having financial problems and the Jeepy buyer also pulled out due to cashflow issues which is another P35,000 I could do with. If everyone pays at once will be ideal as by that time I probably won’t need it as I have found other ways to get what I am after right now and then it can slip into a high interest investment somewhere.
Being owed money isn’t nice to be honest especially when its services rendered on a gentleman’s agreement but many an expat will tell you not to trust an expat when it comes to money and I have to agree. But most of this money is international so can say just one of those things and it will arrive when it arrives.
But when doing your budget this is why its better to have things localised that cover your essentials and anything else on top is profit or for boys toys.