So, yesterday just before I was making my way to the bank to check on my balance, I get a phone call. I recognised that code – it was my bank whom I applied for a loan with – and they declined me!
‘We have now approved your loan’. Well I never! One minute they say it’s declined, and the next…. well. Much that it was tempting to say ‘yes’ I thought about it last night and came up with the conclusion this morning that it just isn’t worth it.
Having a consolidation loan – you ‘forget’ about your real debt. Even if I can over-pay – it’s not the same like snowballing. You’re not ‘seeing’ your progress. You forget about it and not as ‘eager’ to get rid of the debt.
Nope, I’ll stick to what I’ve got – the snowball / snowflakes method. I’ll see the progress straight away, and will be more determined to clear that debt quicker.
Today, my app called Debt Manager showed its first signs of life! It made x2 automatic transactions and has slightly reduced my debt. I felt excited seeing a bit of ‘colour’, a percentage confirming how much I’ve taken off my debt. OK, it was only 2 and 3%, but hey, that’s something, right?
When that loan ‘acceptance’ form arrives, I won’t even bother signing it. I’m on a mission…