Last week, I hit quite a substantial milestone in my life. A milestone that shows progress in my ever growing experience. Back in early September, I wrote a blog post about a particular experience I was about to partake in at the time. The experience of taking out a student loan worth 1,500 euro through my local bank. It was a decision I had dwelled over for some time but after sitting down and really looking into the pros and cons, I decided to go for it. To say it was a nerve wracking decision was an understatement! I had never done anything like this before in my life. I was stepping into adulthood and needed to realise that this was a top priority and importance in my life. I understood how important it was to treat this correctly and be mature about it.
To some people it would have been considered a risk to take out this loan when I did, especially due to the circumstances that were surrounding me at the time. I didn’t have a job and regardless of how confident I was of earning one, it was never a guarantee until I was actually in the environment working and earning a wage. So technically that was quite a big risk to take. It would have been impossible for me to pay it back myself with no job . It’s very easy say you can get/do this and that, but unless you actually physically go and do it then it’s pointless. You’re only kidding yourself! I was confident of getting a job and I did! Although it wasn’t easy and it was very hit and miss at times, I stayed persistent and it eventually paid off. People tend to give up when things don’t look positive, but you really need to keep trying and trying and eventually you’ll be rewarded. It doesn’t matter how big or small the situation may seem, you need to constantly keep those same motives and eventually things will go your way.
I stayed persistent, worked hard and have now officially paid off my bank loan in full. A relief I must say! It has knocked off a nice chunk of my monthly bill! Personally, this is the biggest milestone in my life to date. To actually go out and pay back the bank all by myself makes me feel confident that I can survive and thrive in life. One thing that surprised me was how quickly I managed to pay it all back. The loan was taken out on the 20 September 2016 and it was paid back in full on the 12 January 2017. Considering it was meant to be a twelve month pay back process, I think that’s pretty good going. It also saved me having to pay interest which is also a bonus! I will admit, a bit of lady luck was involved in clearing it so quick. You all know by now that the situation with the phone was a great help towards this loan and did pay back the majority of it. This money was earned through working those long hours and even partaking in night shifts to gain as much money as possible. This was just plain hard work. I will however be fully honest with you and and admit that some of the loan was paid back through a bet I won on Stephen’s Day over the Christmas period. As I’ve said above, lady luck gave me a small bit of a helping hand. I was extremely lucky enough to win 430 euro from a bet I placed on a few soccer matches. Nine times out of ten, this bet would never come off but I managed to defy those odds for once and win a nice kitty. This allowed me to place the majority of that money straight into the loan account. Obviously, I would have still paid off the loan but just not in the time that I actually did it. Betting is a topic I feel strong about and it is by no means a way of making money. It’s quite a dangerous habit to get into and you will lose more than you win. It’s as simple as that. So, it can never be used as a substitute for making money. Again, you will lose nine times out of ten so don’t let that one win fool you. I will be writing a post on this in the near future.
The 1,500 loan was used to buy a car that was badly needed. As I was training 6-7 times a week, going to college and working on top of that – it would have been difficult and near impossible for me to get in and out every day (I live 25mins from the track and college). The possibility of getting student accommodation was always in the back of mind my but I opted to get a car instead. It was the best decision I’ve made in a long time. The car itself is nothing special but it gets me from A to B and that’s really all that matters.A lot of people wouldn’t be seen driving this car, especially nowadays where my generation have to be driving fancy, high paid cars. For me though, It’s perfect and I actually really like it. I’ve had it to this day and it’s still running perfect. Yes, it might not be the nicest looking car but it’s a start and I have no problems with it. It has given me freedom and possibilities I’d have never had without it. So, I’m happy to have it and even more happy to know that it is now officially my car. I always thought of the car as the bank’s property until I had paid them back. Now that I have paid them, I can officially say I own the car and it fully belongs to me. Another good stepping stone in my life. Also, I do realise that the car is not very clean in the photo and yes I will clean it very soon!
Good feeling knowing I now officially own this car.
It’s funny how all these experiences in my life have all added up to each other. Each experience has had an affect on the next and they all correlate with each other. Taking out the loan meant that I made sure I secured a job. The job made me work hard to pay back the loan and the sacrifice of the phone saw me realise what’s important in life and helped me clear the majority of this loan. I’ve learnt a great deal from this experience and It’s made me grow as a person and an adult. I’m more confident and happy with how things are going lately. It’s important to stay positive and allow things to work out. Positivity, persistency and consistency have allowed me to reach this point. I’m looking forward to seeing where I stand in the future. It’s all a stepping stone!
Have you ever paid off a loan in full before? How did you do it? Let me know in the comments below!
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