A man shared a story on how he got into debt after inheriting a large amount of money from his parents.
Here is the story:
I often hear stories of people win TOTO but end up getting poorer after that and I did not believe it.
My parents left me when I was young and I was only allowed access to the inheritance at 25-years-old. The sum is something like winning a TOTO, during that age I was not smart with the handling of money and I end up getting tons of rubbish.
I bought a car, a branded watch and I took a loan to get a condominium. I was not doing any monthly financing and soon the money was gone in less than a year.
I could no longer pay for the condominium’s loan and I had to sell my car and branded watch to sustain. Even after selling my valuables, I did not wake up. I still continued my lavish lifestyle and I did not even bother buying any insurance as I believe that I was young and healthy.
A few months of jolly well fun and I ran out of money again. So I decided to rent out rooms in my condo to pay for the instalment while trying to secure a job.
The global pandemic hit me at this time and I could not find any tenants. I also did not secure a job in time.
My plan failed one after another and I decided to take a “private loan” which was the dumbest thing I did after getting an inheritance. The loan was the last move that destroyed me, I soon was getting harassed day and night as I have no means of returning and luckily I manage to rent out 1 room and make a partial payment to my monthly loan.
Even opening the mailbox strikes fear in my heart and It is always a letter of demand for my housing loan.
Now I live in fear, no money, no job, housing loan, private loans…