Financial Crisis…

I’m in a financial crisis. I don’t know if “financial crisis” is the right term. But that’s what I want to use. Anyway…

Many businessmen are having financial problems nowadays. Less customer count, less sales from existing customers, bouncing checks, higher employee salary, higher bills…

My brother-in-law has a shop selling shirts and pants on Baclaran. He sells shirts and pants as whole sale, for resellers. I don’t know what happened, but he’s having financial problems. He sometimes ask my husband to lend him money, and in return is a post-dated check. He borrows xxx,xxx.00 from us.

But this time, the check would bounce. My brother-in-law had advised my husband no not deposit the check. After a month, and another month and so on… I ask my husband about the money. He said that he’s brother hasn’t the money yet. I get tired of asking. And I thought that he had already paid us.

Last night, my husband, my baby and my mother-in-law went to my bro-in-law’s to fetch my father-in-law. When they all came home, husband seems annoyed, angry…

My parents-in-law hadn’t went upstairs until my husband went to our room. I later found out that my husband asked his brother about the money. And my mother-in-law scolded him for that. There are some clients who hadn’t paid them yet. And many has no plans of paying. Those clients had already disappeared. I think, summing everything up, there’s more than 1 million Peso of unpaid and would never be paid money to them.

My husband was asking me how much I still have on my account. I only got x,xxx.00 on my account. And x,xxx.00 on PayPal. The x,xxx.00 on my account is originally xx,xxx.00. I withdrew money to buy watches and others to sell. The money I received from the buyers went to my pocket and on the envelope on the table drawer. My salary goes to the envelope too, and xxx.00 to my pocket. Everything on that envelope is for everybody. My husband hands money from the envelope to my mother-in-law, for the everyday necessity. My husband’s pocket money is from the envelope too.

The past month and this month, my husband hadn’t got any income. The past months, I think there’s no income too. This coming month, there should be an xx,xxx.00 but still not sure if his client would still continue with the deal.

I should be upset. And I am upset. But I try to cool down. After my husband told me about the money his brother borrowed from us, and his mother scolded him, I try to stay cool. I am cool. But my husband almost cried. We have bills to pay. He still got xx,xxx.00 on his other account. But after paying all the bills, plus the house rent, we would end up xxx.00!!!

I just told my husband to not ask his brother about the money anymore, so his mother won’t get angry. And if his brother got the money, if he’s a good brother, he would pay us. If he doesn’t, then just don’t argue with them.

I told my husband, that next time, he should tell me and ask me if it’s okay to lend money to his brother or to others. He should!!! Because it’s our money! It’s not because we’re husband and wife. But because xxx,xxx.00 of the money borrowed by his brother is our money as husband and wife, and the other xxx,xxx.00 is my money. I don’t want to lend the money because it’s double the money he used to borrow. But my husband had already told him that he would. Every happened in a snap! My brother-in-law called on my husband’s mobile phone that night that he need that big amount of money. Husband said yes. When my brother-in-law came to pick the check, and give us the post-dated check, my husband asked me to write a check amounting to xxx,xxx.00 for his brother. Everybody was in the living room, my husband, my bro-in-law, my parents-in-law, and me. I can’t say no or even question why. I just go and prepare the check. When everybody was gone, I then ask my husband why.

I also told him that, before he lends money, he should think of his family first. And he should check, if he lend this amount of money, then this amount is the only left on his account, would he have problems if ever the borrower can’t pay at exactly the set date of payment, and would he and his family survive if the money would not be returned.

Right now, after paying the bills, we still have some, about xx,xxx.00. My monthly salary + the money from PayPal – husband’s gasoline – everyday food and others – Ivan’s milk, diaper and others – ang pao (red envelope) – food and others sent to China (sometimes) – etc etc etc… how would we survive?

But I’m still cool, very cool, just like nothing has happened. And I don’t know why I feel like this.

I’m also absent from work today.

I’m also absent from work today. – on next post
ang pao (red envelope)… on next next post
food and others sent to China (sometimes)… on next next next post

3 thoughts on “Financial Crisis…”

  1. Gosh.

    Looks like you should start thinking about squirreling away some money. At the rate that things are going, it doesn’t look like your bro-in-law is going to be able to pay off his loan to you. The worst part is that the bro-in-law might sink even deeper into debt and your husband will feel obligated to help him out again.

    Open up a new account and don’t let your husband know – tell your parents or whoever you trust so that someone is at least aware of that in case something happens to you *knock on wood* – and start stashing money in that new account. This way, even if you really have extra money left over, your husband won’t even be able to lend it to his brother again.
    .-= Popcorn´s last blog ..Mall =-.

  2. I don’t actually have extra money. I do earn online through blogging and some clicking. I am also an online seller. Pero lahat ng kinikita ko is napupunta sa family ko. Family meaning sa husband, baby and in laws.

    I have the feeling ren na hindi na makakabayad bro in law ko. Kung makabayad sya, then congrats to us. Sa nangyari, the good part is, naintindihan ng husband ko na important ang family nya (comprises of sya, ako and baby)

    I really told him in a very cool tone na before sya magpahiram ng pera, isipin nya muna family nya, kasi married na sya and may anak pa. And to tell me naman kung may uutang and ask my opinion ren. I also told him that ok lang pautangin nya bro nya ng malaking amount kc bro nya yun. Kaso wag naman yung buong amount ng uutangin nya then magugutom mismong family.

    I think my husband gets my point. I think naabsorb nya mga sinabi ko. Napaso sya ngayon sa bro nya. This is the 2nd time na hindi sya mababayaran ng ganung kalaking halaga. The first time is regarding commissions sa pag-aahente of about 7 years ago.

    Weird ko ba? Cool talaga ako hahaha

    I am actually planning to save money na nakahiwalay. Kung may extra money na.

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