The good news is that it's very easy to withdraw funds from COL Financial, the bad news is I had to sell some stocks to pay off my credit card debt. That's how I found out how effortless it is to withdraw from COL Financial.
Ever since we bought the next door condo unit, our money situation has been slightly precarious with our emergency funds decimated and finding ourselves in debt to some family members. Things are looking up though and I'll be through paying my brother within a few days. Also, with an upcoming bonus, we can even start renovating the kitchen and tuck a tidy sum away in our emergency funds account.
But because of this juggling, I haven't been able to pay off a credit card bill in full for the last three months and the finance charges for carrying a balance have already reached Php4,000! I thought about it long and hard and decided to sell my AC (Ayala Corporation) stocks since it had already surpassed my 25% threshold to sell. More importantly though, the finance charges from my credit card balance would surpass whatever I was earning monthly from my AC stocks through capital appreciation.
The recent turn of events also made me take a closer look at our finances since I always thought we were doing well, give or take a few needed tweaks here and there, so why were we suddenly crippled by that big purchase?