I am addicted to mobile Loans, what Should I do to Stop?

I have a big problem. I have been taking mobile loans for 3 years now. I have like 10 Apps in my smartphone. Ever since I discovered these loans, I have never relaxed. When I get a small financial challenge, I quickly download an app and apply for a loan. Before I complete repaying, I apply in another App—I have never rested.

I would find myself in a hotel or with a woman, I end up spending all the money and borrowing from the mobile loans apps. I am employed and my salary is Ksh32,000. All this money goes to repaying of the loans.

For several years, I have not done anything meaningful because of the loans. Help me know how I will stop:

Answer:

Well, it’s good you have acknowledged that lack of self-control has ruined your financial discipline. The first thing to do is to uninstall all the Apps and delete them. You will then identify a project and commit your income so that you lack money to repay the loans. You will be blacklisted by most of them and you won’t be able to borrow again.

Another good idea is to avoid using smartphones. Buy a phone that does not have an option of downloading the Apps. If you manage to live without the smartphone for at least a month, it will be possible to stop borrowing money from the Apps.

Another thing is to stop the destructive habits and taking of irrational decisions. Be a person of principals and always spend on necessary things.