Financial Diskarte 2

I accidentally erase my post here today, I continously hit the ctrl y & ctrl z here in my blog and voila everything is gone, huhuh....Syunga syunga ko kasi e, akala katulad ng Illustrator & photoshop file na puedeng mag-undo & redo sa blog, haaissst I need to rewrite my blog all over again from scratch, hope I can still locate some of the vocabulary words in my brain......

At work when there's a problem after conflicting arguments, tanong ng Boss ko---

"So, anong solusyon?"

Andyan na ang problema, solusyon ang kailangan ko.

I'm going to use this question to find an easy solution in these 3 financial situation.

Financial Challenge 2

Scenario 1: Last June my financial plans were ruined due to unexpected expenses in house repairs, room transfers & my impulsiveness in buying a necklace. After computing my income vs my payables I'm know that I have a cash shortage of P 3,000.00. I know that I wont be able to pay my credit dues in full so I need to solve this in these 3 options.
1.) Balance Transfer- transfer balance from one credit card to another credit card company with the fixed add on rate depending on terms.
2.) Cash loans- personal cash loan with a fixed add on rate depending on terms.
3.) Balance Conversion - convert your balance with a fixed add on rate depending on terms.

Note: Credit card bills must be paid in full otherwise you will be charge with an average daily interest in both old & new purchases. If you can't pay it in full do one of the three options above it will surely save you from the hazzle of compounding interest.

Scenario 2:
Our neighbor approach my mother "Aling C" may alam ka bang mahihiraman ng P10,000.00 kailangan ko lang agad sa business ko tubuan ko na lang?

I was about to choose the balance transfer for scenario1, when my mother ask me "kung pede kong magawang ng paraan yung sa kapitbahay namin.....Hmmm, I see earnings here, so answered --puede.

Scenario 3:
I was about to confirm to the customer service agent of my credit card cashloan when my officemate overheard my conversation, "Puede ba kong sumabay dyan?"

"ok so, anong solusyon?"

Cash Loan Ulit @

 So I filed a P 15,000.00 Insta Cash loan @ Eastwest Mastercard @ 1.5% add on interest payable for 6 months. Let's do some simple math here:

For Scenario 1 - I use the P 3,000.00 to pay off my credit card dues in full.

For Scenario 2 - I lend the P 10,000.00 to our neighbor with a 12% interest payable for 2 months I only added 2% interest to cover up the whole interest in my cash loan.

For Scenarion 3 - I lend the P 2,000.00 to my officemate with an interest of P 12% payable for 2 months.

Conclusion:
For Scenario 1- I've got peace of mind knowing a fixed interest will be imposed & not the compounding interest.
For Scenario 2 - I gain P 500.00 and it was paid in full last july, I gain another 480.00 last august & I use the 4,000 to redeem my mother's necklace. Some of the principal amount is still rolling while paying for the monthly installment.
For Scenario 3 - I gain P 90.00 while still paying for the monthly installment, Just like in "B" some of the principal amount is still rolling in money lending here @ the office.


My ways in dealing with my finances may not be ideal.
My extra means of earning may not be perfect too.
But I need to use what I got in solving some of my financial problems.
And credit card is what I got to back me up.


Okay, buzzer beater time is up, back to work....

Have a great day guys!!!!!


Note: Dito ko po nakuha ang 2nd top up ko sa FAMI Save & Learn Balanced Fund.