Cash Loans Cleared

Finally, all the cash loans I made last year were all cleared. I just paid the last installment on my cash loans last week, yeheeeyyy!!!
These were the loans I made last year, the financial diskarte 1 & financial diskarte 2  posts I did to solve some of the unexpected financial problems, to help my kuya with his small business & a start up puhanan in lending. Yes, all of it were from my cash loans.

I am so thankful that I own a credit card that really helped me during those difficult times.
And I can say that I benefitted from those loans because aside from the lending interest I gained, I was able to save the dividend shares on my amwslai account from being forfeited last year & complete my emergency fund.

Though there were some setbacks from my cash loans because all of the scrap materials for basahan I bought last year were stocked up in our house because of miscommunications we had from the supplier to the buyer I still consider it as a learning experience, ika nga "may mga lugi talaga paminsan minsan sa business". Anyway, all those scrap materials can still be converted into cash just waiting for the right buyer, so wala pa rin "lugi".

Another 10k cash loan was made last January payable for 3 months which was used for lending. The last installment was paid last month & I earned P 1,400 from it.
And though I made two-10k cash loans last March for lending again & last April for my tuition fee, I have calculated the interest from the credit card vs the lending interest, still I got a positive result from it. "May tubo pa rin ako kahit papaano" :)

Just sharing some info on how to compute fixed add on interest on cash loans, balance transfers & cash conversions on credit cards



I guess you may be wondering why I keep on making some cash loans even if I do have some extra saving already. That's because I easily get frustrated & disappointed when I saw withdrawals on my savings account. "Am I the only one who has this kind of attitude?"

I do not want to lose my momentum in reaching my financial goals. So as long as I can earn the add on interest that the credit card will charge me from the cash loans I made I will continue to do it whenever I need it. For now, my credit card act as my second back up emergency fund.

I think "knowing yourself first" really plays an important role in reaching our financial goals.

Just in the mood for sharing!
Have a great weekend!

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9 comments:

  1. edelweizaApril 30, 2015 at 2:53 AM

    Financial experts have a term at what you do --- leverage. Making other people's money (OPM) work for you. In that case, it's the credit card company's money. Oh, diba, nakakatulong ka na sa family at friends mo, kumikita ka pa! :)

    ReplyDelete
    Replies
    1. graceApril 30, 2015 at 5:17 AM

      I see - financial leverage pala ang tawag dun.
      Thanks ms edel - sa panibagong kaalaman :)
      May bagong dagdag na salita sa utak ko ngayon, heheh.

      Delete
  2. JillsabsApril 30, 2015 at 6:25 PM

    Yup, Edel is right, you definitely have the principle of leverage down pat. Next time, instead of a credit card loan, real estate and big business na ang gagamitan mo ng leverage! Level up na! :)

    ReplyDelete
    Replies
    1. graceMay 1, 2015 at 10:56 PM

      Akala ko hindi normal attitude ko, meron pa lang financial leverage tlaga :)
      Hopefully in the future, magamit ko yang financial leverage na yan :)
      Level up ko muna ang sarili ko :)

      Delete
  3. BeeMay 4, 2015 at 10:12 PM

    I salute you Miss Grace. Ang galing. Kumikita ka pa rin kahit me cash loans ka. Parang gusto ko rin yan. hehehe. :)

    ReplyDelete
    Replies
    1. graceMay 5, 2015 at 3:33 AM

      thanks sis, basta sigurado lang yung mga papautangin na magbabayad, kahit papano kikita ka ng walang gaanong pagod, hehehe

      Delete
  4. AnonymousMay 7, 2015 at 9:55 AM

    Hi.. This is irrelevant question but I am interested to know how to post this kind of pix.

    I believe it is in excel. I tried doing similar thing but it doesn't look very clear.

    Hope you can share this.

    Thanks

    ReplyDelete
    Replies
    1. graceMay 7, 2015 at 7:11 PM

      I do have some background on Adobe Photoshop & Adobe Illustrator. I do it manually in Illustrator & paste it on photoshop :)

      Delete
    2. graceMay 7, 2015 at 9:37 PM

      Sorry, If I cannot share it here how it was done. As much as I wanted to, It cannot be taught by words. Wish I can share some basic knowledge. But for starters, you must have those softwares installed in ur computer & there are basic tutorials in youtube if you want.

      Delete

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