The teller in my bank has been kind enough to offer me an auto loan. I think that 5% per year on the interest of the loan is a good deal. And it makes it hard for me to reject the offer.
The thing is, although I want a car, I don't have any good use for it at the moment. I like walking and commuting and using my sister's "endless love" korean style bike. Its funny and I like to use it.
More than anything, any loan will only deduct the amount of cashflow I will have per month. The loan will cost me P15,000 a month of expenses which I really don't want to commit to.
Instead of getting the loan. I realized, I should be learning how to lend properly. Because of the incident of one of my borrowers did, I took a seminar about private lending. Some legal aspects, risk management and knowing the ins and outs of lending to a private person or small business.
Subscribe to:
Post Comments (Atom)
-
I got a dividend payment today. Gross Amount (Php) : 89,474.00 Less Withholding Tax (Php) : 8,947.40 Net Amount (Php) :...
-
image by PSECharts.com Nothing much is happening in the Philippine Stock Market . With all the political turmoil and news, you're ... -
Truth be told, in movies (especially in the Philippines) its the poor class (masa) that gets the spot light. In politics, they are the heroe...
No comments:
Post a Comment