Thursday, March 26, 2009


My burden is off

It started on 1st March 2008. The repayment amount was $12,076.00. What a huge figure for someone who just started working for 1 month. That month's interest was $48.67.

I can't believe I'm gonna let the bank charge me such high interest and so I started doing my finances and planning. Every month instalment = $100. But I ended up saving and paying $1000 per month so that I can reduce the interest and return the bank loan asap.

Finally on 12th March 2009, which is 1 year later. I repaid my full loan!!

Total interest charged: $348.71
Original loan amount: $12,076.00.
Final amount paid: $12,424.71

Yippppeeeeeeeeeee. I managed to do it without scrimping on my usual expenses and still have savings left. Happy that sis taught me some tips on how to manage my accounts.

Suddenly I realised if I don't have to repay my loan, I will be $12k richer lei! I can go Japan twice and Europe once!

Posted by Angela at 12:42 AM