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Saturday, April 16, 2011

My debt situation on date of April 16, 2011

9 235.70$ at a low interest rate of 4.75% (RRSP credit line rates) = 438.70$ in annual interest

4 900$ at a low interest rate of 4% (credit line rates) = 196$ in annual interest

7 803.28$ on a TD Canada Trust credit card at a low interest rate of 4.9% (result of a credit card balance transfer) = 382.36$ in annual interest

7 638.29$ at low interest rate loan at 5.50% (student loan) = 420.11$ in annual interest

5 000$ at 8.75% (credit line) = 437.50$ in annual interest PAID OFF

7 868.97$ at 7.52% (credit line rates) = 591.75$ in annual interest

37 525.06$ at a low interest rates of 4.25% (margin money coming from TD Water house): =
1 594.82$ in annual interest

TOTAL: 74 971.30$

TOTAL in annual interest: 3 623.74$
[In date of April 16, 2011]


Anonymous said...

Hi Sunny-congrats on paying off your debts @ 8.25%. You must really worked hard on that one. Keep up the good work

Sunny said...

Hi there! Thanks. 8.25% is quite huge for the interest.

Anonymous said...

I thought the first rule of investing was pay your debts down first?

Sunny said...

Hi there,

Well, if you are very conservative and old fashion, I guess than yeah, you'll be looking at paying debt first. I decided to invest instead, all of the credit own - at the exception of the student loan - is being use to invest. A choice of mine. I prefer this way. Rules were made to broke them.


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