01
Jul
$2,500 + $1,500 = Dual Income To Pay AKPK DMP Repayments, Car & Home Loan Installments
Vedis

At last, hubby has started his work as a full time high school teacher with effect from 1st of July. My wish of him having a stable full time job has come true.

I must have God to thank for because He answered my prayer. :-)

With hubby having a full time job, this means there is RM1,500 to pay some bills, pay off some personal debts from close friends and save for emergency funds.

Hubby’s current pay is only $1,500 per month because he is only given 15 classes per week to teach. There aren’t enough classes for the time being because it’s middle of the year now.

Although hubby’s salary is RM1,500, he is still considered a full time teacher. You know, he will be entitled to a month’s bonus!

If hubby is sure that he wants to be a discipline master after 2 months, he will have extra RM400.

Next year, it’s expected that hubby’s salary is between RM2,000 and RM2,400.

Let’s look at my current income from my niche blogs and tuition classes. I think they bring roughly RM2,500 per month.

Both of our income adds up to RM4,000! Wow, …

With RM4,000, we can pay my AKPK RM320, hubby’s AKPK DMP RM360, car loan installment RM820, home loan and bank overdraft interest fee charge RM520 and utility bills RM250.

Extra money will then be used for daily expenses and saved for emergency funds.

Category: Income Streams, Where My Money Goes To  Tags: , , , , , , , , , , , ,  Leave a Comment
21
Jun
$40,000 Or $50,000 In Credit Card Debt?
Vedis

I don’t really know how much credit card debt hubby and I have now.

The last time I mentioned our credit card debt was in July 2008 and it was $12,916, approximately RM45,200.

During the process of debt management program applications, some banks took advantage of us by adding extra debt to our credit card accounts through late payment fees, over-limit charges, cash advance interest fees and other miscellaneous payments.

It’s my guess that our credit card debt may have shot to RM48,000 or higher before our debt management plans were approved.

Since my first AKPK debt management program repayment in October 2008 and hubby’s AKPK’s DMP repayment in February 2009, we had requested banks to revert the fees and charges that were not supposed to be charged during the process of the DMP applications. Unfortunately, some banks ignored our requests.

Some of the banks have also stopped sending us the monthly statements. Talking about statements, you know, I am no longer dreading getting the letters from the mailbox. :-)

I used to think about what kind of letters and bills would be in there and I would sometimes let the unopened letters pile up.

Since I am very busy with building niche blogs to make money now, I don’t bother how much the credit card debt is.

So long as hubby and I are in the free debt management programs and the amount of debt is decreasing, it doesn’t really matter how much we still owe.

Category: Credit Card Debt Updates, Credit Card Debts  Tags: , , , , , , , , , , , , ,  Leave a Comment
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