The Bloody $14,000 School Loan

Posted by Mister Qian | 7:52 AM | 1 comments »

study loan

As it turned out, I did not become the personal banker I wanted to. It was a good thing, given the trying time now for the banks - especially those doing consumer services.

Did a part time course after my University education which cost me SGD1,500. Didn't managed my finances well enough - the interest for my education loan kicked in. As of today, my net worth is an impressive $-12,797. September was a bad month. Every dollar into my account was deducted by the ever-efficient POSB (see above picture). I was left with $1 (the minimum to keep the account open) most of that month. Made a silent vow (again) never to let that happen. Who would thought a romantic $200 date would cause me to be so broke?!

Late September:

Found myself a job. Currently on the second week of it. Spent little on food because the boss brought me around most of the lunches meeting clients, suppliers and service providers.

Spent $15 on blank cds and $9.90 for a cable organizer. Minimum spending on other things.

Recession is kicking in. It's good to be prudent with spending. I am determined to pay off the debt within a year -or less.


  1. bk // October 22, 2008 at 8:56 AM  

    Hi Mister Qian,

    You visited my blog sometime back and dropped some comments which I missed.

    Anyway, if this helps, I was once down to only $7 in my only bank account I had. I lived off the coins that were lying around in my room and practically did not go out. The feeling was terrible especially when my friends asked me out.

    Hope you manage to repay your debt soon!