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
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]
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4 comments:
Hi Sunny-congrats on paying off your debts @ 8.25%. You must really worked hard on that one. Keep up the good work
Hi there! Thanks. 8.25% is quite huge for the interest.
I thought the first rule of investing was pay your debts down first?
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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