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Interest from the loans.

September 2nd, 2010 at 09:04 pm

I made 2 loans to some friends a few months ago at 4% (It was cheaper than they could get at the bank, plus no closing costs.)
I am adding the interest to my $20 challenge every month, so I have $176 to add this month.
Prev. total $12,877.00
today 176.00
new total $13,053.00

Posted in $20 Challenge | 3 Comments »

3 Responses to “Interest from the loans.”

  1. cptacek Says:
    September 3rd, 2010 at 03:02 am 1283482972
    1283482972

    That was nice of you. Hopefully they will hold up their end of the bargain.

  2. Ima saver Says:
    September 3rd, 2010 at 02:09 pm 1283522964
    1283522964

    So far, so good and they have always paid on time!

  3. yisave Says:
    September 3rd, 2010 at 04:31 pm 1283531482
    1283531482

    That's a good idea. When my grandfather used to loan money, he used to ask for something of value to hold against the loan. Sometimes he was given watches, antiques, deeds to land, etc.

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