Get Out of Debt Now!

So far, my life in Taiwan has been supported purely on borrowed money, courtesy of my private Siblings Bank. Had to foot the bill for the first months of expenses -- rent+deposit, scooter, normal life needs, transportation, etc -- without shifting my assets from North America.

The result? I'm already $140,000 TWD in debt. Lovely way to start. And I'm just getting my first paycheque (assuming the direct deposit has gone through okay) today!

8 comments:

Momcy said...

I don't understand? Why would u rather borrow money instead of using your own saving? U believe in paying interest?!?!

Nk said...

Uh, Momcy, it's the Siblings Bank: the Siblings Bank doesn't charge interest. In fact, on occasion it's been known to forgive little amounts, too.

hougee said...

what kinda repayment plans r u on :P

Ben said...

I think there was actually a disagreement on payment plan. I agreed to "as soon as I get my paycheques", but they insisted on the terms of "whenever you can, don't worry about it".

The Siblings Bank interest isn't in the form of monetary compensation. Rather it's based on support (from me) and shelter (at my new place). And other stuff, too.

Clarence said...

Maybe you can get some credit forgiven for being such a great big brother! :)

What's the exchange rate to USD?

Ben said...

1 USD = 31.89 TWD and holding.

Clarence said...

That's not too bad for startup costs :) Take some pics of your new ride when you can! hehe

Anonymous said...

Ben, Did you get the handle removed from the back of the seat of your scooter yet? *wink* James