Search results

Hoping support, since nanghihinayang talaga ako on any interest kasi honestly we don't need the money naman. As of current if itutuloy niya yon I am planning to use the money para bumili kami ng sarili naming house and lot. Or put in business muna (may bahay kami in our grandparents lot)

@smithwood I do agree, unfortunately as mentioned in the post. He is set on getting the loan already. What I can do is reparation na lang to cancel out the interest cost

@skyfae Thank you po for the input. This is true

@tiiti I think its the latter.

@steven6208 He just needs to understand finance. That's why I am here

@steven6208 Ang sakit diba

@athiina He doesn't have plans with the money. I am the one planning our finances po

@onlyway019 This is true. Since hindi ko na mapipigilan father ko on taking the loan as his motivation im just viewing it as a cost thst I can minimize by either: Look at banks that can offer lower rates Minimize the interest by reinvesting

@chuckh34 Thank You po kareddit. Things that we do for people we love

@chuckh34 Yes po this is also true. Kaya I am doing the following: Find local banks who can provide lower interest Find investing alternatives for the money.

@endtimetcc Thank You I am going to lay down the better options for him

@bruce_f Thank you for the input. Lowering the amount to be loaned might be more acceptable for him. The first line in your comment is what some people here are missing out. This is the exact reason why I mentioned his age. Thank you kareddit for pointing it out

@illustratus Actually this is my next study plans :)

@angie197167 Thank You kareddit for pointing this out. This is what some people are mussing out that old people, lalo na those who were really bit exposed to financial management are very hard to oersuade, to the ooint that sometimes mitigation is the only key.

@revelationdaily These are good ideas that I can include with my further discussiona with him. Thank You ka reddit

@bferg333 Thank you po, this is nice

@gto5050 Yes po. I am more financial literate than most financial advisors who just know insurance offers po. Thank you for.the advise po Sir

@seth2015 This is really true :(. My father altho addicted to debt is really a good person and kind at heart. He also grew up poor. This is why as a son I am trying to cover him for his lapses, because that's what a family does, to have each other's back

@syderic I do think a debt is bad if it does not counter the interest cost of debt.. It motivates him to work harder, this is just his reason to get the debt. No plans for use of the money whatsoever. I just want to help him manage the money better.

@joerev Yes I am also on the move convincing him to just get it here kasi parang mas mura pa here locally. Unfortunately since new pa lang siya sa work most banks tinatanggihan kasi they require raw 6-12 nonths for OFWs