mGa KuRo-KuRo Ni Ka UrO

Friday, April 08, 2005

Receive $2,472 extra income per month

(Or what your bank would not want you to know)

Eto ang isang kagandahan ng buhay dito sa NZ. Maa-afford mo ang bumili (sori hindi pala bumili, umutang ng pambili) ng bahay. Karamihan ng Pinoy na kakilala ko na nakapag-stay na dito ng at least three years nakabili na ng bahay. Although binabayaran pa lang sa bangko, at least magiging kanila na yon after 20 to 25 years. Yon ang usual length ng terms ng mga home loans dito.

In our case, 20 years yung term nung loan namin sa bahay na tinitirhan ngayon. Ibig sabihin nito, magbabayad kami ng certain amount every month sa loob ng dalawampung taon. Bahagi nung bayad na yon ay para sa interest nung inutang namin at ang natitirang bahagi ay kabayaran ng principal na utang. Halimbawa, sa $300,0000 na utang at sa annual interest rate na 7.8%, at kung ang bayaran ay kada-buwan, ang monthly mortgage ay $2,472. (You can use PMT function in Excel to verify this).

Samakatuwid, $2,472 times 240 months (eto ang bilang ng buwan sa loob ng 20 taon) equals $593,300 rounded to nearest hundred. Makikita mo na halos doble ang mailalabas mong pera para makabayad ng $300 k na utang. Ibig sabihin $293,300 ang naging interest ng utang mo.

Ganyan nga ang mangyayari kung ikaw ay hindi wise. Pero kung wise ka, ang gagawin mo dadagdagan mo ang bayad mo kada buwan. Halimbawa, $100 na karagdagan (parang $25 lang yon kada linggo). Sa $100 na dagdag every month (comes up to $2,572/month), mababayaran mo ang utang mo sa loob ng 219.1 months (or 18.25 years), instead of 240 months. (Use NPER function in Excel to get this).

The table below summarizes the time it will take to pay off the loan if you pay additional amounts. It also shows the amount you would have paid and would have saved in total compared to the case where you do not pay anything additional. (I’ve rounded the figures to save space.)

Additional PaymentAmount Paid per MonthTime it takes to pay off loan in monthsTime it takes to pay off loan in yearsTotal amount paidAmount saved
$0 $2,472 240 months 20 years $593.3 k 0
$100 $2,572 219.1 18.25 $563.5 k $29.8 k
$200 $2,672 201.9 16.8 $539.6 k $53.7 k
$500 $2,972 164.7 13.7 $489.6 k $103.7 k
$1000 $3,472 127.3 10.6 $441.9 k $151.4 k

Samakatuwid pala, sa karagdagang $100 kada buwan, mas maliit ng $29,800 ang total na bayad mo at iiksi pa ang time ng pagkakautang mo ng halos dalawang taon. Kung $1000 naman ang idadagdag mo, mas maliit ng $151,400 ang ibabayad mo. At halos sampung taon at kalahati mo lang itong bubunuin! Halleluiah!

Sa ganitong mga bagay, you have to be wise. Hindi ito sasabihin sa iyo ng bangko voluntarily kasi hanggat maari gusto nila matagal kang nakatali sa kanila. They know they’ll lose potential income if you pay off the mortgage early.

At alam mo ba kung ano ang mangyayari pagkatapos mong mabayaran ang loan mo? It will be like earning at least $2,472 extra monthly! Marami-rami nang pang-shopping yan.At kahit mag-holiday ka pa sa Pinas every other month, pwede pa! BUT it will require some sacrifice, siempre. Pero kaya mo yon, huwag mong isiping imposible. Kung kaya ng iba, kaya mo rin.

9 Comments:

  • ka uro, nice site, pakiesplika lang yang sinabi mo na extra monthly income....ano yon after twenty years pa di ba? and papayag ba ang bangko na lakihan mo amortisation mo? or depende sa agreement kc merong fixed or variable yata. puede bang ibenta ang bahay kahit two years mo pa lang itong nahuhulugan, tapos bili ka ulit ng mas maganda, assuming kumita sa pagbenta ng unang bahay..and yan bang 2472 per month, e kaya ng ordinary worker dyan sa nz? pano kung si lalake lang nagtratrabaho muna, si babae e bahay muna alaga ng mga anak. and aaprubahan ba ng bangko kung isa lang nagtratrabaho sa kanila? kasi kaibigan ko sa oz, hindi naapprove nung sya pa lang, pero nung nagtrabaho si esme, approved. thanks.

    By Anonymous Anonymous, at 5:30 PM, April 10, 2005  

  • pagnatapos mo nang mabayaran ang utang mo, lahat ng kita mo iyo na. kung 20 year mo matapos bayaran para kang may extra income na $2472. kung nagdadagdag ka ng $1000 per month at matapos mong bayaran in 10.6 years lang, para kang may extra income na $2472 + $1000 every month. because if you think about it, a month before you were still paying that much. then upon completion, you now have that same amount yours to keep.

    ang asb bank pumapayag na magdagdag ka ng payment kahit fix rate. other banks di ko alam. pero most probably ganoon din. ang condition lang sa asb, di mo pwede liitan. for example, sinabi mo $1000 per week idadagdag mo, kapag later on nagbago isip mo at niliitan, may konting penalty.

    kahit kailan pwede mong ibenta. kaya lang kapag naka fix rate ka baka may penalty kang babayaran dahil sa early repayment.

    $2472 times 12 (kasi 12 months) is 29664. multiply this by 3 is 89k. ang rule of thumb na ginagamit ng banks is 1/3 ng income mo goes to your tax. 1/3 panggastos mo sa araw-araw at ang natitirang 1/3 pambayad ng mortgage. ayaw din naman ng bangko na lahat ng lang ng kita mo binabayad mo sa kanila. kaya 1/3 lang.

    in other words, kailangan ang combined income ninyong mag-asawa ay $89k para pautangin kayo ng $300k ng banks. this was the policy of asb before. pero ngayon di ko na alam. yung ibang banks di ko rin alam kung ano policy nila.

    i hope this answers your questions.

    By Blogger Ka Uro, at 9:23 PM, April 10, 2005  

  • Salamat, Ka Uro. Isa ka talagang henyo. Dati iniisip ko lang kung pano kami makakarating dyan. Ngayon, pinaplano ko na kung pano kami makakabili ng bahay pag nandyan na.
    My question, how do we save $2472/mo? I hope you could share with us the monthly spending of a typical Pinoy household in NZ.

    By Blogger jinkee, at 2:22 PM, April 11, 2005  

  • Hi jhsay,

    here's a typical weekly expense of a typical household with 1 to 3 children below age 16.

    I've put in a range for each item showing amounts in NZ$.
    Rent of flat: $210-290
    Electricity: 20-30
    Water: 5-10
    Phone: 10-20
    Food and groceries: 80-150
    Entertainment: 20-40
    Petrol/gasoline: 30-50

    Ikaw na ang bahalang mag-total.

    I mentioned you'll need to have an income of about $89k/annual for the bank to lend you $300k for a house. for two people working full-time this is easily attainable.

    I think it is good to set your mind to buying a house as soon as you could. huwag ninyong sayangin ang pera sa rent. over here you don't need any collateral. if you have stable jobs and your combined income is high enough, the banks are more than happy to lend you the money.

    By Blogger Ka Uro, at 3:48 PM, April 11, 2005  

  • ka uro, salamat sa mga helpful informations na inyong ibinabahagi sa mga kapwa pilipino na nagmimithing marating ang New zealand....also, saludo po ako sa inyong mag-asawa ...

    sana makapag - post din po kayo ng tungkol sa schooling ng mga batang pinoy diyan sa NZ, yung adjustment period po nla at anu ba ang mas mairerekomenda niyo private o public school? may toddler po ako at child parehong lalaki...

    By Anonymous Anonymous, at 11:48 AM, April 12, 2005  

  • KA URO, hello again! Maraming salamat sa pag-post mo ng estimated gastusin.

    Bukod sa mga nabanggit mo, around how much ang weekly expense for:
    - heating gas (kung napakalamig)?
    - cable tv?
    - internet?
    - health insurance (o kahit na bago ka pa lang jan, sagot na ng govt lahat ng medical?)

    Also, you mentioned about both husband and wife working. Is this possible even if you have young kids? Diba mahal kumuha ng yaya dyan? :) O iniiwan ba ang mga bata sa mga kaibigan / kapitbahay / kakilala, o kaya sa daycare center?

    Thanks again for being so helpful and accommodating!

    By Anonymous jazzyjayt, at 4:02 AM, April 18, 2005  

  • jazzjayt,
    eto ang estimated expenses para sa mga nabanggit mo.
    heating - $5/wk
    cable tv - $40/mo (mahal, konti pa channels. kaya ako di ako nagpalagay ng cable)
    internet - $10/month unlimited access (dial-up), $40/month (ADSL)
    health insurance - kahit bago ka, sagot ng gobyerno ang hospitalisations. Pero yung mga regular visits sa doctor, (example may colds ka), only children below 7 ang libre. Sa adults, this will cost between $30-$45. Some companies give medical insurance benefits to their employees and families.

    Yes, mahal ang bayad sa baby-sitter. Pwede rin iwanan ang bata sa mga nabanggit mo pero may bayad din. Usually, yung mga kakilala naming pinoy na may mga anak, naga-alternate sila sa trabaho. Yung isa sa umaga, yung isa naman sa hapon o gabi para makatipid sa baby-sitting. Yung iba naman, pinapapunta nila dito ang parent(s) nila para mag-alaga ng kids.

    By Blogger Ka Uro, at 8:30 AM, April 18, 2005  

  • Hey, you have a great blog here! You really are very talented and deserve an honest compliment, congratulations! I'm definitely going to bookmark you!

    I have a unique home based business opportunity site/blog. It successfully covers unique home based business opportunity related stuff.

    Come and check it out if you get time, Scott.

    By Blogger Scott A. Edwards, at 8:53 PM, July 28, 2006  

  • Here it is... FREE advertising, FREE download. No cost to you! Get your FREE download NOW! Make money and get FREE advertising! This is a great program for you to take advantage of... Check this out now for FREE!

    To find out more visit: mlm business site. It successfully exposes FREE information covering traffic and mlm business related stuff. Don't forget, FREE, FREE, FREE!!!

    By Anonymous Scott Arthur Edwards, at 7:21 PM, September 07, 2006  

Post a Comment

<< Home


 
eXTReMe Tracker