I called my mother yesterday for updates.
In my previous entries I blogged about my investments, the lands I bought, my coprahan, and the loans I extended to the farmers near my farm. The loans I provided to the farmers require them to pay me 8 sacks of palay per ten thousand pesos loan every cropping which is twice a year, meaning they have to pay me an interest of 16 sacks per year. Since it is harvest time now, from March to May, the payments are coming in; I have received 30 sacks of palay as of today. I told my mother to tell my katiwala in the farm to give me a rough schedule of the harvest date of all the farmers that have payables to me – para alam ko what's going on, and so I can track my wealth back home! All in all I am expecting around 200 sacks of palay including the proceeds from my own farm. Hehehe.
Also, the copra harvesting proceeded smoothly, I did not asked how much is the price per kilo is when they sold the copra, so I have no idea how much was the proceeds. And my transportation business, all the permits and renewals had been done. I told my mother, and my scholars back home to send me the end of the month statement soon; and please deposit all the money to my account, hehehe. Earning here, and earning there at the same time.
One of my scholars has asked for an increase of her daily allowance, so I doubled it. I got the means….so might as well make her happy and comfortable. One of my drivers which is a relative requested that his boundary be reduced since he is the one taking charge of the washing and maintenance, so I said, OK.
One of my nephews is graduating from Philippine Science this March, so I told my mother to put a fortune in an enveloped and pass it to him. He is going to UPLB for his college – I forgot to ask if he got an scholarship. My other nephew that is studying in PMA will be having his vacation next week – so I must never forget to make that phone call home, just to say hi…..kiddo, how's life in Baguio? Another nephew is also going to Baguio – kaya dalawa na sila doon. All I can say to them – good luck. I am glad they are not experiencing the poverty we experienced before.
Headaches
I granted one of my brothers' friends a big loan, for his sons' education. Six months later not a single payment had been made. My poor mother is getting upset, and I told her not to worry – its just money, I will collect it myself when I get back home.
Also, a friend of my mother obtained a big loan from me, and today not a single payment was made. Again, I told my mother not to worry about it. Hay….ano ba to, kong nangungutang, ang galing mangako, kong bayaran na, nagtatago, hehehe.
My mothers' advice to me: keep your money and do not extend loan again to people.
Me? Ewan ko, I have been helping people kasi as far as I can remember.
Habang meron ako, ako ay tutulong. Magbabayad din yan pagnakaluwag.