Tuesday, April 16, 2013

on the other hand, some good news

OneMain Financial took a look at my bank records and credit rating, concluded that my financial condition had improved a great deal from last year, and approved me for a $7000 loan. Of course, they're charging me a wallet-raping interest rate, but if I get a decent-paying job and spend my first year or two in Korea paying down the loan, I won't have to suffer the full, frightening consequences of paying everything off in 60 months.

For now, this means I've got a solid buffer during my month in Korea, when I'll be traveling around and not earning money while my revolving debt continues to revolve. That's a good thing, that buffer. It means I won't need to pick up any illegal work.

I went iPad-shopping this evening at the local Wal-mart and saw iPads and iPad Minis ranging in price from $299 to around $560, depending on screen size, memory, and other factors. I deposited my $7000 check in an ATM tonight; I don't expect it to be cashed until Wednesday, at which point I ought to be able to purchase whatever I damn well please. Of course, the lesson here is not to be greedy: this is loan money, after all, and if it disappears too quickly, I'll be left with no buffer and huge debt. So prudence is the order of the day.

Stuff that'll need doing:

1. pay my buddy Tom $400-$500 for the extra costs attached to his purchase of my plane ticket (fuel surcharge, etc.)

2. change the car's tires (vibration's getting scary)

3. buy that iPad (sorry, Windows and Chrome, but I want something Mac-compatible)

4. buy that plane ticket from Seattle to DC

5. buy and install programs in the iPad (might do this while in Korea), like Photoshop Elements and MS Office for Teachers and Students

6. use $$$ to defray cost of monthly bills (rent, electricity, scholastic debt, car payment, ISP, phone, etc.)

$450... $280... $500... $450... $300... $780... $70... $250... $215... $75... $160... yikes, that's a lot of money to spend in a month. Over half the loan, in fact. I'll be getting some income, of course, but will it be enough to defray all these costs? Only time will tell.



John McCrarey said...

Notwithstanding the interest rate, I'm sure it's a relief knowing you'll be adequately funded.

I really wish you had gone back to PNC and said, "Um, can you cash this for me?"

Charles said...

Yes, as John said, that is quite a relief to hear!

Anonymous said...

Addofio here.

If you expect to be doing any extensive writing on the ipad, I strongly recommend the Bluetooth keyboard too. Don't know what it costs now, but it used to be $70, and well worth it. The on-screen keyboard is find for a paragraph or two , but nothing like the real thing for longer stuff.

And good luck in Korea--I'll keep my fingers crossed for you.

John from Daejeon said...

That's some good news about your financial situation.

In regards to #3, the thing I hate most with Apple computers, and tablets, is the lack of memory that comes with such high prices.

I value value over aesthetics and fanaticism. Likewise, I'm no fan of Samsung, but Newegg had a deal today for 1TB laptop hard drives for $60. I immediately bought two for $119.98 without having to pay tax or shipping. Now, I can just add a bare drive into the extra hard drive slot in my HP Pavilion. It may not be flashy or cool, but 2TB beats 64GB any day of the week in my book. 2 terabytes in one laptop is pretty mind-blowing and all (including the orginal 17" laptop) for less than 1 64GB version of an iPad.

By the way, if you have 30 minutes, the BBC Panorama North Korea Undercover video should set your mind at ease about coming to South Korea. I can't even being to describe it, other than saying that Rod Serling couldn't have made a more compelling episode of "The Twilight Zone," and sadly, this is no fiction. You might have to download it, if you can't watch the BBC video from the U.S.