Loans : Good or Bad?
Filed Under General Nonsense
Since I passed-up the first time I was offered to invest, I made sure that it won’t happen again the next time. Christmas is just around the corner and for sure, I need funds for the season. I applied for a small personal loan that I’ll invest when the opportunity comes.
According to Mr. Colayco of the Colayco Foundation, borrowing money is not bad. Actually, it empowers the borrower. It creates opportunity. It is the mindset of the people that’s not good which put some people in huge debt. The mindset common to many Filipinos is that the borrowed money is considered theirs when in fact, it is not. Loans are loans. You have to pay them and make good use of the money.
And what’s the best way to use that money but invest and invest I did. It will return on the first week of December. It’s not a big investment but is good enough to earn something extra. The proceeds of this deal will already cover the whole year interest of the loan with some excess. That means all the proceeds on the subsequent deals will already be considered profits. If given a chance, I can use the loan six times in one year and if the average profit is 16% per deal, that will almost double my money in a year.
The prospect is very promising indeed. I’m just hoping that I’ll be given more chances like this.