Borrowing Money to Make Money

So you have a plan. You are going to borrow $10,000. Pay back $5,000 within 2 months and the remaining $5,000 by the end of the year. Easy money here we come.

You finish the job. Now all you have to do is wait to get paid. 30 days pass, 60 days pass, then 90 days. Ok, so you didn’t payback the $5,000 within 2 months but you will pay it all back by the end of the year when you get paid. You start to wonder where your money is so you call your client. No answer. You call again. No answer. You find out that your client has filed for bankruptcy. Huh. By this point your bank is calling, you missed your installment payment.

Now what?                                    

The moral of the story is to bring to your attention the dangers of debt. You can do everything right and still lose. Now just imagine if you borrowed $100,000 or $1 million dollars. Don’t laugh, it happens all of the time.

That’s why I teach to never borrow money.

Book a session and learn about your money. You can do it, I can help.