How to use other people’s money

© Omokaro Efeobome. All Rights Reserved http://talk-about-wealth.blogspot.comWhat do you understand by other people’s money?Other people money (OPM) is the money you borrow from banks, friends, Organization or your family members. But the best of all is the one you borrow from your family members or your friends.
Nearly all business, small or big from one time or the other need to borrow money for one reason or the other. Be it for buying material that the company needs to keep it running, buying landed properties or individual for investing, such as Real Estate bond and stock. With the high interest most bank are placing the loan, it will not be appropriate for a beginner to start with the banks but if you find a bank with a low interest rate then you should go for it. There are some organization which can give you money to invest in most case their interest rate is not too high but some are high but peradventure you find one that is affordable collect it and buy assets with. I know if you are fortunate enough to have a friend who can borrow money to invest with, men you have got to be smart because your friend will not be demanding for high interest rate. You might be lucky he will not even ask for interest but you must be careful with the money because if you miss use it, it might jeopardize other opportunities.
That of your family members is as good as that of your friend all you need to do is to convince them of your business idea and with a good business proposal. You can rake in millions with other people money. You can become a millionaire with other people money if you understand how money works and how to make it work for you.
Go for soft loan if you don’t have friends and family members to borrow you money, please don’t take loans without you knowing every details surrounding the loan. Loans can make you super rich but it can also put you into debt traps. So before applying for any loan makes sure you know the pros and cons of the loan.
You should be able to show those who want to grant you the loan, how you are going to repay the money, also you should comply with the payment schedule specified by the lender of the loan. Any loan you are able to raise be it from the bank, organization, friends and family members make sure you seek the help of experts in the areas you want to venture into.
Take risks but it must be calculated risk.
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How to be financially secured

© Omokaro Efeobome. All Rights Reserved http://talk-about-wealth.blogspot.com

Being financially secured will be one of the easiest thing or plan to execute if you are willing because “where there is a will, there is a way”. Most people are the cause of their problems, they don’t think and if you don’t think you stink and those who think don’t think positive. Most people don’t know that what you cannot see you cannot have. Is a high time person known that riches begin with the form of thought?

Make sure that part of all you earn is yours to keep, with that you can be rest assured that your financial plans will be fulfilled. What do I mean by part of all you earn is yours to keep? Don’t you buy drinks, shoes, sandals, caps, belts, wrist watches, suites, cars, etc. And don’t you pay for them? It is not that you should not buy all these things but first pay yourself. As you collect that salary or that profit from your business, pay yourself first. I know you will be wondering by what I mean by paying yourself, it does not matter how big or small your income is, always pay yourself first, that way your portfolio will be enlarging.

To pay yourself first is to always take out 10% from your total income and invest it. Look for an expert in the business you want to invest your money on because that is the only way you can expect return on the capital.

When you have consulted an expert and you started the investment, you must not eat up your profit or your capital. For you to be financially secured, your money needs to work for you and the children and grand children must continue to work for you. If you are able to stick to this plan, then you are going to be financially secured in no time.

You must start paying yourself today, because that way your dreams of becoming financially secured can be accomplished. These businesses will help in securing your finance. But seek the help of experts. Mutual fund, Real estate, stocks, bonds, and royalties from intellectual properties such as Patents, music, scripts or you can also divert some of your funds into offshore banking. Because it yields high return on investments.

By moving some of your funds offshore, it gives you opportunities to some very profitable investments that are not available to you in your country. In this global dispensation, virtually everything is within your reach so take advantage of this globalize world.


© Omokaro Efeobome. All Rights Reserved http://talk-about-wealth.blogspot.com