My friend Monica

My friend Monica

Far too often people use consumer credit for current needs and wants. People don’t invest or save money, they use it to have fun.

My friend Monica is a good example. Recently, she lately bought a car for $2,000, which she paid for using a car loan. The car was not purchased for her to make a living, but instead was bought for her to get from point A to point B more comfortably. Then, she spent $400 on repairs, and “essential items” including, a CB-radio, CD player, and some other stuff. Monica is the type of person that will go into a store and buy a very expensive DVD player, then the next day wonder where her $100 went.



Needless to say, Monica’s loan disappeared very quickly. This type of excessive spending can be dangerous. In fact, Monica has already asked me for $80.

The question remains, how should you spend a $10,000 loan without spending it on lavished items? Simple, you can become your own boss and start a small business. For example, you can buy a car totalling $3,000. With the car you can buy warehouse goods, and sell them on eBay. This is only one example out of a multitude of possibilities. If you think about it, you will begin to come up with lots of options. Be creative, this is where the ideas start.



There are numerous ways that you can spend a loan, but how many of them can actually make you money? If you are financially stable, can pay your bills, and provide for the needs of your family, it may be a good option. Before spending all your money on frivolous things, think about the future, and the potential that a small business could provide!

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