Money Is for Sale
How we think about something often determines how we interact with it. This is especially true about money.
Most people want more money. But having more money does not make most people happier. It fails to do so because there’s no magic in money. It holds no eternal value. It can bestow nothing of true value upon those who possess it. Money is just money.
Few people think of money as a product that can be bought or sold. But money is exactly that.
Banks do not give money away. Banks are in the money-selling business. They sell it in the form of loans.
When you borrow money from a bank or other lender, you are actually buying the money. What you pay for it, the cost of money, is the difference between the amount you borrow and the total amount paid over time in the form of interest and costs.
Of course, some money costs more than other money. If one lender “offers” you an interest rate of 8.75% to borrow $100,000 and another lender’s rate is of 6.0% (all other terms being equal), buying money from the first lender will cost you more.
A quick way to compare 135 loans at once is to use the LoanSpread Loan Comparison Calculator. The LoanSpread(tm) calculator makes the cost of money obvious and LoanSpread’s Loan Summary feature shows the details of the costs.
Smart people shop around for the best price when they make a purchase. It’s amazing, however, how many people don’t do the same when they’re buying money. Remember, money is for sale. It’s always wise to shop around for the best price. And LoanSpread(tm) makes it easy to understand the cost of money.
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