There is a infamous anecdote about a billionaire who went into a New York bank asking for a $5,000 loan, and put his Bentley up as collateral. It was approved, and the bank employee parked the car in their underground garage.
Two weeks later, the man returned from vacation, and paid back the $5,000, plus the $15.41 it accrued in interest. When asked why he, a rich man, would require such a small loan, he replied "Where else could I have parked my car in New York City for two weeks, for only $15?!"
The story isn't real, but the strategy definitely is. This is how a billionaire would actually think about such a situation. Sure, they can afford the finest parking in the city, but why pay through the nose for it when they can get it for almost nothing? You can think the same way. What are you paying for, right now, that could be reduced in cost? What ways are there to save money on everyday purchases?
The story isn't real, but the strategy definitely is. This is how a billionaire would actually think about such a situation. Sure, they can afford the finest parking in the city, but why pay through the nose for it when they can get it for almost nothing? You can think the same way. What are you paying for, right now, that could be reduced in cost? What ways are there to save money on everyday purchases?
https://www.wisebread.com/how-to-think-like-a-billionaire-when-you-re-broke
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