Think Smart!
 A man walked into a bank in New York City one day and asked for the loan officer.
He told the loan officer that he was going to
Philippines on business for two weeks and needed to borrow $5,000. The
bank officer told him that the bank would need some form of security
for the loan.
Then the man handed over the keys to a new Ferrari parked on the street in front of the bank.
He produced the title and everything checked out The loan officer
agreed to accept the car as collateral for the loan.The bank’s
president and its officers all enjoyed a good laugh at the guy for
using a $250,000 Ferrari as collateral against a $5,000 loan.
An employee of the bank then drove the Ferrari into
the bank’s underground garage and parked it there.Two weeks later, the
guy returned, repaid the $5,000 and the interest, which came to $15.41.
The loan officer said, “Sir, we are very happy to
have had and this transaction has worked out very nicely, but we are a
little puzzled. While you were away, we checked you out and found that
you are a multi millionaire. What puzzles us is, why would you bother
to borrow “$5,000″.
The millionaire replied: “Where else in New York City can I park my car for $15.41 and expect it to be there when I return”
Well thats how the rich stay rich, they know a lot more about Money
Management.
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