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Be a banker yourself and make some money.
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singaporegal
Supreme |
10-Sep-2007 21:14
Yells: "Female TA nut" |
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Hmmmm.... I don't really like the idea of borrowing money from friends/colleagues/relatives for investing purposes. I may be old fashioned but I believe in keeping money matters separate from personal relationships. Money can always be earned again but relationships, once soiled, can never be the same again. Just my humble opinion. |
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Centaur
Veteran |
10-Sep-2007 15:07
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Once the issue of borrowing money pops out, you'll realised that friends and relatives start to avoid you.. Can do these a couple of times but once it becomes frequent, pp will treat u like pest.. Even if you pay them interest, they will still feel shortchanged knowing that they can get better returns thru fixed deposits. Last time, i heard someone actually borrow to invest in stocks and commodities and in return pay interest which is higher than fixed d but lower than interest brokerage house charges.. its like playing margin with lower interest. |
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rickytan
Veteran |
10-Sep-2007 14:48
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Thank you Pinnacle. No worries as the loan is interest free... it is just out of goodwill (since she needed money yet got no capital to exercise the share option). |
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Pinnacle
Master |
10-Sep-2007 13:11
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For your information, it is illegal to earn interest from the $$$ you lent out without license. Even for small amount. Maybe for 1 or 2 friends, with goodwill, you return with a bit of interest is ok. But if the deal get larger with more parties involved, then you are at the wrong side of law. |
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rickytan
Veteran |
10-Sep-2007 12:48
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True..... Guess what happened a week ago ? My staff did not exercise her share option cos she got no money. I offerred to give her a loan so that she could exercise the share option (as it is definitely in the money). She was very surprised :) |
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Pension
Elite |
09-Sep-2007 15:33
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to borrow from your boss, you must are an asset to the company and working on an important project. you hold his ball professionally and sure he will lend you some money because he scare you resign. |
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rickytan
Veteran |
09-Sep-2007 14:59
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A good way to make some money.... But I dont think people will do that especially so to borrow from your boss man. Normally people will only borrow money as a last resort or when you are desperate :) |
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Pension
Elite |
09-Sep-2007 12:17
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Bank can do it, you can do it oso. Bank do it in big way, you do it in small way and one fine day you can do it in big way. Do it legally to avoid trouble. Step one. Borrow money from your friends,boss,girlfriend,boyfriend and relatives, they do not charge you interest, and put it in the bank to earn time deposit. After the expiry of the time deposit, cash out the money and interest, return to your friend and relative promptly with a bit extra. Word start to spread and everyone will start to lend you money if you borrow again. Do not borrow from loan shark or bank, they charge you interest. |
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