With all the financial chaos and uncertainity about the economy, we all need some stressing out to do. There is lot more mess to come out so take a deep breath and stay away from financial market for sometime. At this time, I just thought of lightining you all up by sharing a funny story. Some might have already heard but still good to revisit and ponder on. It emphazies one of the core aspect of being Money smart, “Spend wisely“. Read on and enjoy.
Story: Parking in New York (Courtesy: google) A gentleman walks into a bank in New York City and asks for the loan officer. He says he is going to Europe on business for two weeks and needs to borrow $5,000.
The bank officer says the bank will need some kind of security for such a loan. So the gentleman hands over the keys to a new Rolls Royce parked on the street in front of the bank. Everything checks out, and the bank agrees to accept the car as collateral for the loan. An employee drives the Rolls into the bank’s underground garage and parks it there.
Two weeks later, the gentleman returns, repays the $5,000 and the interest, which comes to $15.41. The loan officer says, “We are very happy to have had your business, 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 multimillionaire. What puzzles us is why would you bother to borrow $5,000?”
The gentleman replied, “Where else in New York can I park my car for two weeks for 15 bucks?”
Moral of the Story: Obviously, the multi-millionaire knows the value of money who spent it real wisely and innovatively. What a bargin? His car was safe for just $15.41.
Think about it, Ponder on it. It might be really true but it is innovative and teaches us a lesson. If a multi-millionaire can spend wise for just $15, you can do it too.