MoneySkills with Nelson Letshwene

Money & the psychology of money

Why Do People Want to Lend You Their Money?

“Opportunity is missed by most people because it is dressed in overalls and looks like work.” Thomas Edison

Why is it that so much of the world is eager to get their money into your pocket?

The World Bank and the International Monetary Fund (IMF) are trying to get their money into the pockets of countries around the world. Banks are trying to get their money into the pockets of businesses around the globe.

Financial institutions that used to focus only on your protection like Insurance companies, are now in the lending space, eager to get their money into your pockets. Mind you, this is the same money that you have contributed to them as your premiums for protection. Now they want you to borrow it.

Banks and other financial institutions have intensified their marketing efforts to get you to borrow their money. Micro lending organizations are popping up everywhere.

Even if you are already in debt, many companies are still eager to have you put their money into your pockets.

What is in your pocket that so many institutions would like to get their money there? What do they see in there that you do not see?

There are really two important things that the world of lenders would like to take from you: your earning potential and your assets.

If your earning potential can make other people rich over time, why would you not use it to your own advantage?

Graduates don’t have assets other than their earning potential. Lenders load them up with loans so that over their life time, they can labour for these financial institutions.

Those who have assets have collateral, and lenders would like to get their claws on these hard earned assets.

Countries with natural resources get loaded up with World Bank and IMF loans and end up losing not only their resources over time, these institutions even use the country’s labour resources to get their money out. They claim they are creating jobs, but people work for them to get the country’s resources out. These people end up poor at the end of their lives because even they are loaded up with personal debt.

In John Perkins[1]’s book, we learn of dirty secrets of how the world would like to own your resources.

If you are caught in this web of other people’s money, it is important that you free yourself as early as you can.

In my  book, The Money Field,  you learn about the tools of debt or instruments used to bring other people’s money into your pockets. It goes on to show you the structure of debt, or what the trap is made up of so that you can disentangle yourself easily. It then discusses strategies for eliminating debt and staying out of debt, thus keeping your own money working for you, instead of it working for other people.

You have enough resources over your lifetime to make yourself wealthy. You do not need to be in a hurry to take other people’s money. You need to be smart enough to employ your own money and resources to enrich your own life.

I hope this installment of the third book in The Money Field Series will enlighten you and help you to take charge of your economic power.

[1] John Perkins, Confessions of an Economic Hit Man, Penguin, 2004

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This entry was posted on March 17, 2017 by in Uncategorized.

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