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. All the millionaires I have met in my life were penny
wise. Look after your cents and the Dollars will look after
themselves.
(Source: Nurul and the gank........)
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