I do this too with 10 dollar bills
Aaron Crimson | 09.01.06 - 10:02 am | #

Great ideas Brian. I'd be very interested in how your local securities authority would view you charging interest on a payday loan to your mates though?
Stuart | Homepage | 09.03.06 - 7:10 pm | #

Stuart,

I think if you started it as a business, it would be a different story. Loaning money between friends wouldn't be anything that would get to that level. But I get your point.

- Bryan
Bryan Fleming | Homepage | 09.05.06 - 8:16 am | #

On that topic, you may consider checking out Prosper.com. It's a little new and scary right now, and you should definitely only use fun money, but it has a great deal of potential to unseat banks as the source for loans.

P2P lending. Catch the fevah!
Mastiff | Homepage | 09.05.06 - 9:54 pm | #

Mastiff,

I'll check it out. Interesting idea indeed! Thanks for letting everyone know about it.

- Bryan
Bryan Fleming | Homepage | 09.06.06 - 8:03 am | #

I have to agree with the original post about borrowing from yourself and paying yourself back. You really finance everything you do, whether it be opportunity cost by paying cash or by actually financing it through the bank. By paying yourself the interest you recapture the cost and interest of your purchase. I am more and more amazed at how this works every day. We actually run our "banks" through maximized and over funded whole life policies. Its advantages are endless and is really the best place to store your money. its worth looking into.
Jake | Homepage | 07.04.08 - 5:44 pm | #