Why is it so hard to talk about needing money?

There seems to be a spectrum that exists for people who need money. On one end of the spectrum are those that think they can tell a bank or lender what their looking for and demand the terms they want. On the other end of the spectrum are people who don’t say anything and assume they are destined to be declined if they step out and ask a bank or lender for money. In either case talking about needing money can be very hard.  Why is this? Continue reading “Why is it so hard to talk about needing money?”

Banks want to lend you money (really they do)

I had meeting this past week with an accountant and we were discussing the Business Development Bank of Canada.  He did not have good things to say about them based on a past experience and as we talked through the experience a few things became evident that I thought were important to share.  Here are three (3) things to know if you are looking to borrow money (forgive me if they seem obvious): Continue reading “Banks want to lend you money (really they do)”

Would you borrow more if you could?

Seems like a strange question but if you could borrow more – would you?  Watching the news regarding the debt ceiling events unfolding in the US has me thinking about this question as it relates to individuals and businesses.  Many households hold an informal vote between spouses regarding the borrowing of money.  Many business partners will hold a vote regarding the additional of more debt to their balance sheet.  Just like the US government is trying to pass a much needed vote to raise their debt levels, it is important to remember that borrowing money means you are betting on the future or that you are spending your future today. Continue reading “Would you borrow more if you could?”