Double To A Million Plan: February 2011

Double To A Million Plan

Double Your Way To A Million
Starting with Nothing, Ending with a Million Dollars.

Author: Xinfinitum

Wednesday, February 02, 2011

Who is the Best Source of Personal Loans?

Most people never see it coming. An emergency comes up and within a few seconds they are out of cash. It could be a car accident. It might be someone in the family who is in desperate need. Or you figure out you need a mental health break with a trip somewhere. All require cash, perhaps dollars that do not exist in a bank account after paying bills (or maybe even before). This is a time that calls for personal loans – but where are the best places for finding personal loans?

The money could come from a credit card. But maybe that’s not an option for you (and it’s not always a good option anyway). You might need to make some calls or send some emails. Consider your options:

  • Borrow from friends or family. No one wants to owe money to their father, sister or uncle. And it can get even stickier when you owe cash to a friend. If you do borrow money from any of them, be sure to write up a note that explains the debt, when you’ll pay it back and how much interest they will get from you. In the meantime, be very, very nice to that person.
  • Borrow from “that guy.” Some might call him a loan shark. He’s just the guy with the cash and the plan for lending it to you. He’ll charge a lot more than any legitimate source of funds (except perhaps your sister?), and you better be sure to hit the repayment date on the nose – else you might get hit back, on the nose.
  • Borrow from yourself. Huh? How do you do that? Actually, one of the best sources of personal loans are from a paycheque cash advance. This is where you borrow up to $1500 (depending on how much you earn) from the lender (an online personal loans company). You promise to pay it back via an account debit on a certain date in the near future (after you get your next paycheque).
In any case, you have options. Choose carefully!

This Double Your Way To A Million Blog is based upon the Doubling Method "How to Double Your Way to a £Million in 28 Steps". Using the Doubling Rule it is an attempt to "Double Your Way to a Million" by going from one penny to a million dollars, starting from nothing. At the beginning you start by finding a penny and then double a penny until reaching $1,000,000.

Double Your Way To A MillionHow to Double Your Way to a Million in 28 StepsD.T.A.M.P. - Double To A Million Plan
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