equity
Use your equity to invest
I previously talked about equity in “use your equity” and looked at using equity to minimise your interest costs. Here, I’ll take that a bit further and talk about leveraging on your equity to hopefully improves your wealth by using that equity to invest.
Use your equity
The other day a friend asked me to help her with a personal loan to pay for her upcoming wedding. She applied for a personal loan with one of the major bank. The loan was approved and the rate offered was something like 14%. My friend was happy to accept the rate but the bank wouldn’t release the money because they wanted receipts to prove that she is spending the money on the wedding! The bank wouldn’t just give her the cash. Very frustrating when you’re planning a wedding! She asked me what she can do to get the cash without having to go through with all the trouble of receipts and bank cheques.
