RE: Keep Your Finances In Different Places || Spreading The Risk Of Loss

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Most people in the western world don't need to worry about this, because they're deep in debt and have no money.
The rest of the world is broke anyway.
The 1 % are rich and they already know what to do with their funds.
Probably that's why they're rich.

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Most people in the western world don't need to worry about this, because they're deep in debt and have no money.

True, I often forget that in the western developed world people spend money they don't have and then have to pay it back later. Here in Suriname credit is not as easily handed out, definitely no credit cards (only debit), but many people are broke, meaning that they live from paycheck to paycheck and take out bank loans.

Most of the rich nowadays are rich through means of old money that keeps propagating itself throughout generations. For someone to become extremely wealthy from point zero in one lifetime is very difficult. But that doesn't mean they can't be financially well of.

!WINE

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Here in Suriname credit is not as easily handed out, definitely no credit cards (only debit), but many people are broke, meaning that they live from paycheck to paycheck and take out bank loans.

Credit from banks is indeed not for the general public, but I've seen that stores (Kirpalani's, Lucky Store and even those small local stores) used to give out "credit" to customers or rather let the customers pay later for the goods. Don't know if that's the case in recent years.

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Those business can take out loans because they have the assets (property, items they are selling, etc) to back up the loan. Usually that's the case.

!LUV !WINE

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