Become your own credit card for others. Some people need money to invest in themselves. To start up ideas with capital they may not possess in hand. So, if you have the money to lend out, an IOU is worth a great amount. It cost you nothing to lend money out with contracts, trustworthy people and smart investments. If you lend a person $1,000 and tell them to pay you back by such and such a date with an interest of 15%, you’ll make great total of $150 on top of your loaned out money.
That’s just an example, but I am sure you get the picture. Find people who are looking to buy things, or need a little extra cash. Another great way to workout an IOU is through investment parties, or gatherings. Listen around to see what kind of ideas are out there. Tell people starting up a business that you’ll have them with their start up capital. In exchange for this money you will be paid back 15% on top of what you loaded out and they have to pay you 10% a month for whatever profit they make. That is a great way to get two solid assets in one strong swoop.
A great deal of advice is always be wise with these investments. Just like credit cards, you’ll find yourself running after people for your return. A smart way to make sure you get your money is through trusting the people second. Yes second, first is a contract that states they are going to pay you back by a determined date or be forced to pay said penalties. I’d add to that, that any moneys not paid are agreed to be garnished from that person’s paycheck.