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What are loans? | by eric731
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What are loans?

This is a display at the Moneypalooza section of the Marbles Kid's Musem in Raleigh, NC. In simple, old fashion terms terms, loans are other people's savings borrowed by an individual to pay for cars or build businesses as the display says. But in reality, we know, banks are allowed to loan out more than what they have on hand in savings. And we know in reality, loans are not used just for worth while ventures such as cars or businesses, they are also used for mochas and clothing. Hopefully, the kids will learn to save rather than spend using loans.

 

Live humbly, Stay away from debt, and Give generously.

 

www.beatingdebt.org

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Taken on May 8, 2010