A bank is a place where they lend you an umbrella in fair weather and ask for it back when it begins to rain.
About this quote
- What does it mean?
- Banks lend freely in good times but demand repayment when trouble arrives.
- In plain terms
- Banks are generous when it’s easy, strict when it’s hard.
- What can you take from it?
- Beware of easy credit that becomes burdensome later.
Where it applies
Putting it to work
Questions to consider
- How do you assess the true cost of credit?
- What safeguards can you set before borrowing?
Another view
Not all banks act this way; some offer flexible terms.
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