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Ok so as I mentioned here, Smarter Wealth is changing its focus from a personal finance blog to an entrepreneurs blog.

Though some may think this is the same thing it is completely different and I want to give you an example how this is different.

Personal finance is often all about saving, investing, budgeting, and sometimes earning more money. It is about what you do with your finance once you get it. Entrepreneurialism is more about the getting of the money (not what you do with it after). See the difference?

Let me explain it to you with this example. I am looking to buy a new computer. Why? Because at the moment I am working on a 9 inch laptop which is tiny and is cramping my hands. Plus the processor is tiny and doesn’t do everything I need it to do. A new iMac is going to cost me $2,000 which I do not have. However, I am an entrepreneur and I am always thinking about the future.

A personal finance blog would NEVER advise you to take out a loan in order to buy the mac now. They would tell you to save up, buy it in 6 months when you have the money. However, on an entrepreneurs blog like this one I am going to say that taking a loan out to get it now is an investment not a liability.

If I take a loan then I will be paying $106/month for 24 months off this product. That is a total of $2,544 which I will pay over the 2 years (or about 13% interest). However, this will infact MAKE me more money. Why?

1. I will become more productive
Using this mac as opposed to a teeny tiny laptop I can be more creative and more productive, increasing my income exponentially. I would make a lot more than $500 in the next few months (let alone 24 months) by having this iMac now. So therefore it is a good investment.

2. I will have more cash to invest
In order to save up the $2,000 I need to buy the iMac I need to not spend that $2,000 on investments (like new website developments). If I take out a loan to buy it then I can use that $1,894 (minus the first payment of $106) to invest into new site projects, content creation etc and I can infact make a lot more money. You know the saying “You need money to make money.” Well for me making money online this is true.

Money means I can buy domains, host websites, pay for content and pay to list and sell my websites. More more means more opportunity and mroe profit.

So this is where personal finance and entrepreneurialism clash. Personal finance would tell you to never take out a loan to buy the computer now because you have to pay $500 extra over 2 years. But entrepreneurialism tells you to buy it now because even though you will pay $500 extra over the next 2 years you will make over $500 in the next month or two by having this tool, totally outweighing any extra expense.

So Mac Store here I come.

Do you disagree with me? Then let me know in the comments section