Using the Internet as a Finance Tool
WHEN WAS THE LAST TIME you wanted to find the answer to something, or wanted to find out who was selling something you wanted to buy, or what the current best-selling books or DVDs were, or what happened to your childhood sweetheart, or where the best diving reef was, or how to fix your obstreperous old car? If you have ever needed information on a product, place, or person and didn’t know where to begin looking, you probably tried the Internet. If not, you should have. The modern-day Internet is one of the easiest and most complete reference works in existence. It has expanded markedly in the last few years and is now a veritable encyclopedia of information. Of course, to find what you are looking for might take some ingenuity and creativity. To make the Internet work, you have to give Google or one of the other master search engines the right key words to search the sites.
You can buy or sell virtually anything on the Internet, from a house in Florida to a ten-year-old Ford, to a used book, to a ceiling fan. You can also get a loan on the Internet or find out where to go to get one. Every major bank now has a Web site that offers a plethora of services. You don’t even need to know the Web site address. Just give Google a bank’s name and a long list of Web addresses pops up. Try it. Give Google the name Citibank and see what you get in return.
As a financing tool, the Internet is still in its infancy, but it is growing fast. The main uses of this new finance tool are to get the following: