Nowadays, the economy is not doing well as it used to be before. You may have thoughts of quitting on life. You may have overheard people talkin...
Financial problems seem to haunt everybody. You see people going to lending companies to get financial aid. Some people’s credit card balances have skyrocketed. Indeed, times are getting rougher and tougher these days.
What do you do, when a friend or a family member needs financial help? What if they sought to ask you for help? You do have the money. But how willing are you to help?
In the long run, lending money to a friend or a family member opens up a lot of new possibilities that you may not be in favor of. It leaves you feeling confused whether you should lend them the money or not. If you lend an amount, your relationship with the person is not at risk. If you choose not to, your money is yours but the relationship status is in danger. Whichever option or decision you choose or make, it would all result to a catastrophe.
Many relationships have been destroyed because of financial problems. When a friend or family member woes you money, your interactions between each other would change. A person who owes you money runs errands for you and does whatever it is that pleases you just because she owes you money.
In the same manner, you have the tendency to take advantage of the fact the he or she owes you. You might impose a lot of thing on this person because you feel bossy towards him/her. You readily expect that he/she would be doing everything to please you.
All the more, if your friend or family member is unable to pay, the relationship would be stained forever. Because the borrower is your friend or a family member, you’ve got to expect the worst scenario; you will never be paid back. If it’s just a small amount, it’s nothing. But if it’s a large sum of money, it’s a big problem. It might even lead you to become the worst enemies of all time.
Friends and family members would take advantage of your closeness. They think it’s alright not to pay you back because of friendship and family ties. On your part, you would rather murmur about your heartaches and disappointments on your own, than risk the relationship. Because you would not ask for the payment, they would again think it’s alright to keep on borrowing money from you because you never say a thing about it.
You might also be encouraging them to make this a habit – it’s alright to borrow money from other people.
It really is hard to choose which action you are going to take, whether or not to lend money to them. If you choose to do so or not, it always ends to something undesirable.
Thus, it’s good enough to have your friend or family member sign a legal form or document. This way, you can state there in the form that they shall be paying you back.
This legal form is your instrument in determining their word-of-honor!
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