Lending Money to Friends and Family
- Thread starter AmazingJob
- Start date
It most times always ends in tears. It is better to give family than to borrow family.
- Thread starter
- #25
I understand. We have different perspective about lending money. However, I don't agree with the saying "Money is the root of all evil". Does it mean we are evil because we are here for money?
I believe the correct term is the "love" of money is the root of all evil.
We all need money but loving money is different from needing it.
I would lend money to my friends and family because I love them and of course, I would never ask the money back.
You just mirrored my thoughts. I dash out what I can not borrowing they hardly want to return it.
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- #28
Why it is so difficult for friends or family members to return what they have borrowed? Or don't give importance to what they have borrowed.
I don't know the reason why it is like that. Relatives takes everything for granted even money you borrow them. Life is a strange thing.
That is not lend but grant. There is a difference between grants and lend. What your friends might be asking for may probably what you can afford to grant.
You are right. In any case, I like giving. It makes me happy.
My brother borrowed 38,000 pesos and until now payment pending. It's almost 11 years, so I moved on and forgot about it. Many borrowed money from me even my ex. I'm a fool hehehe.
- Thread starter
- #33
So it is really not okay to be so kind all the time. I know you have learned your lesson.
It happened to some of my relatives and friends. They forgot having some loans from me. Since then, I considered a big lesson not to lend any of friends or relatives as much as possible. They can lead to serious misunderstanding that can hurt both parties.
When I was a new employee was tempted to start a new business. Since my capital was not enough, so I borrowed money to my best friend. He refused me and I was hurt. It's my brother who lent me 50, 000 pesos and my business succeeded. I bought a lot and sell it to a foreigner. I gained triple. Therefore borrowing money for a good intention is not bad.
There are some things that I value so much and one of them is family. That's the reason I avoid lending money to family. If I don't have spare money, I don't give them. It is better to be stingy than to be seen as dragging your family because of money.
