Surely each of us has been in a situation when one of our relatives or friends asked to borrow money for them. It is extremely difficult to refuse a person who is not a stranger to you. But this does not mean that you should do everyone around you a favor, sacrifice your plans, put the comfort of another person above yours. Moreover, your desire to help can play against you. We have collected several reasons why you should lend to family and friends as little as possible.
Debt spoils relationships between people
Money spoils relationships even between the closest people. You can lend to a person who will take it for granted, will not rush to return the amount received, will try to borrow from you again without having time to pay off the previous debt.
Naturally, after a series of disappointments, you will gladly decide to erase such ungrateful people from your life. After all, why keep those who do not fulfill their promises in your environment, demand more from you than he can offer himself, and do not appreciate your good attitude.
You can never be sure that the money you borrow will benefit the person
They may promise you by an oath that the money you borrow will be used to pay off loans, buy groceries, expensive medicines, etc. But in reality, you can never be sure that you know what the other person will do with your money.
For example, your money may be spent on alcohol, gambling, and some dubious goods and services. It is not certain that a person addicted to anything will ever be able to pay you back what he or she has borrowed from you. In addition, in the future, when you find out the real reasons for the person’s sudden need for money, you can blame yourself for having negatively influenced his health or lifestyle, even if indirectly.
The debtor will be sure that you will forgive him for non-compliance with the agreements
A person who is part of your close social circle, having borrowed money from you, will be sure that you will forgive him for non-compliance with agreements. Your friends, relatives, and close people mean that he does not have to deny himself in many ways to return the necessary amount to you day in and day out. So if you lend to a person who believes that you are not strangers, forget everything that you agreed on earlier. Most likely, your money will not return to you soon.
Your kindness will be taken for granted
If you constantly lend to your relatives or friends, then over time, you will face an unpleasant event: your kindness will cease to be perceived as a spiritual impulse. People who are accustomed to the fact that you always help them out for a good reason and without it may begin to demand money from you even when you have no desire or opportunity to help them.
At this moment, insight will descend on you: from a loved one for your family and friends, you have turned into a money-making machine, into a bank that is ready to give them money for any period without interest. It will be unbearably painful to come to terms with this thought, as well as to give up the role of a good person for those who are dear to you.
You will increasingly deny yourself spending
When most of the money you earn is with your family and friends, you find it extremely difficult to make more or less major unplanned purchases. You will gradually begin to deny yourself the usual things, avoid demanding your money back and avoid appearing greedy and insensitive.
Your quality of life will inevitably decline, you will rule out everything you can do without for a while, and you won’t feel secure because you won’t have a financial safety net.
Borrowed money may never come back to you
It doesn’t matter who exactly you borrowed money – your relative, girlfriend, or longtime friend, circumstances can be different. Your loved ones can start borrowing small amounts from you, quite harmless for your budget, and then increasing them several times.
Of course, if a person always gave everything on time, your vigilance will be put to sleep, and you, without a shadow of a doubt in the supplicant, will lend him a large sum, which you counted on in the near future.
Remember that neither the receipt nor the oath promises and the presence of the debtor’s telephone number and address can guarantee that he will return the money to you. People are great at blocking each other on social networks, disappearing from the map, changing rented apartments, etc.
Relatives and friends can be very enterprising when it comes to repaying debts
Relatives and friends can be extremely adventurous when it comes to paying off debt. Instead of money, they may try to give you food, furniture, building materials or offer to provide some services that will be used to pay part of the borrowed funds. Of course, the situation is not pleasant, and it will be pretty difficult for you to explain to a person that you need money.
Your kindness does not guarantee the same attitude towards you
Of course, the most offensive thing is always to try to help out loved ones by giving them your last money, and in return, not receiving even ordinary words of gratitude. The worst thing is when you yourself find yourself in a situation where you urgently need money, but everyone around you shrugs and says that they cannot help you.
You understand that your kindness has never been appreciated at such moments, and despite your good attitude towards your loved ones, they are not ready to repay you in kind.