Day 116 - Borrowing Money
I wish that I could tell you to never borrow money from anyone; that would be the safest thing. However, life is full of surprises, and sometimes unavoidable events place us in situations that we would rather not be in, but we are. One of these situations is when we need to borrow money. Borrowing money from others is a delicate business, and if it is not handled with extreme caution, it can lead to broken relationships and hurt feelings. Here are some guidelines that I hope you will consider if you ever need to borrow money, especially from your friends or family:
- Before taking any money, both parties should agree upon the repayment schedule and terms (how, when, amount and any other details involving repayment) of the loan.
- Money should be paid back on time and according to the previous agreement.
- A gentleman should never borrow money from a lady.
- Be honest about your circumstances.
- KEEP YOUR WORD.
I have witnessed family relationships torn apart because money was borrowed and never repaid. Please be cautious, and make sure you can keep the terms of an agreement regarding borrowing money. Our relationships in life are our greatest treasures. See you next time.