Giving Personal Finance Loans

Giving Personal Finance Loans

In our lives, we sometimes encounter a friend who is in financial trouble and who badly needs loan. You lend to him with the promise hat he will pay his personal finance loans with you in a certain period of time.

But many times, the friend is unable to pay the loan, either because of mismanagement, carelessness,  or because more unfortunate things have happened in his life that made him really cash-strapped.

Some friends will just forgive the debtor and cancel the debt because they know that their friend is really in need and the best help that they can give is to do just that. However, there are really those who do not understand or who also need their money that in the end, the friendship is severed.

Additionally, there are really people who do not consider personal loans as a responsibility to be taken care of. They think that those who have more money should “give” to them because they are in need so they do not make it a priority to make a repayment. Or they just think that they can get away with it.  That is a really disgusting attitude that is why many people do not like to lend to others. They got burn by the irresponsibility and attitude of these people.

Now. if people really need money and they approached a friend, and this friend had bad experiences in the past, would most likely no longer lend money. Of if they do, they will lend an amount that they are willing to let go in case they are not paid. At least, they would not feel bad about it.

It is really sad how some people are so irresponsible with their debts. Sometimes, they are unable to pay because they just bought luxuries for themselves like new clothes, travel, Alpinestars Jacket, or even a new car. But they claim that they do not have the money to pay their debt. So that means that they have money, they just don’t know how to handle their money very well.

That is discipline in handling finances. So the next time you make a personal finance loan from a friend, make sure that you pay it on the date that you promised. If any means you cannot do so, be honest. The saddest part is when you lie to a friend just because you don’t want to pay. That is very irresponsible. You may lose a friend in the process.

One thought on “Giving Personal Finance Loans

  1. Peggy Bolling

    I’m one of those who says If I had all the money I loaned out and never got back I’d be rich. As a matter of fact my brother in law owes me money now but I’ve learned that if I intend on loaning money to personal family or friends that I should just consider it as a gift because chances are you won’t get it back. See by doing it this way I’m not disappointed when I don’t.

Leave a Reply

Your email address will not be published. Required fields are marked *