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Funding a business
Is it wise to lend money to your siblings and relatives?
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[QUOTE="Alexandoy, post: 101338, member: 25510"] When I was younger I was so generous that it is easy for my siblings and relatives to seek financial help from me particularly in borrowing money. More often than not they do not pay me back. When they would ask for a favor again I had to refuse for obvious reasons but sometimes they still got the better of me. That’s how I learned that oo much compassion is bad for the finances. When I reached middle age I made a personal policy to stop lending money to anyone. Now that policy stands for more than 20 years and I am happy because I have prevented such problems in failing to collect the money they borrowed from me. It is not that easy to refuse extending financial favors but you will get the hang of it after several refusals. Always think of yourself that if you are the one needing then no one would help you. How about you, have you learned a lesson on lending money to people or are you still very generous with them? [/QUOTE]
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Funding a business
Is it wise to lend money to your siblings and relatives?
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