Have you ever had someone borrow some money from you and held it for so long, you got to borrow it back?. This is really something that I hate, some people are good at borrowing, and their tongues move faster than the speed of thought, they can pull up excuses out of thin air.
What's the best way to deal with people like this?.
We have experienced that many times. My husband used to be very generous with friends and relatives that's why we always set aside a budget for lending money. But when we noticed that we were being abused and that the non-payment of their debt to us is deliberate, we had set a policy not to lend money anymore. If we can help by giving them then that's it. But no more lending.
In general I don't lend money to people unless I can afford to never see that money again. Which I can't... so I don't lend money. (Truth is I have to manage my budget very carefully to meet my expenses.)
So when it comes to people asking to borrow money or for donations? I simply tell them I don't have it. It's really not a lie. I cannot afford to lose money that I'm depending on to pay my bills. I know people say "I'll pay you back" and maybe they will... but how long will it take? How often do I have to remind them? And do I risk whatever relationship we may have over it?
I have a friend who I simply wouldn't lend money under any circumstance. Doesn't matter if I had it to lose or not. I know they're terrible with money and easily forget things. So they'd forget they owe me money and I'd have to remind them 50 times before they pay me back. Plus I'd hear a variety of excuses along the way on why they couldn't. (Even though I know they'd go on about how they bought a new pair of shoes or went to a new restaurant. And I'd just be sitting here like: "Really? you owe me money and you're going on about how you went to a brand new restaurant?")
You need to talk smart, if you do not want to lose relationship. You can say that you do not have enough money for them to borrow or you have to use the money to solve your troubles. But I find that lending is not a problem for people I trust
I have let people borrow money before in the past. They never paid me back. Not one person ever did. So now as of learning my lesson. I don't lend money out anymore. I don't even give money to beggars on the streets.
