Borrowing

Lending money to friends and relatives

I came across this article today about a high profile actor suing his father and uncle for an unpaid loan.  It just made me smile, as it reminded me of some saying about never lending money to people you like or love, cus it can ruin the relationship.

Quite a few years ago, I lent some money (more like gave it, cus I don’t lend things) to a close relative in order to help their family move and get a fresh start in a city that had better employment opportunities.  So, I really had no expectations — I never would have given the money had I had expectations of repayment, because expectations breed disappointment.  So, I lent the money, and didn’t hear from that relative for a few years.  They didn’t have the money to pay me back in that time period, and so didn’t want to initiate contact with me, out of a sense of guilt.  Eventually, I received a card with a cheque with the money and a bit of interest all paid back.  Since I was upset with them for not communicating with me for that time period, I never called or responded to the receipt of the card.  Eventually, I received a phone call from them, asking me if I received the card and the cheque, and was everything ok.

I told them I was upset, and they were puzzled.  I said I’m not upset about the money — I’m upset because you chose not to speak to me as a result of it.  It was like I had done something wrong, and was being punished for it.  Interesting…

Would I lend money to someone?  No.  Would I give it away if they needed it, and I had it?  Yes.  It is not a difficult decision if the need is truly genuine.

To your prosperity,

Sue

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