Would you urge your best friend to pay back the money?
Hello, Boylikegirl Club
What you are about to read is my sincere thought on the issue of lending your best friend money and requesting for it to be paid back. I will also share my thoughts on lending money to others.
But first, who is your best friend?
Best friends are individuals who are connected to you on a platonic level. They are the people you share your moments, burdens and secrets with. Oftentimes, your best friend could be your romantic partner. Either way, one thing is sure; when faced with financial challenges, they will most likely turn to you for assistance. What are best friends for? (•‿•)
While some best friends pay up promptly, others do not. In situations where the money is not refunded on time, requesting for it could bring strife or breed contempt and hate. An example is the case of a woman who sued her boyfriend some time ago for borrowing ₦1.6 million (approx. 5, 300 STEEMs now) from her for his business and failing to refund it 2 years after the deadline. 37% of that money belonged to her local church. It was a fund raised for a church project and entrusted to the care of the lady in question. Her partner's lack of integrity led to a lot of mistrust and bitterness. They broke up afterwards but this didn't heal the wounds she sustained. Neither did it replace all the money she spent filing a lawsuit or redeem the name that was tarnished.
If I were the woman, would I urge my best friend to pay back the money?
Absolutely yes! But in a kinder and gentle way. Empathy matters in every human relationship. As a friend, you need to understand the true state of the situation. _Is he experiencing any financial setback in his business? Does the economy have a role to play? Is it caused by his negligence? What steps can we take to save the situation?_
You could take a practical step like recommending side gigs that could help him raise enough money to pay up the loan.
I believe situations like these could be avoided if you do the following:
1. Give out only what you can afford
It's safer to take proactive steps like lending only the amount of money you can raise in 1-6 months — for the sake of your mental health. A rule of thumb is to lend out 10-15% max of your earnings. So if you make ₦50, 000 (approx. 160 STEEMs) monthly, you could lend out ₦7, 500 - ₦45, 000 (25 - 150 STEEMs).
2. Lend out only your money. It is risky to lend out money entrusted into your care to someone else. The lady who gave out the church's money to a trusted friend lost the trust of her church's elders instead.
3. Involve a good lawyer early on before entering into any contract that could cost you a great loss.
Final Thoughts
- True friends wouldn't make you ask for the money back.
- When lending money, give within your limits
- Remember to stay happy even when the situation goes south.
- There is always a way out of misery. Stay optimistic!
Written by @ukpono on 13 April 2024
Inviting
@rossnenye and @megareigns