How do you deal with people who are always asking for a money loan?
I simply state I haven't got it to lend. I truly believe lending money breaks friendship and family bonds, usually because people are lending money they really can't afford to be lending or the person who borrowed the money is taking liberties in the length of time they pay it back, or not.
Turn it in to a joke if it feels easier. Just ask " Do I look like a bank?!".
Usually, I say no.
If a person has a pattern of repeatedly asking for money, that means they either manage their money poorly or don't make enough money to handle their expenses, let alone repay debt. This means the odds of my getting paid back are low, and if the person seems to see me as an ATM, that hurts our relationship
I have been known to make an exception during emergencies...
I feel quite uncomfortable while asking for the return. There have been many instances where money just vanished.
One strategy for me is to make a small advance which the person never returns. That prevents from going for a bigger amounts!
Well, I usually do not have that problem because everyone knows I am broke LOL! But, in the rare case, if someone does ask me, I always try to give something if I have it to give. I know how it feels to need financial help and there have been people who have helped me out in my time of need.
Also, when it comes to money, I don't do loans because 1) I don't have a whole lot of money to loan in the first place and 2) I just try to give what I can to help out without expectations of getting the money back.
If I did have it to loan and the same person kept asking, I would just tell them I do not have the money to lend. It hurts them in the long run to keep giving them money when they ask. It will get to where they expect it and will be angry at you if you don't give the money and that's no good at all.
You can always tell them that you are not comfortable lending anyone money (if that is the case). Do not be pressured into giving money if your gut tells you otherwise; it is your hard-earned money after all.
Good question. I had to learn to say no.. It was the hardest thing I ever did. Because my nature is to want to help and give, but after a while I had to start saying no!
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