3 Reasons Why I Never Loan Money (Unless You Want To Go Broke)

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Mail:
Anton Daniels
P.O. Box 27
Union Lake, MI 48387

#Loans #Relationships #Money

[louisianabornandraised]

I've been burned too many times. You have to learn how to say no. They have to change behavior

[ogbobeatstvsneakersnewsstocks]

I hate pocket watcher so bad and it’s always friends and family. Don’t do it.

[handleyobusiness]

Anton is right, don't do it. I co-signed on a car and it was the all time worst choice I ever done, extremely stupid. Give gifts, not debt. Debt ruins relationships.

[forestgump]

"money lent to a friend is recovered from an enemy". Caribbean proverb 😎

[stevenedwards]

Anton is spot on. Remember, the borrower is Slave to the lender. Loaning money to loved ones and friends changes the dynamic.

[ryanlee]

I lost a friend of 13+ years like that. I didn’t even pressure for the money. All I said was pay me on time like your “other” investors. A 9 month loan turned into 5 years. And not even thank you.

[phobedavis]

Keep an eye out for the warning signs. A coworker came to me and said well you have student loans to pay. I said "I don't have any student loans". Two weeks later, after a lot of rambling, I determined she wanted to borrow money. The explanation was I do not lend to or borrow money from friends or coworkers. This woman is married and I'm single. Of all the nerve.
O

[KevinRobinsonJr]

Real talk! I’ve cut off a few people over me letting them burrow money.

[Supreme-sxtu]

When you loan out money?
Be optimistic but at the same time
be prepared to take a loss on the money

[theshopopentho]

only time i loan money is when i want to get rid of someone

[gabodds]

You are totally right; I loan money to family; I can kiss it goodbye

[ldwalker]

Anton it one thing that I cannot stand is lenning people money and have to go back and ask for it I stopped Lending people money

[ConsciousCloud]

Very good advice cos it never really ends well when it comes to loaning to friends or family. I will usually get it back if I loan money to my sister or mom and most of my friends, but I do have one friend where if I loan him money I know 100% I will never see it again lol. He lives literally paycheck to paycheck and has absolutely no wiggle room for anything else and since I'm doing better financially I guess he figures I can afford to help him out every other month without him having to pay anything back and that's just not cool. I no longer loan him money and just tell him I can't or I need my money for bills. I think friends and family who do this who aren't doing it intentionally don't realize that they're taking advantage of you unconsciously.

[robertthompson]

All facts, my godson hit me up TODAY for some money. Had to tell him, I got it, BUT I’m also married. And I wanna stay married. I’ve talked to many family members, about better ways to handle their 💰. But in our culture, it’s in one ear, & out the other. And like you were saying, you’re hitting me up, cause you feel like I got it. I haven’t spoken to my godson in FOREVER. I can tell you how to level up, so you don’t keep having this issue, but your emergency is not my problem.

[jaayeee]

This advice needs specificity...don’t loan money to people who need money for “personal” needs (bills, rent, credit card payment etc.)

Only loan money to people in growth mode who need gap loans (flipping houses, making payroll until accounts receivables come in etc.) You should be willing to loan money to friends who are growing financially and need a little help...always with a return on investment.

Much of the worlds money is made by loaning money. It’s very lucrative.

[essb]

Kevin O'Leary(aka Mr.Wonderful from Shark Tank) Said:

"When people(family/friends)ask me for a loan...I say no! But, I'll GIVE you the money, on one condition. That you NEVER ask me for money again. That's the contract for this gift."

When you think about it, that's very smart.

[andredixon]

Anton you are on point on all situations when folks “expect” yours that get me a bit bothered. I’ll give a gift all day however if I loan you anything it’s reasonable to think just as you came and asked for it ( like the neighbors who borrowed your lawn mower two weeks ago) you come to me and give it back.

[Priinsu]

I gave my cousin $3000 toward a down payment on a home she and her husband were trying to get because I wanted their children to be in a nice area. My cousin had a falling out with my mom and she cut me off too, blocked me on everything, and stopped talking to me. I had nothing to do with any if it.

Now I masquerade as a broke dusty, I don't have any money, don't ask me for nothing.😑

[nqobiledladla-yodb]

They delay paying and make excuses.
Some bluetick you when you try to reach out.
Some pay half.
It's just a messy situation.
I'm never loaning money to anybody again.

[tahntalus]

It is true, A man can give himself to Poverty...