Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. Money has power over many things. This is the only resource that people have always hustled to get in their life. Some people get money through dubious ways while others get it through clean ways. Lending money to people can be a tricky thing to do.
However, there are some people you shouldn’t lend money if you know you really need the money back cause it might take long before they return it or they might not even give you back for life. Not saying you shouldn’t lend them though, but make sure what they are using it for is compulsory. Below are the types of people you shouldn’t lend money if you know you’re not ready to dash them;
1. People With Bad Debt Record
Some people have loans almost everywhere. This makes them bad for such kind of businesses. Avoid lending this kind of people your money because they won’t pay back, or they will pay, but not the amount or payment terms you agreed on.
Lending money to friends is a tricky thing to do. When a friend fails to pay back, this can easily destroy the good relationship you have been having. He/she will want to avoid you because of the debt they owe you.
3. People With Certain Addictions
People with addictions will never remember to pay their debts since they will always mind their addiction more than anything else. This will make it hard for them to pay back whatever cash they owe you.
4. People You Date
Lending money to people you are in a relationship with will only compromise your relationship. If your partner wants money from you, it’s good you just give it to them and never expect it back. However, it shouldn’t always be a large sum of money.
5. Family Members
Same as friends, lending money to family members can also be very tricky. Some family members might want to use the relationship they have with you not to pay whatever they owe you. Some will come for help knowing very well they won’t pay back.