Lifestyle

3 types of people you need to stop lending your money

Improve your connection with money and avoid lending it to unreliable borrowers.

For certain people, lending money is akin to causing oneself problems.

Have you ever lent someone money and then run into issues with them when it comes time to repay the loan?

If not, I hope you are spared these days from encountering a persistent debtor.

See, you’re going to have to say no to certain people’s requests for loans if you want to take your financial situation seriously in the upcoming year.

You don’t know them? Here they are.

1. Forgetful friends

Forgetful friends will always struggle to remember they are owing you.Forgetful friends will always struggle to remember they are owing you.

Those friends that can’t remember your last conversations with them or those that always forget their wallets at home should not have anything to do with your money next year. Don’t loan them a kobo because they’ll always forget they owe you any money.

2. Chronic debtors

Yea, this one is (in)famous for only one thing. He is always owing. Always dealing with debt issues. It’s important you watch out for people like this, especially those who run themselves into debt because of their bad spending habits.

However, if the person is genuinely struggling financially, and needs some money, you can help them with some money them get back on their feet.

3. Unreliable relatives

You'll find it very difficult to get your money back from an unreliable relative.You’ll find it very difficult to get your money back from an unreliable relative.

An unreliable relative is as bad as a chronic debtor, you may need to fast and pray to get your money back from them. Lending your money to a family member you don’t see regularly can affect your relationship with them. And the worst part is, you may not get your money back from them for ever.

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