I must say that practically everyone you know has regretted lending money to someone they know, whether they are friends or family. I am not exempt from this type of folks, and I am sure you are not either.
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It is always painful when the person in question refuses to answer your calls or starts giving a kind of attitude. Talking about pain, I hate it when this attitude comes from people close to me; it spoils relationships. Relationships that could be helpful in future; once you lose it, you lose a connection that could possibly mould your future.
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Due to my past experiences of lending out money, I have always followed a rule which I would be sharing in this post. Before I do that, I would like to share a story of what happened to me that made me change and formulate these rules in regard to borrowing money.
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It happened in 2019 when I received my tuition fees from my dad. Suddenly corona burst in and resumption was postponed. I had a friend who had a sales business which involves buying and selling musical instruments. He came to me to ask for a loan to buy some goods for his business and that he would pay me back. As a friend who has helped me by giving me some of his goods on loan and I pay back later, I decided to borrow him the money I had for my tuition fees.
This is something I would not do ordinary but because trust was involved and because he had helped me before.
He claimed he'd give me back in two months, which I agreed to because school wasn't starting any time soon. When it was time, he refused my calls and stopped answering my text. When I tried with another number, he picks the call and start giving excuses and promises to return it soon but never did he.
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I was pained seriously. The funniest thing was I was pained the more because he broke my trust badly. I cried on my bed because I didn't know how I could raise that money and because I felt betrayed. It was actually the biggest amount of money I had lost in my life at the same time.
This made me wise and I got to understand how to play my card well which I would be sharing to you.
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Lending money to people now is not entirely based on trust nowadays, because if you do that, you risk breaking your trust for the person. That's why it is important to follow these rules:
Don't expect your money back: The thing is that you should never expect the money you lend someone back because they could never return it. So the idea is when you lend money to someone, have the notion that you are dashing the person. This is important so that it would not ruin your relationship with the person.
Don't ask for your money back after asking at least thrice: One thing you should know is, if you ask back for the money you lent, try to give the person time and don't be a pest to the person. Yes, it is your money but the person you lent money to may perceive it in a wrong way and would want to ignore you afterwards.
So when you give lend someone money, space the duration in which you would ask the money back from the person depending on when the person promises to return. If he doesn't return after 3 times of requesting your money back. Then, FORGET YOUR MONEY! IT'S MOST LIKELY GONE.
Never lend out what you cannot afford to lose: This is very similar to not expecting your money back. Take lending money as if you are investing it in crypto or forex; you can lose your money or get it back. So if someone asks you for a loan, and you cannot afford to lose the money, then don't give it out in the first place.
Do not repeat the same mistake: What this means is you should never lend money to anybody who refuses to return to you again. One thing about me is that I don't forget people who borrow money from me and fail to return and most likely do I fight them. I continue how relationship without asking them for it back.
The disadvantage of this is, that some may take me for granted and would think I have forgotten about my money but the truth is I don't want to be a pest in their life. But one thing is for sure, I would never lend money to that person again, no matter how urgent the scenario is, or if I have the money to give out.
I won't lie, such scenarios depends on my current mood π π. I am a kind person in nature
I would like to know your thought on some things. What benefits do you think people lose when they fail their promises? Do you have any of someone that failed his/her promise to return your money? How did your relationship with the person turn out at the end of the day? if then, please share your story. I would really appreciate your comments by curating them
WHO IS STARSTRINGS01
Starstrings01 AKA Giftedhands is a Hive lover, a Nigeria musician (Guitarist), and also a student who studies Mechatronics Engineering at the Federal University of Agriculture, Abeokuta.
His goal on Hive is to be more than a regular blogger but something more; someone with a purpose. Thatβs one of the reasons why he founded the newbies initiative 
He battles and struggles with balancing education and being active on the chain but yet his love and passion for Hive keep him on balance.
All images are mine except indicated otherwise