Shouldn’t Borrow Money From Friends and Other
A Threat to Friendships and Personal Growth
As humans, we’ve all been there - facing a financial crunch, feeling the urge to borrow money from friends or family, and hoping that everything will work out smoothly. But, as I’ve learned from personal experience and a recent video reminder, borrowed money can be a recipe for disaster, especially when it comes to friendships.
I remember the conversation I had with my best friend about a year ago. She had borrowed money from another friend and was struggling to return it. I advised her to pay back the amount as soon as possible, but she kept delaying it. Her excuse? She had the money, but her mood wasn’t right.
I shouted at her (as best friends often do 😜) to return the money, and eventually, she promised to do so. But, as time passed, I realized that borrowed money can be a significant threat to friendships and personal growth.
Why Borrowed Money is a Bad Idea —
Here are six compelling reasons why borrowed money from friends is a bad idea:
1️⃣ _It breaks friendships_: When you borrow money from friends and fail to return it, you risk damaging the relationship. Trust is broken, and feelings of resentment can creep in.
2️⃣ _It breaks trust_: When you borrow money, you’re not just taking someone’s cash; you’re also taking their trust. If you fail to return the money, you’re showing that you’re not reliable or responsible.
3️⃣ _It increases the habit of begging_: When you get into the habit of borrowing money, you start to rely on others to bail you out. This can create a vicious cycle of dependency, making it challenging to break free.
4️⃣ _It can increase unnecessary expenses_: When you borrow money, you might feel tempted to splurge on unnecessary items. This can lead to a cycle of debt and financial difficulties.
5️⃣ _It shows your bad personality_: Let’s face it - borrowing money and failing to return it can make you look irresponsible, unreliable, and even selfish.
6️⃣ _It can lead to guilt and stress_: Borrowing money can weigh heavily on your conscience, causing feelings of guilt and stress. This can affect your mental health and well-being.
The Importance of Returning Borrowed Money 📈
If you do find yourself in a situation where you need to borrow money, make sure to return it as soon as possible. Here are some tips to help you do so:
- Create a plan to repay the loan
- Set a specific deadline for repayment
- Communicate regularly with the lender
- Show appreciation for the lender's trust
Conclusion —
Borrowed money might seem like an easy solution to financial problems, but it can have severe consequences on friendships and personal growth. By avoiding borrowed money and being mindful of our financial habits, we can build stronger relationships, develop a sense of responsibility, and achieve financial freedom.
So, the next time you're tempted to borrow money from friends, remember the risks and consequences. Instead, focus on building a safety net, creating a budget, and developing healthy financial habits.
Your friendships and future self will thank you! 🙏
