The Wisdom of Not Lending Money: A Guide for Friends and Family
Have you ever lent money to a friend or family member and found yourself constantly worrying about it being paid back? Have you felt frustrated and hurt when you see them out enjoying themselves while you are still waiting for the money you lent them? In this article, we will explore why never lending money to friends or family might be the best policy and provide practical advice on giving instead.
A Jewish Rabbi's Insight
A Jewish rabbi once shaped my life with a profound statement: “I don’t lend money. I only give it away for free.” He emphasizes that lending can lead to judgment and resentment. This goes back to the Old Testament where it is stated, “The borrower is a bondsman to the lender.”
Applying Wisdom to Everyday Life
I was not Jewish, but this wisdom resonated with me. By switching my focus from lending to giving, I have become happier and more content. I have lost count of the money I have given away over the years and no longer keep a record of it. This philosophy has undoubtedly enriched my personal finances and relationships.
Why Not Lend?
After years of worrying about debts owed to me, I made a decision: I no longer lend money to friends or family. I have developed a new philosophy that encapsulates this decision. When a close friend or family member needs money, I ask myself how much this is equivalent to for me. If the amount is something I can afford to lose, I give it to them without any expectation of repayment. This simple shift in perspective turns the loan into a gift.
Expert Advice from Quora
On platforms like Quora, I have shared my experiences and advice. My mantra has always been: NEVER lend money to friends. You should only give it to them if you can afford to live without the money, or if you don’t need it at all. If you need the money, don’t give it.
For any loan, you must consider it a gift, not a loan. You are helping a friend in need, not expecting repayment. Only you can make this crucial decision!
Empowering Decision Making
By reframing the act of lending as giving, we can empower ourselves to make better financial decisions. This approach not only enhances personal happiness but also strengthens relationships with loved ones. Instead of feeling burdened by the need for repayment, we can focus on the positive impact of our generosity and the bonds it strengthens.
Conclusion
Do yourself and your loved ones a favor. Don’t lend money. Give it freely when you can afford to, and let the gift of your support enrich both your lives. Apply this wisdom to your life and watch as your financial and emotional well-being improve.