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Live 4 Financial Freedom

61 EpisodesProduced by Bruce MillsWebsite

Become a Paid Subscriber: https://anchor.fm/live4/subscribeThis is our journey through Marriage, Raising Teenagers to Financial Freedom. Financial Freedom (FIRE) can help give you choices in life. We share stories to help couples getting married, married. Helping parents survive raising kids to plan… read more

12:28

No Loans to Family or Friends

Most people probably would say they love and care for their family and friends. Myself I like to solve problems because I don’t like to see anyone suffer. Especially when it is my family or friends. It normally has felt good when I could help them out with loaning people money but then normally those feelings go away and new feelings of pain seem to set in.

Most people that I loaned money too paid me back but without a lot of hassle, lost trust and hurt relationships. Some people that loan money to others get feelings of being used, taken advantaged of and not wanting to help anyone else ever.

Few people never paid me back and I never heard from them again. But when they asked me for money, I was their best friend and we would be best friends for life they made it seem. Funny how that happens. LOL

Few people paid me back when they said they would. That is very few did that. Most people I had to hunt down, hassle them and one I even had to hire a Lawyer with to protect the money that was owed to me. Most people that did pay me back took anywhere from One to fifteen years. Yes, one took fifteen years to pay me back.

It is tough when people don’t even try to make small payments to you monthly. Instead they seem to never bring it up what they owe you and normally don’t pay any money towards the loan unless you bug them.

I even loaned someone my house to live in and I moved in with a neighbor. The family that moved in my house was supposed to be a short time situation and were to pay me for utilities and a small rent amount. They paid the first month and then after that nothing. I had to have friends help me evict them. I never received any money from them for the past utilities and rent from the house. I never have heard from them again. Plus, they broke some stuff while living there.

Sometimes when we loan money to people, we hurt them more than we help them. We don’t let them solve their own problems and think outside the box. Plus, they probably have deeper issues like spending more than they make. If you solve their money problems, they will probably be right back in money problems down the road again.

I asked my Dad twice for money and he said “Sorry Son but you will figure it out, do you want to talk to your mom?” He was so right and both times I did come up with solutions once I let my mind calm down and it made me stronger.

Some more reasons to think about before you loan money to any family or friends; Covered in Podcast

If you would like to be a guest on my Podcast drop me an email at bruce@millsway.com or Text me at 480-389-6224

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Thanks, and Have a great night.  Please Support or Follow me at https://www.patreon.com/millsway  for access to all my blogs.

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