The economy is quite tough at the moment, according to the opinions of many people. As such, just like the government, loans become a logical route to meeting financial needs.
Even with a billion money lending apps, people still prefer to borrow from others. The reason could be the fact that people have no authority to report them to CRB, or they already have been inducted into its hall of fame.
Either way, there are things that you shouldn’t do in the event that you need money from others: they could be your friends or family. These are:
Don’t borrow money from a person you just met
He or she could a former high school buddy, who may have been on your tag team during eating rendezvous. He could even be the guy who procured the coveted avocados, a precious commodity back then. After years in the dark, you bump into each other and he asks for money the following day.
Do not borrow more from the same person
It’s quite unbecoming for someone who owes you money to blatantly tell you ‘hebu niwahi kaloan alaf unidai thao mbili on top of ile deni ingine.’ Mind you, that loan has not been repaid for over a year, and he or she still has the audacity to borrow more.
Never borrow money from your girlfriend or boyfriend
For the boy child, it is a terrible mistake to borrow money from your girlfriend. You could give her a thousand shillings as latest as yesterday. Her money is her money, and she may not part even with a hundred shillings. Equally, when your girlfriend asks for a loan, she has no intentions of paying back, even if you break up.
Borrow money when you have means of paying back
The ugliest thing is seeing someone flossing on social media, yet he has a loan he hasn’t paid back in ages. You are always tempted to shame him or her online, except you, weren’t raised to do such things. It is only logical for you to pay back according to how you agreed.
Don’t borrow for the sake of borrowing
The gambling industry is a boon for many people. Sometimes you may be tempted to borrow so that you can gamble money. Other times it is because someone has more money than you. The thing is, borrow when you really need it.