They say money can either build you or break you. Many times I have agreed to this statement as I have seen money destroy friendships, families and homes. Money has even lead to the loss of lives.
A wise man once said, instead of lending money to a friend, rather gift him or her with it.
Here are some of the reasons why you shouldn't lend money to your friends:
1. It is difficult to demand it back
When you lend money to a friend, it is very difficult to demand it back as this will automatically lead to the breaking of your friendship.
Deep down you will be hurting, but you won't have the courage to open up to him or her.
So instead of expecting the money back, just consider it as a gift and only lend an amount you are satisfied parting with.
2. Your friend always assumes you are doing better and in less need of the money
When your friend sees you eating good food and buying new clothes, they assume you are good and not in any hurry for your money.
They tend to forget that you cannot be moving around displaying your problems in order to be repaid your cash.
3. Some friends assume you are selfish
Most friends do not expect to pay you back after you have lent them cash.
They expect you to let them go scot free because you came in for them in time of need, and that's what friends are for.
4. Payment is made in instalments.
Some friends assume you understand their 'situation', and thus, they pay you in bits.
Others even end up paying later than the agreed date, and probably you have to keep following up with them.
This habit is normally very annoying as you, on the other hand, gave out a full amount.
5. Lost of trust/friendship
Money leads to loss of trust as once bitten twice shy, and again, friendship might be broken due to the many disappointments.
You will be bitter that they didn't keep their promise, while them, on the other hand, will be uncomfortable around you because they owe you.