Borrowing Money From Friends and Family, A Brief Guide:
Borrowing money from friends and family can quickly tarnish, if not downright sour relationships. No one wants to burn bridges over petty cash and unsettled debts.
As a friend, you are trusted. As a family member, you are trusted even more. People that take advantage of their friends and family, however, should not ever be trusted, under any circumstances.
When I borrow money from friends and family, I follow two basic rules: Pay them back promptly, and with interest.
Example 1: Borrowed $35 from a close friend. Paid him back the NEXT day with $20 interest ($55 total.)
Example 2: Borrowed $15 from my brother when I was dead broke. Paid him back TWO days later with $10 interest ($25 total.)
Example 3: Borrowed $1,000 from my sister. Paid her back the next day with 3% interest.
Example 4: Borrowed $400 from my sister. Paid her back TWO days later and wrote a scholarship paper for her (as interest.)
The list goes on…
Examples of LENDING money:
Example 1: Lent unnamed individual an undisclosed sum (see: triple digits) of money under explicit agreement that I would be paid back in a specified time period. Result: Still awaiting payment. Specified time period has long passed.
Example 2: Fronted unnamed roommate undisclosed sum (see: triple digits) of money for utilities. Result: Four months, and nineteen excuses later, I have yet to be paid.
Example 3: Paid another unnamed roommate’s rent for him. Result: Three months later, he continues to hustle, slowly chipping away at the debt, but has not quite paid in full. Gotta give him props for trying though. C+ for effort, at least he gives a shit.
Conclusion: Some people are good men. Some try, but just can’t pull it off in a reasonable time frame. Some are well intentioned, but misguided, and some are downright shameless. In the end, you should just stay away from borrowing and lending to friends. It destroys far more relationships than it mends. In essence, the cons FAR outweigh the pros. ESPECIALLY when you encounter a character known as “the LEECH.”
The Leech: You see, the leech starts off slowly. Lending you petty cash, buying you beer here and there. Giving you rides. Then the leech starts asking for favors. “Can I borrow a twenty, bro?”, or “Dude, I NEED $50, I swear I’ll have it tomorrow!!” The next thing you know the leech is calling you at 4am begging for $500 “or else this guy is going to fucking kill me, man.” (Where does the money really go? Towards weed, beer, strippers and online poker.) And do you ever see that $500 again? FUCK no.
In closing, FUCK the leech. You blood-sucking, spineless bastard you.