You might think this is about money but lending and not being paid back isn't very good for staying positive. I combat this by a saying I once heard, "Never lend more than you can afford to give away." So my loans are gifts even if the recipients don't know it and it's a surprise if they pay me.
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After I made the loan of $7500, I saw the Clark Howard Show. He said that 46% of the loans made to family or friends are NEVER paid back, vs 4% of loans made from banks and credit unions. Seven months later..I have gotten back $250, and that was 3 months ago.33
I just never thought this would happen to me. Hope this is a warning to others. Clark Howard said..best to consider money lent to friends and family a "gift".
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