If you’re reading this article today, then congrats!
It means you have made it to the end of #YamaYamaJanuary – the only month in the year where suffering no dey look face. Student o, business owner o, Dangote o – everybody is recovering from the holiday season. Any unexpected debit alert at this kind of time can cause huge hypertension.
So now we have almost stumbled into February, what’s next? It’s time to start building wealth. Like myself, I prepared very well in January and got all the right information for us ahead of time:
– what you can invest in to earn correct interest returns
– learning what inflation is and how to prevent it silently chopping your money
– how to budget and manage cash properly
But as I was planning how to put money aside, an unexpected issue came up… But before we continue, can you answer this question politely?
WOULD YOU ASK YOUR FRIENDS TO PAY INTEREST WHEN YOU LEND THEM SOME MONEY?
I have seen different people with different answers on the questions above. Some said Yes! they will surely lend him/her without interest. Sebi hin be my friend. Some said, hin must pay interest oo. The others said den no go even lend any money to a friend.
Human beings o! People will say one thing online, and do another thing in real life. Some people answering that questions saying they won’t charge any interest when lending a friend money. Just like that – in this economy? Abi are some people plucking money from trees?
Have you heard of the sayings that ” Business grows, if friends and family don’t patronize on credit”
If there’s something I know, lending money to friends can be very tricky. You’re trying to manage your own small cash here and there and then your best friend comes and says:
“abeg Odunayo, things are very tight right now. Can I borrow some money from you? But without interest sha..”
Which is your response?
A) “Ah. As you see me like this, even ₦1 I no get. No vex padi”
B) “You won’t pay interest?? Ehn, me too I have lost interest.”
C) “No wahala, but will you pay me back on time? Make police no enter this matter o”
All these are the issue you face when lending money out to your friends. I no say make you no lend them oo. But please do it smartly and use your brain
So as not to affect your finances this year. I pray that God will help us as we approach the new month.
Do you have other suggestions? Kindly drop it on the comment section and let’s relate. Thanks for reading