Loans spoils relationship with others if not repaid properly
It is very hard to live a life without having a loan. The loan does not only mean money loans, but it can also refer to favors that can never be repaid. My friend and I used to have a good mentor during our college days. He was very good at guiding us, and he has helped my friend a lot during his financial downturn. But today, after almost 15 years, our mentor is having a bad financial time, and we are trying to help him out.
If we do a deep dive on this and understand, loans happen because of bad financial management. I wouldn't say that taking a loan is completely wrong, but there are a few people who take multiple loans from multiple people, and when one person is asking for the money, they get the loan from another person and repay them. This way, they are never out of the loan cycle. Our mentor is now in such a situation. This not only questions his financial capabilities but also damages his relationships with others. This is a very bad thing, and this sometimes makes me feel that we shouldn't fall into that trap.
Greed can be a reason
Sometimes people are greedy. There are several avenues to get a loan at a decent interest rate. But people try to get the money borrowed from other individuals so that they don't have to pay any interest to friends. It can sometimes take a lot of time to repay the money. Some people might have loans from both banks as well as friends, but these people are very dangerous and might have a very bad financial discipline. Greed can consume people, where they would like to live a luxurious life by troubling others.
It would always be good to just take an attempt to get a loan only if we have the capabilities to repay the loan and pay the interest at the right time. If we don't have that discipline, it is a big trouble, and we might even have to put our friends and family members in a tough situation. Not everyone or ever friend will be willing to help, and sometimes we might come to the most difficult situation in our life and might even have problems covering the basic needs of our life.
If you like what I'm doing on Hive, you can vote me as a witness with the links below.
 |
 |
 |
Posted Using INLEO
I don't think people should consider taking a loan except when necessary.
People that are usually caught in the web of loans, usually find it difficult to repay their loan and if eventually people help them to pay, they still go back to repeat the circle. It's just so sad
Loans, whether monetary or favors, can strain relationships if not managed responsibly
I have witnessed a lot of cases whereby I have borrowed some of my friends money and they didn't return and at the end of the day turn to issues, I mean serious conflict between us
Loans ruins friendships and relations, it's better to just use banks or other external sources
People really underestimate how much damage unpaid loans can do to relationships. It’s not just about money, it’s about trust and once that’s gone, it’s hard to get it back
This is why I don't loan or borrow money if I don't have a means to pay back in the nearest future. I just can't deal...
I have never raised money like this in my life because we have to mortgage some things and later if we can't pay them off, those things will be gone, so it's better to live on less money.
This post has been manually curated by @steemflow from Indiaunited community. Join us on our Discord Server.
Do you know that you can earn a passive income by delegating to @indiaunited. We share more than 100 % of the curation rewards with the delegators in the form of IUC tokens. HP delegators and IUC token holders also get upto 20% additional vote weight.
Here are some handy links for delegations: 100HP, 250HP, 500HP, 1000HP.
100% of the rewards from this comment goes to the curator for their manual curation efforts. Please encourage the curator @steemflow by upvoting this comment and support the community by voting the posts made by @indiaunited..
This post received an extra 20.00% vote for delegating HP / holding IUC tokens.
This post has been manually curated by @bhattg from Indiaunited community. Join us on our Discord Server.
Do you know that you can earn a passive income by delegating your Leo power to @india-leo account? We share 100 % of the curation rewards with the delegators.
100% of the rewards from this comment goes to the curator for their manual curation efforts. Please encourage the curator @bhattg by upvoting this comment and support the community by voting the posts made by @indiaunited.
I think that while taking out a loan is a responsibility, not repaying it on time can have a profound negative impact on a relationship. I enjoyed reading your blog. Best wishes to you.
I think it also boils down to a lack of discipline. Just like we shouldn't risk what we can't afford to lose, we shouldn't take loans that we can't afford to pay. It just creates a situation loop where you keeping robbing Paul to pay Peter and vice versa.