DON'T EVEN ASK!!!!!

This year, 2008, I’ve decided to make a few changes. The time for making New Year’s Resolutions has past, and I’ve never been one to make them, so I’m definitely not calling my changes or new decisions resolutions. I’ve just looked about how I’ve handled some situations and now think that if I’m faced with a particular situation again, I need to make a different choice. This may apply to you, but trust me; you are not the only one.

So here goes: Don’t Even Ask! I will not be loaning any money out this year and for years to come, well, in 99.9% of the cases. I have been use as an ATM or Drive-thru Bank for quite a few years. I thought at times that I should stamp “Payday Loan” across my forehead. At least I could get a ferocious amount of interest. You would think I have a money tree growing in my back yard, hmmm...

Money Tree in my backyard, RIGHT!

With all the other loans I received no interest and actually lost money, because my money that is now loaned out is losing the interest. In all cases, I have asked myself before lending any money, “if this loan never gets repaid, can I do without it and forget about it”, “if this loan never gets repaid, is it worth losing my friendship or association with you?”

I always remember this statement a speaker said once, “PEOPLE BEG THEIR NEEDS AND BUY THEIR WANTS”.

This statement is so true in lots of cases. You will see people who spend their money on the things they desire (eating out, all the latest fashion, extracurricular activities, etc.), when they can’t really afford to, then when it comes to their needs (rent or mortgage, light, gas, phone, etc) they are always short and borrowing money.

In the rare .1% where I may think about extending a loan, consider the following and be prepared to answer some questions from me.

First of all, you may have 'Good Intentions' to pay back the loan, but you may 'Lack The Ability' to repay the loan.

Therefore:

Tell me your plan for repayment

Are you expecting a sudden Win-Fall in order to repay the loan

have you corrected the circumstances that caused you to ask for this loan from me

To close, if you Do Not have a 'Plan For Repayment' and one that will keep you from borrowing again; then, I will be 'Unable To Extend' this loan to you.

Please Stop!
Whew! I’m so glad I got that off my chest.