On Money, Friends, and FamilyUpdated: January 12, 2017
We are not alone in our journey towards financial freedom. We go through this adventure with the most important treasures we have – our loved ones. Below are some articles that tackle money and relationships.
A friend confides that he’s been having money problems and hopes that you could help him by lending him some cash. What do you do? Do you immediately dig into your pocket and help your friend? Or do you simply keep quiet and pretend you didn’t hear anything and change the topic of the conversation?
If you’ve experienced being asked for money by a relative, I’m sure that you know that these situations typically start with the telling of a sad story. Listen with an open heart and empathize but do not promise anything. Show genuine concern and ask questions so that you’ll fully understand the circumstances that led them to ask for your help.
Many times in our life, we would be asked by a family member or a friend if they could borrow some money. Reasons may differ but almost always, it’s our intention to be a good friend that moves us to extend a helping hand. “Neither a borrower nor a lender be.” This is a famous line from Shakespeare’s Hamlet. Although I don’t totally subscribe to this advise, it does make a good point, doesn’t it?
His younger brother had a medical emergency and, being the sole breadwinner of the family, he had to shoulder all the expenses. Even though he had an emergency fund, it was not enough to cover all the hospitalization expenses and the cost of the medicines.
As we grow older and become more independent, we often realize that our parents are just like any one who would sometimes make bad choices and commit mistakes. Such is the realization of a friend who confided with me one night about the enormous debt that his parents have.
We are social creatures. Even if you believe you’re a loner or an introvert, I bet there’s still people whom you choose to talk or spend time with more often than others. In addition, we normally hang out with people whom we share similar interests with; and try to avoid those whom we find uninteresting or whose character is not aligned with our principles.
Activities are normal for friends to do, but if it happens often enough and you don’t earn as much as your wealthy friends, the peer pressure to keep up with the pricey lifestyle would definitely put a strain in your finances and worse, in your relationship.
Friends are one of life’s greatest treasures. We love them, and would do everything we can to help them in times of need. However, we sometimes get “that friend” who takes advantage of us financially, especially when they know that we make more money than them.
I will write more articles about money and relationships in this site. Stay updated and subscribe to Ready To Be Rich.
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