tag:blogger.com,1999:blog-34503628.post4643752820422961203..comments2024-03-26T20:28:00.690+08:00Comments on Journey to Become Financially Independent: I Need Money, Help!!!ChampDoghttp://www.blogger.com/profile/15551303930099640011noreply@blogger.comBlogger11125tag:blogger.com,1999:blog-34503628.post-46494507120566119182013-07-08T19:12:56.181+08:002013-07-08T19:12:56.181+08:00I know exactly what you meant about the "yak2...I know exactly what you meant about the "yak2". lol Anyway, I'm not kaya lah, just less dependencies. :D<br /><br />As my original intention of my article said, just don't blindly lend your money IF you really want to help your loves one. Unless you really can "Confirm" it is one time deal of thing which usually don't happen. <br /><br />Ultimately, don't lend it at all if possible but still facing the problem together in a different way. :D ChampDoghttps://www.blogger.com/profile/15551303930099640011noreply@blogger.comtag:blogger.com,1999:blog-34503628.post-24076189516762549082013-07-08T14:57:51.936+08:002013-07-08T14:57:51.936+08:00@ CD
Point noted.Yes...it doesn't matter if t...@ CD<br /><br />Point noted.Yes...it doesn't matter if the relatives are from your side or the wife's side but normally,she will ok the money to her borrowing relatives but could 'yak2' a bit if the borrower is from your own side...ya..very complicated & touchy wor....!!<br /><br />Whatever the side...you are blessed to be the lender & the relatives borrower is blessed to have a kaya lender like you too...:D..!!mavericnoreply@blogger.comtag:blogger.com,1999:blog-34503628.post-76907789463520067032013-07-07T19:58:29.992+08:002013-07-07T19:58:29.992+08:00To add on, in fact a lot of "normal & rat...To add on, in fact a lot of "normal & rational" adults fail to manage their money and finance. <br /><br />I think that is the bottom-line problem unless you are really expecting all will do?ChampDoghttps://www.blogger.com/profile/15551303930099640011noreply@blogger.comtag:blogger.com,1999:blog-34503628.post-87570439358189120562013-07-07T19:55:50.329+08:002013-07-07T19:55:50.329+08:00Sometimes when they fail to manage their money, th...Sometimes when they fail to manage their money, they won't able to pay you but step in further. That's why the fail to repay the debt when due or probably borrow from someone else to repay you. I have seen cases like that.<br /><br />For my second paragraph, I meant for those who you love very much, it is hard for you to reject borrowing them money if they borrow again. Again, I have seen cases like that but not on friendship but on closed relatives instead. ChampDoghttps://www.blogger.com/profile/15551303930099640011noreply@blogger.comtag:blogger.com,1999:blog-34503628.post-19759839001910455802013-07-07T19:44:34.601+08:002013-07-07T19:44:34.601+08:00@ CD
I do strongly believe that a 'normal &am...@ CD<br /><br />I do strongly believe that a 'normal & rational' adult would be in dire straits if that person opens the mouth to borrow money..!<br /><br />I also believe that a principled adult will repay the debt when due.<br /><br />We are talking about a spread of values here...integrity,trustworthiness,honesty etc2<br /><br />I do not quite understand your 2nd para..;'true friendship is worth unlimited..that means you will lend them money again & again as long as they need it..especially for closed relatives' Really..? You do not like lending them,do they know it?<br /><br />Empathy should be both ways..!mavericnoreply@blogger.comtag:blogger.com,1999:blog-34503628.post-78270764369883291572013-07-07T18:40:58.818+08:002013-07-07T18:40:58.818+08:00If you don't lend them, how are you going to h...If you don't lend them, how are you going to help them? or you mean the relationship will just end? or you agree to my suggested method?<br /><br /><br />For the second bullet, true friendship worth unlimited. :) That means you will lend them money again and again as long as they need it. That is what I have seen so far especially for closed relatives.ChampDoghttps://www.blogger.com/profile/15551303930099640011noreply@blogger.comtag:blogger.com,1999:blog-34503628.post-78437844426299283672013-07-07T18:25:25.231+08:002013-07-07T18:25:25.231+08:00These are my experiences on loaning money to frien...These are my experiences on loaning money to friends and relatives.Nothing came out of it eventually..ie..returning the amount voluntarily & in all cases,no interest is involved.If the amount is >rm1k, I may kind of 'remind' politely but the issue is how many times can one remind..? We are talking about consenting adults here,not 'Kiddy' stuff ..By right,the borrower should 1)away remember the debt 2)onus on him to tell the lender of alternate plan of payment etc2 instead of acting stupid.<br /><br />From the above,my philosophy on the above are as follow....;<br />1)Lender does not lend to borrower,later gets angry. Lender doesn't get repaid by borrower,former gets angry...better borrower gets angry than lender.<br /><br />OR...<br /><br />2)Readiness to accept that the loan will not be repaid at all especially for smaller amounts...the values of the friendship or kinship is probably worth that much only...!?? mavericnoreply@blogger.comtag:blogger.com,1999:blog-34503628.post-26787201283747402032013-06-18T19:14:19.202+08:002013-06-18T19:14:19.202+08:00lol, my text is longer than yours! Maybe there als...lol, my text is longer than yours! Maybe there also longer than yours! lol <br /><br />Still can charge interest just it will be accumulated if they don't have money to pay. Then a "plan" needs to be come out to pay you back. Similar to when you take any loan. Up to you to decide, you can also say first 3 months is free of interest. Again, the intention is not to earn money here but teaching them on personal finance indirectly and hopefully.<br /> <br />Bottom line, I think sustainable is the key. If we are sure is one time deal kind of thing, then it is okay. I just heard too many cases already that one time deal always doesn't work out.ChampDoghttps://www.blogger.com/profile/15551303930099640011noreply@blogger.comtag:blogger.com,1999:blog-34503628.post-69599829893901582512013-06-18T18:16:03.951+08:002013-06-18T18:16:03.951+08:00You didn't state your what is longer than mine...You didn't state your what is longer than mine? ^+^<br /><br />I usually loan to my real buddies that thus far will return back the $ to me when they have it. At times, they are just too tight to fork out money. Some even until not enough money to eat.. How to charge interest leh? -,-! kampunginvestorhttp://www.kampunginvestor.comnoreply@blogger.comtag:blogger.com,1999:blog-34503628.post-54150602712012241342013-06-17T09:19:39.826+08:002013-06-17T09:19:39.826+08:00Hey bro, how are you lately? Yes, I have to agree ...Hey bro, how are you lately? Yes, I have to agree with you it is a very tedious job but think of it gain it is worth the effort if it does solve the root cause of the problem in long term (not just short term).<br /><br />About charging the interest, it is a different perspective here. We used to think we should just lend our money to our loves one unconditionally when they need help but I may think otherwise. It depends on the root cause of the financial problem. If it is due to lack of financial awareness or financial planning, lending money without any interest won’t help. Sooner or later, they mostly will get back to you to ask more simply because they fail to manage their money again. <br /><br />We don’t need to charge high interest but as low as fixed deposit or even lower than that because the intention here is not to give more trouble to them but rather to educate them on managing their money. To be very frank, a lot of people do not even know how to calculate the interest. For instant, the interest is 5% per annum, what is the daily interest? What about monthly? If I pay certain amount today, how much interest I reduce? How much do I still to pay to settle the loan? Should I settle my loan now if I have the money or I should wait? And many more analysis needs to be done. Basically, it is more on the exercise for them to go through it and understand how this interest game is. If they fail to understand this game, it is very likely they will fail in managing their money some point in future.<br /><br />However if the person has nothing to do with lack of financial planning, then probably I will agree with you. We can give them a favor depends on how close you’re with him/her. Yes, 2 cents too and I think mine is longer than yours! LoL! :)<br />ChampDoghttps://www.blogger.com/profile/15551303930099640011noreply@blogger.comtag:blogger.com,1999:blog-34503628.post-15752683766919204542013-06-17T00:46:54.084+08:002013-06-17T00:46:54.084+08:00Wow from the steps above, I don't think its qu...Wow from the steps above, I don't think its quite possible to follow it as it seems very tedious job. <br /><br />I did have some bad experience in giving loan to "some friends" Until today never return and act stupid always. Most of it do return it because at that moment of them, they really need to extra cash to settle their problem.<br /><br />Charging interest upon the money we lend to people from my point of view is not healthy. When people financial help, they are already in deep trouble and by charging interest, it won't really help the cause. If that person is your friends or relative just loan them some and see their sincerity in paying back. If they are not sincere, then there will not be anymore second time. <br /><br />sorry for writing too long and its just my 2 cents! :) kampunginvestorhttp://www.kampunginvestor.comnoreply@blogger.com