Lack is not something anybody wishes, there comes a time when you find yourself in a situation where you don't have enough to solve the immediate problem
What do you do when you find yourself in such a condition where you need money but you're broke?
The way everything is going in the world now it is difficult and almost impossible to borrow from someone especially someone who doesn't know you well enough to trust you with their money
Everybody goes broke at some point in their life so it's normal to be broke. Needing money is one thing, what you want to use the money for is another thing and that's what should determine whether you lend or borrow at any time
I remember a quote by William Shakespeare about borrowing and lending:
neither a lender nor a borrower is.
He made the quote because it's always very easy to borrow but paying back is not as easy. After the borrower borrows from the lender, both of them will be in trouble. The lender will be under pressure while the borrower in distress
Therefore, he advises one never to borrow or lend. Looking at it more critically, the reason why people find it hard to pay the money they owe most times is because of what the money was used for
If you want to borrow money, let it be for something that will bring more money, if not you might as well be wasting your money and putting yourself in unnecessary debt, and betraying the lender's trust in you
If you want to borrow for a business or to save a life, it is worth it. You. Can't believe that some people borrow money to do things that have no value. People borrow money to marry, some people borrow to enjoy and for pleasure
As a lender, what should motivate you to lend to somebody is what they want to use the money to do, it is irresponsible of anyone to borrow money just to live a luxurious life of partying around and other frivolous things.
I've seen people that borrowed huge amounts of money from banks and other institutions even with collateral and give interests, but today they are millionaires and billionaires of this world. The richest men of this world have borrowed at some time when they were starting. So you see, borrowing in itself is not bad but what you borrow for makes it either good or bad
As a lender, also consider what the borrower wants to use the money for before agreeing to lend them. Even banks and other legal institutions ask before giving loans to people
So, do not rely completely on that quote "never a lender or borrower be", the statement is conditional, think well before you lend or borrow so you don't betray a trust or make yourself an enemy