Borrowing Money

May 31, 2022

June is waving guys, goodbye May see you in the next year 2023. Where now in the middle of the year 2022 how's life by the way my read dot cash fam? For me, it's quite okay still fight for the struggles in life.

Which did you prefer borrowing money with interest or borrowed from your relatives?

For my today's write-up, I got this idea while browsing random videos on TikTok I want to share it here as truly I experienced it before, and probably you encounter it similarly.

So without further ado, let's start, I hope I can interpret it well by writing because I saw it only in a short video.

She is a businesswoman and she was sharing how she started a business even from the beginning she didn't have the capital she said, to generate the money or to make money work for you, then we should take a risk by borrowing money that even if we don't have it we shouldn't not shy to lend it some because she said to start up a business we should be brave in taking a risk and she has had 3 rules when handling money.

• The first rule is that She didn't borrow the money and spend it on material things or go on a vacation she only borrowed money for a business to create assets and not liabilities and she was right we only borrow money and we make it grow because some of us, I know someone that she only lends money and used it for a birthday party etcetera to show off people that she had money, this character like this will not be a good example.

• The second rule that she had was that she never or don't ever ruin your name just for money if we know how to lend money to someone or in a bank we know also how to pay for it, although in business, not all the time that it will bloom, you encountered struggle there were times that you couldn't pay but we must learn to approach that someone if not now then sees to it that you can settle in it and don't ever run for your dept.

• The third rule that she had is that she didn't borrow money from her relatives, why? It's because the reason that we have this toxic Filipino trait na magkakaroon ka ng" utang na loob" (not all still there are relatives that are willing to help )that it's better to borrow from someone with an interest than from your relatives that you can hear bad words from them when you are can't pay for it on time.

In my case, I prefer to borrow from a bank because it hurts when you tried to borrow from your relatives and end up neglecting you, or if ever they can let you borrow it but you can hear some hurtful words. so if you're a kind of a person that you can't handle this kind of toxic trait then better only lend money to someone with an interest or someone who has a lending business so that it will not affect your sanity.

Final thought

This is what I learn from this short video of this businesswoman if we want to be successful in our business we should take risks, and we should be brave enough to handle failure because failure is part of success.

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Thank you for reading!