(C) Daily Kos
This story was originally published by Daily Kos and is unaltered.
 . . . . . . . . . .



To loan or not loan: That is the question [1]

['This Content Is Not Subject To Review Daily Kos Staff Prior To Publication.']

Date: 2024-02-25  

To borrow or not borrow: That’s another one.



I think it’s all a matter of give and take. No, really!



Our lives are defined, gauged, in large measure by the choices we make. How many times have you wished you’d not been so impulsive in making a certain purchase? Or how many times have you seen what someone else has and wanted the same thing for yourself? I think for many of us the answer is too many.



Okay, so try this on for size. How many times have you been hit up by a friend requesting that you lend them this, that and the other? More times than you care to admit? Yeah, I know the feeling.



So where that leaves you is you being forced to make a decision. Sometimes hasty ones.



I don’t have a problem loaning stuff out. But, I do this with the expectation that what I loan out, I will get back. In most cases, what I loaned got returned. There’s one in particular that stands out.



A colleague once wanted to borrow some money. This person needed a thousand dollars to help make ends meet.



So, the first thing I did was draw up a contract. I specified that I would loan in 3 installments each of equal amounts over a stated-to and agreed-upon period of time. I stipulated that the loan be paid off in four payments of equal amounts also over a given time period which was also agreed upon. The two of us affixed signatures to the two document copies each copy also signed by a neutral third party serving as a witness. All went according to plan. My colleague was able to meet his financial obligations and I was paid back in full. I was glad I could help out.



Maybe you don’t feel comfortable asking a friend to sign a legal document or formal agreement for something they maybe want to borrow. But, sometimes it’s necessary depending on what’s being borrowed like in the case of loaning money.



For those inclined to loan a lot of stuff out, though not absolute, it’s probably best to keep a list or log of what was loaned out, the date the item was loaned and to whom. That allows a loaner to keep better track. This process is alternatively known as record keeping. It’s also called accountability.



Sure, there’s been some stuff I loaned out that I haven’t yet gotten back. I call it not sweating the small stuff. I hope I’ll see that which I’ve loaned out again, and, I trust, one day I will. I’ll hold onto that thought and leave it at that.



No, seriously. That’s where I’ll leave things. With that, I believe I’ve said everything that needs saying.

[END]
---
[1] Url: https://www.dailykos.com/story/2024/2/25/2225806/-To-loan-or-not-loan-That-is-the-question

Published and (C) by Daily Kos
Content appears here under this condition or license: Site content may be used for any purpose without permission unless otherwise specified.

via Magical.Fish Gopher News Feeds:
gopher://magical.fish/1/feeds/news/dailykos/