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Which is more important to you? Money or friendship/relationship?
Throughout my life, I have given some loans to my friends and relatives from time to time. I am not a rich person, thus the reason I am giving my view on this matter.
From my personal experience, only 30% of the loans taken by my friends/relatives are paid back to me. This put me in a very grave position as financial is concern.
I come to a conclusion that whenever a friend/relative ask for a loan, whatever the amount, I will ask myself, how much am I willing/I can afford to GIVE them? Thus I will give that amount and nothing more. So when they did not pay, I do not really feel the pain.
Lately my life is getting better. I am loosing none of my friends/relatives.