You can't solve money problems with money

Blood is thicker than water, right?

So, when a relative of mine called me, crying because she couldn’t pay her rent, I didn’t think twice.

I lent her the money.

She said she would pay back, but she never did. She didn’t even ask to pay back later or pay in instalments. She just behaved as if nothing had happened.

I learned two things from that experience.

 

Never lend out more money than you are willing to give away.

If someone asks you for a loan, ask yourself if you are willing to give the person the money. If you are, lend out the money. If it is paid back, great, you can see it as a bonus. If it isn’t, give yourself a pat on the back for being a generous person and let it go.

If you realize that you are not willing to give the money, then don’t lend it out. Don’t risk your relationship that way. (Of course, not lending money might also risk the relationship, but if people get angry with you if you don’t lend them money, the relationship may not be worth keeping, right?)

Giving money to a person with money problems is not helping them.

At first, I felt foolish, when my relative didn’t pay back. As if I should have known better. On top of that, I felt bad every time I reminded her about the money.

Then I happened to hear Dr. Phil say something that made it all clear:

“You can’t solve money problems with money.”

Then I realized that lending her the money was not helping her. Not in the long run. It just enabled her to continue with her dysfunctional way of dealing with money.

Lending her money was like giving an alcoholic a drink just because he asked for it. Or giving a person struggling with overweight that cake she loves.

We can’t solve money problems with money. 

We can only solve them by changing our money mindset.

That is exactly what we will do in the Timefinder Academy Webinar tomorrow: Let’s remove our money blocks!

I hope you will want to join.

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If you cannot join the workshop live, you will get access to the recording.

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