Be Careful Before You Loan Money to Friends | MJ Harris

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Malcolm “MJ” Harris is an internationally recognized financial services CEO, author, and motivational success teacher who has consistently beaten the odds to achieve extraordinary success. MJ’s rise began when he started an insurance agency - at his dining room table as a side business - while working as a Management Consultant for a “Big 4” firm. Through sharing his story with the world on social media about overcoming personal and financial trials, the business quickly grew into a multi-national financial services and self-improvement powerhouse.
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[@kissedbyfireskye8428]

To me if they’re asking for money in the first place they don’t and will never have the money to give it back. It’s the principle and how they value your friendship. I’m sadly learning the hard way. I lent money to a friend who is awful with money a year later they’re still owe me.

[@martinsteixeira4761]

I wished someone would've told me this last month...I just did the same and probably won't see it again lol

[@stockyguru]

@@martinsteixeira4761 😂 kiss that money goodbye.It’s not right if you loan someone money they should pay it back.

[@Anonymous_Anon882]

What about if they just needed a $10-dollar pick-me-up before payday?

[@whowhatwhere3808]

@@Anonymous_Anon882 anyone that doesn't have $10.00 on them is already passed doomed. Send them too a soup kitchen or too the salvation army.

[@shadowsmith1386]

@@stockyguru lol

[@MrWoowootila]

Loaned a friend $6600 5 years ago when he was on rough times. He is now living in a luxury apartment complex and just came back from vacationing in Asia and makes over 150k a year. I am now on rough times, living in my car, and when I ask him for the money he gives me like a $100-200 a month. Sorry that is all the money I have. Always excuses. He acts like he is doing me a big favor slowly paying me back. My parents were sick and later past away so I quit my job to take care of them. I will bounce back, but this individual really screwed me over when I needed the money the most. You really find out who your best friends are when you are on rough times. I found out I only have a couple.

[@msindisimtengwane9456]

My father used to say, “Never lend money to someone if you would never gift them the same amount”. This way if they can’t pay you back, it doesn’t kill the friendship.

[@jordanemmanuel8746]

I HAVE had situations with this and I'm tired of it.

[@tylergnosis2581]

Never loan out money, it's causes to many issues

[@jilillsimmons6782]

I’ve learned the hard way not to lend people money, especially family and friends. Jobs exist for a reason.

[@kenallenchannel3911]

Me too

[@jilillsimmons6782]

@@kenallenchannel3911 people always want to take the easy way out and use nice people to get by when it comes to money.

[@kenallenchannel3911]

@@jilillsimmons6782 yeah it’s a shame that we have people like that in this world… i was to easy to get to until i cut em off completely, I’ll make sure that never happens again to where it affected my well being again

[@jilillsimmons6782]

@@kenallenchannel3911 I understand completely man. I was the exact same way. I’ve even had people try to guilt trip me into giving them money, but I’d still refuse. I’m glad I’m learning how to say no to certain people.

[@kenallenchannel3911]

@@jilillsimmons6782 same I’m still learning how to say no… it sure was a hard learning lesson, mistakes happen for us to develop in the future to be more wiser and know what type of people we should dismiss from our life from our progress

[@spawn11]

If they asking through text the best thing is not to reply back. If they ask you on phone call just disconnect and pretend battery died. If they ask you face to face just counter ask them money that you need to pay rent, VISA expenses, for grocery and stuff....NEVER SAY NO. DIRECT ANSWERS ARE CONSIDERED RUDE

[@silviamonz2062]

In some countries this would be considered cowardice we are not all from Asia

[@silentlessons4221]

dont say no but simply say u dont have.

[@spawn11]

@@silentlessons4221 Openly saying saying NO will create enemies lol. People will start hating you and try to keep grudges. Not worth it to create enemies for no reason.

[@stockyguru]

@F A 😂

[@connorkenway288]

@@spawn11 they get mad when I say I don't have it and I be telling the truth and they get mad

[@demifiendo]

I gave my friend $60 and I’m gonna give him $60 again, this is a huge problem for me and my mental health is becoming worse

[@adrianhicks584]

I think you should decide what is the upper limit. Like what is the maximum you can give your friend before saying no. Is it $200? Or $150? Or stop at $120?

[@chavonnidaharley9341]

Was I they only one that caught this the FRIEND HAD A HIGH PAYING JOB. That means there income was not the normal folks type of income, they had some serious money coming in. No matter if you make low, mid or high YOU SHOULD ALWAYS SAVE. Pay your tithes, give your Offering, Pay Yourself (FINANCIAL FREEDOM FUND) and then pay your bills. Do this and you will never be broke. I have learned PAY ATTENTION TO PEOPLE AND HOW THEY SPEND THERE WHATEVER AND THAT WILL TELL YOU WHY THEY BROKE. Now he or she done Played you and when they come around they want to ACT CRAZY LIKE THEY DON'T KNOW WHY YOU FEEL SOME TYPE OF WHY ABOUT THEM. It is just BEST PRACTICE TO NEVER, EVER, NEVER LOAN FAMILY OR FRIEND MONEY. If you don't have it to JUST GIVE then DON'T LOAN BECAUSE I EXPECT TO BE PAID BACK. You are not an ATM, PAY DAY LOAN OFFICER, SUGAR DADDY/MAMA, HR PAYROLL IN ADVANCE ON YOUR CHECK. Take care of you and yours. If you got enough sense to BUDGET & SAVE then it is every MAN/WOMAN FOR THEMSELVES BECAUSE IF I CAN DO IT THEN YOU CAN AND SHOULD BE DOING IT TOO.

[@ChurlzVA]

Calm down with the CAPS lol. It makes you look silly.

[@puravida5683]

Avoid the whole situation! Don't lend currency! If you lend currency to a friend, it will change that friendship forever!

[@tylergnosis2581]

Wise word's

[@donnam.5578]

I would be hesitant about receiving money from "friends." I used to be this unconditional lender until I was screwed over. I always believed in saving up for things that I wanted. I remember one time, I was being pressured into purchasing something, and I kept saying that I can wait on it. Sometimes, I had to see an item in the store several times until I'm convinced that I can't do without it. At the time of the incident, I should have just asked my parents to give me the money, but I was young. But, the law says that if a person is a minor they can't enter a contract (i.e. borrow money) from an adult. However, I did make payments on it, but I was in high school and I believe at the time that I wasn't working part time or it may have been in the summer. Sometimes, I have to learn to trust my instincts.

[@controllerbrain]

Just posted this question to Reddit and included this vid :)

[@jeremybriggs6951]

How about your girlfriend