When to Lend Money According to “The Richest Man in Babylon”?
When it comes to lending money, there will always be two roles involved: the lender and the borrower. Oftentimes, people take sympathy to whoever is in the borrower’s shoes, because borrowers are usually in a difficult life situation that forced them to assume the role. Yet, being in the lender’s shoes is not as easy and privilege as it sounds. The lenders are given a choice: should I lend my hard earned cash or not? Am I being selfish if didn’t? Is it wise to do so?… and etc.
In this article, we will share with you some worthy financial quotes specifically on when to lend money according to the book “The Richest Man in Babylon”. If ever this article serves you purpose, then please share this article to help others in need.
- When lending to someone who is close to you: “If you desire to help thy friend, do so in a way that will not bring thy friend’s burden upon thyself.”
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When lending to someone who still has an unsettled balance: “When they repay, I give it back. but if they never repay. It will always remind me of one who was not faithful to my confidence.”
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If confused on who to lend their money to: “The safest loans are...”
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“…those possessions are of more value than the one they desire.”
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“…those who have the capacity to earn.”
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“…those who are guaranteed by good friends of the borrower who know him honorable.”
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To thinking twice when lending money, which will be used for an irresponsible cause: “If they borrow for purposes that bring money back to them, I find it so. But if they borrow because of their indiscretions, I warn thee to be cautious if thou wouldst ever have thy gold back in hand again.”
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To lenders on how to be wiser on lending money: “It is easy to lend. If it is lent unwisely, then it is difficult to get back. The wise lender wishes not the risk of the undertaking but the guarantee of safe repayment.”
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To not letting your emotion decide: “Then not be swayed by foolish sentiments of obligation to trust thy treasure to any person. If thou wouldst help thy family or thy friends, find other ways than risking the loss of thy treasure.”
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On who should you trust your money: “Be not be swayed by the fantastic plans of impractical men who think they see ways to force thy gold to make earnings of dreamers unskilled in the safe and dependable laws of trade.”
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A simple reminder you can impart to the borrower: “Youth is ambitious… Youth, never having had experience, cannot realize that hopeless debt is like a deep pit into which one may descend quickly and where one may struggle vainly for many days.”
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Last but not the least, and just a general rule in case you find it hard remembering the tips above: “Better a little caution than a great regret.”
That’s it. Did these financial quotes able to help you? If they did, please comment below your favorite quote. How were you able to apply it in your existing financial issue? 🙂
Also, take time to read the book “The Richest Man in Babylon” by George S. Clason. It’s highly recommended for it will help you on how to manage one’s personal finances.
