July 2015
Beginner
272 pages
4h 30m
English
Content preview from The Rules of Wealth, 4th Edition
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RULE 93
Never borrow money from friends or family (but you can allow them to invest)
I think we might need to have a quick recap of what friends and family are there for – and what you are there for, for them as well. Friends are for:
- caring
- loving
- supporting
- nurturing
- helping
- advising – and getting advice from
- comforting
- having fun with
- sharing.
Nowhere in that lot does it mention:
- borrowing from
- stealing from
- conning.
Put simply, it is very bad manners to borrow from friends and family. It sets up too many issues and agendas. It causes resentments and recriminations and suspicions. It jeopardizes relationships that are important. Don’t do it.
Besides which, friends and family aren’t proper sources of loans because they aren’t licensed ...
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