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The Rules of Wealth, 3rd Edition by Richard Templar

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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 jeopardises relationships that are important. Don’t do it.

IT IS VERY BAD MANNERSTO BORROW FROMFRIENDS AND FAMILY

Besides which, friends and family aren’t ...

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