The borrower is slave to the lender......
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DEBT IS NOT A MATHEMATICAL PROBLEM, IT IS A BEHAVIOR PROBLEM !!
I was in a situation where I had borrowed money from a family member, and paid it back, dollar for dollar, as agreed. But it was not really an equitable deal for the lender, because she didn’t make any interest.
So, I sat down and figured out what she would have made if I had been paying 8% for the duration of the loan, and gave her that in cash, not taking no for an answer. It wasn’t that much money, and everybody felt better about the whole thing.
what I did was whenever I paid off a loan, I put half of the usual payment into the next load, and splurged with the other half. that way I had the benifit of being to relax and take a bit of stress off, yet I still got ahead on my other loans.
if you don’t get some reward for paying the debt off, you feel like you’re caught in a grind with no escape. you gotta let off steam every now and again.
I have turned family members down who have asked to borrow if I don't believe they've done all they can on their own to resolve the problem.
Polonius:
Neither a borrower nor a lender be,
For loan oft loses both itself and friend,
And borrowing dulls the edge of husbandry.
Hamlet Act 1, scene 3