How do you deal with the situation where people who you are close to like family and friends are constantly demanding for one kind of financial assistance or the other. It is not possible to help everyone, so how do you handle it and make sure that giving and trying to help people do not turn into a problem for you. How about people who borrow money from you and never return it or even show any effort to make payment back to you, how did you go about the situation?
First Rule To Borrow: Never borrow money or resources that you are not willing to loose.
Why: If the borrower did defaulted the impact will be minimal
Second Rule: Have a helping budget for family and friends. Once you exhaust that budget you move the person's demand to the next month or season as determine.
Why: It is he who is well that can donate blood. You don't have to burn out helping others.
Third Rule: Not everybody deserve borrowing. Check for reputation Capital.