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, when providing a loan to someone, you must understand that there is a risk that you will not get your money back. Hence, you must only loan your excess money (something that you can accept if the person choose to not pay you back ). If you already permitted someone to borrow money from you and that person wants to borrow again, the decision to let that person borrow again is depending on that person's past record of paying to you. If that person is a good payer, then you can just let that person borrow again. If that person is not a good payer, then just firmly say No. Just reject the person in a polite way and provide your reasons in a gentle manner.