Recently, I refused to allow my cousin to borrow 40,000 yuan from me. Although I have hundreds of thousands of cash on hand, I also have more than a million liabilities, which are actually negative equity. I considered that I might not get it back for a long time if I lent him 40,000 yuan, and that relatives often borrowed money without regard to interest and repayment date, which was exactly what I didn't like. I think that using the 40,000 yuan to pay off the mortgage can save more than 2,000 yuan in interest every year, and lending this money is equivalent to losing 2,000 yuan a year.
At the same time, the borrowing time will weaken, and even if relatives will verbally say that they will repay the loan as soon as possible, in practice it will often drag on for a long time. In addition, in addition to interest losses, there are also inflationary losses, and money is depreciating every year, which is objective. It is difficult to borrow money, but it is even more difficult to collect debts, and I have more than 30,000 foreign debts that have become bad debts, two of which were borrowed by relatives to treat my children, and now the economic conditions are not improving. In addition, there is a small amount of money, which is obviously demolished by the other party, but he does not take the initiative to return it to me.
To sum up, borrowing 40,000 yuan, the annual loss is 2,000, inflation is calculated at 3%, the average payment cycle is 5 years, and when I get back 40,000 yuan after five years, the actual loss is 8,000 yuan plus the purchasing power shrinks by 2,000, and I only get back 30,000 yuan after five years. Even so, there is a high probability that you can only get a thank you, and even thank you is enough. Therefore, I think that it is no longer possible to borrow money between relatives. This time I rejected my cousin and basically lost a cousin as well. What would you do?
If it were you and your relatives asked you to borrow money, would you borrow it?