Money and friends - a combo that can either strengthen bonds or create awkward WhatsApp chat silences.
We've all been there, haven't we? Your pal hits you up, sounding a bit down, and before you know it, you're lending them a few Nairas to get through the month. But what happens when 'I'll pay you back next week' turns into a never-ending saga of excuses? As a young adult, it's crucial to balance generosity with savvy.
So, let's chat about the five glaring red flags that suggest your friend might not return your money. Ever.
Remember, forewarned is forearmed!
The ghost payer
Ever lent money to a friend who suddenly disappeared when it was time to pay back? They're active on social media, but somehow, your messages are left on 'read'. If your friend is often MIA when financial topics arise, chances are your money might just take a similar vanishing act.
The chronic borrower
We all know someone who's perpetually in a financial pickle. If your friend always seems to be juggling debts and loans from multiple sources, it's a red flag. Their financial instability can mean your loan might end up at the bottom of their repayment list.
Avoidance of repayment discussion
A friend who is reluctant to discuss a repayment plan or becomes defensive when the topic is brought up could be a potential risk. A responsible borrower would be willing to talk openly about how and when they plan to repay the loan.
The pressure pusher
Watch out for friends who try to guilt-trip you into lending money. If they use phrases like "If you really cared, you'd lend me the money," it's a red flag. Emotional manipulation to secure a loan often means they're not planning to take the repayment seriously.
Dodgy financial past
Does your friend have a history of unpaid debts, bounced cheques, or constant complaints about being broke? This track record is a significant indicator that they might not be reliable when it comes to returning your money.
This article was written by ChatGPT, the artificial intelligence chatbot.