This piece is part of my 2016–2026 archive migration. Some original formatting, content, and external links may be missing, changed, or not be optimized.
Another way to prevent others from asking you for money
1: Give Your Broke Friend A Personal Finance Book In my article, Give Your Broke Friend A Finance Book The Next Time They Ask For Money, I recommend if you have a broke family member or friend that frequently asks you for money, then give them a personal finance book, so they can educate themselves about money so that they won’t have to ask you for money anymore. If you’re financially independent, you don’t ask others for money unless you forgot your wallet, don’t have access to your bank accounts, are getting a business loan, or are fundraising. Medium Edit description #2: Join The Loan Shark Life But let’s say your friend is uninterested in bettering their finances. Well, there might be another solution to experiment with that I’ve tried. Another way to help someone out financially is by giving them a wake-up call and treating them like a consumer of a financial product (i.e., a loan). If they’re reliable and follow through on their word, charge them interest on the money you give them, and treat it as a loan. Not only will it make them consider asking you for money as frequently, but it will also potentially help them manage their money better. Growing up, I went into the loan shark business, gave out several loans, and charged record interest rates since the loans were so small. It was good business. Eventually, people that asked me for money eventually got the picture and changed their financial habits, which was good for them and me. Once you realize how much money you’re wasting by paying interest because you’re not managing your money well, you start to feel some type of way. From this point, one of two things can happen: You change your behavior. You continue your behavior.
3: Give The Money Without Any Expectations Many times, it made sense to give without mentioning a finance book or charging interest. People go through challenging situations and genuinely need help. If you have the means to support them, these are the moments you live for…to help and serve others; there is no better feeling than this. What It Means To Give Without Expectations I once asked an old friend, “Why do you give with expectations?” They didn’t know how to answer the question, but I told myself I never wanted to emulate that behavior. When you can give, it makes sense, and if a person genuinely needs help because of things out of their control, then help them.
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.