Never Lend Money to These People ⛔️

Warning: never lend money to these 3 types of people. Your money's hard to come by, inflation is high, the cost of living crisis has gone through the roof. The last thing that you want to do is lend your money to the following 3 types of people who will probably lose it and make your life a nightmare. Number 1: never lend money to friends and family. The thing with friends and family is they will take advantage of your kindness. They will take advantage of the relationship they have with you. They may not intend to do it, but they will do it. They will be comfortable. They will pay everyone back before you. Now, the last thing you want to have to do with friends and family is to get a second or first charge or some kind of security or collateral. If it went wrong, you wouldn't want to have to repossess their house to get your money back. But friends and family, they will take liberties around paying you back more than they should. Really, if you want to lend to friends and family, you need to act like a bank, act professionally, have a contract, and they need to act like a professional borrower and pay you back and know that there are consequences if they don't. And unfortunately, friends and family, there's too much relationship, there's too much taking the piss. So be careful to lend your money to friends and family. Uh, David here has said I'm wrong. Well, everyone is entitled to my opinion. If anyone can give me a good reason why you should lend to friends and family over and above lending professionally with a contract, with security, let me know in the comments. But I am warning you, if you want to, um, preserve and manage your money well, don't lend it to friends and family. If you want to just help them help them. If you want to, um, maybe you want to lend them some money because you want to see them do well and you think they need some help. Don't lend the money you can't afford to lose. And also, if you do lend them money, just accept the fact that you may never get it back and you might have to just convert it into a gift. In that instance, it might be fine. But you know, I've done a video like this before a few months ago, and many people said that they'd lent to friends and family and it was a big big mistake. It ruined their relationship. It drove a wedge between the blood of family and the relationship with friends. If you want to help them, help them. Yeah, someone has said too late, I'm still waiting for my 3 grand back. Exactly. I agree, David, educate them before you lend them money. I agree with you on that one. Okay, so the second type of person I think you should not lend your hard-earned money to is someone who's got bad credit or bad history with money. How you do anything is how you do everything. What you've done in the past will probably dictate what you do in the future. Therefore, if someone's got a really bad track record of borrowing money and going bust and borrowing money and not paying it back, I don't think you should be lending them money because they will treat your money like they treated other people's money. The problem sometimes with people when they lend money is they're soft, or they don't want to do the legals, they go on intuition. By the way, you should never go on intuition when you lend money. That's just plain stupid, unfortunately. Um, and they don't do it professionally. So look, I know in America if someone's gone bust once or twice, that kind of makes them investable, But investors, like private investors or firms, VCs, yeah, they'll lend money, yeah, they'll give money in exchange for shares, but they're professional companies. They'll have hardcore collateral and security on their money. Why risk lending money to someone who's already proven that they're not very good with money? The next place you should never lend money to, in my opinion, is the government. Savings is essentially lending money to the government. The government take your money, they give you virtually nothing in interest, it's getting wiped out by inflation. Then they'll take your money and they'll lend it out and invest it out, and they'll factor it by 10. So for every pound you save, they'll lend out 10. They'll give you virtually no security, yet they'll make a load of money on your money. And then they won't insure the money. If the banks go bust, your money is gone. So look, I personally see a government bond or a savings account as lending the central bank's or the government's money. That's what it is. Why would you do that? Exactly, Nazri, the government doesn't care about you and your money. So lend it to yourself, buy some real estate, put it in the stock market, buy some gold. So, um, let me know what you think about these 3 places I believe you should never lend money to friends and family, people with, um, bad credit and bad history of borrowing money, and the government. Now look, if you want to make sure that you make, manage, and multiply your money well, you want to make sure that you invest in assets that produce recurring income, you lend and invest your money in the right places, make sure you join Rob.team. Rob.team is my digital financial freedom platform where you can start and scale any business, make, manage, and multiply money, get better financial education and knowledge that they don't teach you in school and the system doesn't want you to know. You learn how to make, manage, and multiply money like the banks do on you. You'll learn how to be an investor, be an entrepreneur, and build multiple streams of recurring income. There's hundreds of hours of courses, resources, and masterclasses going back years, and you can join for less than 20p a day. You can cancel anytime. We with no ongoing contract. People are typing the link in the comments. Open a new web page now and type in rob.team. Rob.team. That's right, just open up a new web page, type rob.team. Join now for less than 20p a day. You can cancel anytime. Um, and there is the 9-module, 10-hour How to Invest series. There is the 21 Ways to Monetize Social Media Masterclass. It's the How to Increase Your Earning Power Masterclass, how to start your side hustle, build multiple streams of income. It's all in rob.team. Rosemary has said their rob.team content is really good. Darren has told you to join there at rob.team. Rob.team. Invest your money wisely. Invest your money in yourself. Why lend money to other people when you could invest in yourself? You are your best asset. Invest in yourself wisely. You pay yourself the best return. Um, Save Our Sanity has said, um, Rob.team is a fabulous community. That's another thing, it's a community of nearly 10,000 movers, shakers, and change makers. People who are entrepreneurs who want to be, people who are starting their business or scaling their business, um, and people who want to build multiple streams of income, people who want to earn rather than pay all their money in tax. Do you know there's a masterclass in rob.team on how to get your tax bill down? There's a masterclass in rob.team on how to build multiple streams of income. There's a masterclass in rob.team in how to build recurring and passive income. Darren has said there's so much value in it, it should easily be £5,000. So just open a new web page, type in rob. T-E-A-M. Because look, your money is hard-earned, and maybe you think you don't know how to invest it yourself, that's why you want to invest it in, um, someone or somewhere else. Or maybe, you know, you want to help people. The best way to help people is to be successful yourself and then give them money, or lend them money and do it professionally with legals and contracts, or lend them money but not necessarily expect it back and just see it as a gift. Um, but why would you lend money to other people when you can invest in yourself? That's something that I wonder why people don't do more of. So just a quick live. I hope that's useful. Um, don't lend money to friends and family. Don't lend money to those who've got really bad credit and proven history, um, multiple times of losing money, because the banks wouldn't, so you shouldn't. Um, Jenny has just joined Rob.team. Um, so yeah, thanks for joining there, Jenny. I do my best to get through all the questions. I can't get through them all. Keep trying. Um, and don't lend money to the government. Multiple— um, minimize the amount of money that you put in savings. Maybe your living expenses for a month and a couple of other months, that's it. Then get out of the system and get it into your own assets. Get into decentralized assets. Be careful because the government, um, they have the illusion that they're safe, the illusion that they're secure, but the bonds and the interest rates are at least 10% less return than inflation is wiping your money out. So you could get negative 10, negative 12 plus percent by giving your money to the central banks in the form of savings and the government in form of— in the form of bonds. And I don't think it's as safe as you think it is. So thanks for tuning in. Quick one here. I wonder if you wouldn't mind sharing as well, because this little message might protect quite a few people from losing money. Um, so, um, yeah, um, hit the share button. And remember, if you don't risk anything, you risk everything.