Borrowing Wisely 2
Welcome to Life and Success Management. We are continuing on the above topic. Yesterday, I mentioned few "Don'ts of Borrowing". They are by no means exhaustive. Today, let's talk about few things that will make it easier to win the trust of the potential lender and also give you access to greater opportunities in future. They are things that qualify you as credible to borrow in the first place. Please note that the context is largely of informal fund-raising. $ Before you borrow, have a realistic repayment plan. Why? Trust is a very important, endangered species, so to say (especially as touching money matters). Don't miss your opportunity to proof that you can be trusted; write down how you intend to pay back. Is it feasible? It will be a mistake if you are hoping to use the money you lent someone else to repay. It must be from a fairly sure source like regular personal income. $ Find a source that does not need the money back at exactly the period you kn...