Squeeze the Stone

When people come to see me and start facing the truth about their finances, they’ll often say, “Well, I owe my brother $5,000, but what I’m really worried about is that I owe $8,000 on my credit card bills.” But I’ve seen money destroy personal relationships so many times, and I know what loaning money to, or borrowing money from, someone you care about can do to both of you. Remember: People first, then money. Personal debt is every bit as important as institutional debt, and I would much rather have a credit card company, with all its resources, tracking me down than watch as my best friend grew more and more resentful the longer I waited to pay her back the money she lent me in good faith and that is long overdue to her.
It’s this simple: Whether it’s personal or institutional debt or both, you must face your debt head-on. Otherwise the disrespect starts to take root in your soui. Even if you have permission from the person who loaned you money to take your time, it will still weigh heavily on your heart every time you think about it (which will be often) and fail to take action. It will be harder and harder to face people to whom you owe money in person. Remember: Disrespect repels money. Not paying your debts is a serious form of disrespect that makes it almost impossible to find new ways to create new money to pay off old debts. Not paying debts will not make them go away; instead, it will make your money vanish, and possibly your friendships, too.

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