Lending Decisions

#SucceedingWithoutBleedingSeries #WorkplaceSurvival #LendingDecisions

Borrowing or use of credit in itself is not the problem but excessive borrowing or misuse of credit. Decision to borrow or not to is a personal decision as it is a principle not a command in TIMELESS PRINCIPLES.

The question then is: if you don’t believe in borrowing should you extend credit to someone else? The answer will be that it is not wrong to lend because TIMELESS PRINCIPLES does not rule out borrowing but gave principles to what debt/borrowing and the excessive use of it will cause a person.

You’d say but “I don’t believe in borrowing and I don’t lend to people. How do I handle buyers who prefer to pay with credit cards’?

Well, I have personally thought of this for several years: How do you control use of credit cards on your platform. Not for any reason but as a way of discouraging people from accruing debt.

And here is the answer I found and got:  Ensure not to use advertising that promotes use of credit for those who can’t afford it.

What you don’t want to do is to feed people’s weaknesses. Help others be better steward of their resources and not indulge them in financial recklessness.

Follow on Twitter @OpeOsiyemi ; Visit Blog @: http://www.opeosiyemi.wordpress.com

People | Insurance | Sustainable Value

#SucceedingWithoutBleedingSeries #Business-WorkPlaceSurvival #TLD

Have a Truly Rewarding 2015 and Productive Week. Good morning!

Advertisements

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s