Do you need money in a hurry? Are you willing to do whatever it takes (within reason) to get your hands on the funds you require?

If you answered yes to these questions, there may come a time when you find yourself consulting with a loan shark. While this sounds like a great idea, being that you can obtain funds without much of a hassle, it can backfire on you soon enough.

Here’s something you should always remember: it’s better to turn to your family (if this is an option) than a loan shark. Here are some of the many benefits of going down this path:

  • Your family wants you to figure things out, whereas a loan shark is simply trying to make money off of your situation.
  • You can trust your family to do the right thing. Even though a family member may charge you interest for a loan, you can discuss the terms and conditions to ensure that they fit both parties.
  • You are not putting yourself in danger. As unfortunate as it may be, you’re putting yourself in a risky position if you decide to do “business” with a loan shark. If you can’t pay or fight back against what you consider a wrongdoing, you can find yourself in a dangerous situation.

Now do you see why it always makes more sense to call your family when you need money?

This isn’t to say your loved ones will absolutely bail you out, but it’s a good place to start. If you first contact a loan shark, there’s a good chance you’ll never look into another option. Subsequently, you could find yourself fighting an uphill battle in the future.

Do you have any experience borrowing money from family? Did you make the right decision? Share your top borrowing tips and advice in the comment section below.

One thought on “Call Your Family, Not a Loan Shark

Leave a Reply