Lending has been a traditional form of business and humanitarian assistance from the ancient period up to the present time. Its history first began in ancient Greece when borrowers were asked for collaterals to secure loans and any other borrowed items. While in middle ages through the 1800s, well-off people lent the poor and obliged them to work for their debts in return. People used to borrow anything with random terms as there were no organized institutions for such transactions.
Although several developments happened throughout history, these practices still exist today. Just like how borrowing has been a part of people’s lives ‒ from large-scale or start-up business applying for secured or unsecured business loans to a preschool student borrowing a piece of crayon ‒ we can say that everyone, for sure, experience the art of borrowing. Due to the overwhelming opportunities are given to borrowers, borrowing is becoming a permanent staple of most borrowers’ lifestyle which sometimes leads to negative results.
Learn the etiquette of borrowing by paying attention to the following reminders:
1. Never borrow anything you can’t promise to return on time.
Returning a borrowed item on or ahead of time is a general rule of thumb. You don’t keep lenders wait for too long before you care to give the item back. As a courtesy, let the person know your reason for borrowing the item and the exact date and time you’re expected to give it back. Be mindful of the schedule to avoid missing it. Failure to return on time may cause a fuel of war between you and the lender.
2. Never break any item you do not own.
If a person lends you something, it means he/she gives you the responsibility to handle and use it with care. Not because the item didn’t come from your own money doesn’t mean you can overuse it or just let it break. Whatever happens to the item, as long as it’s under your care, you are obliged to fix it or might as well replace it with a new one if it’s beyond repair.
3. Never force anyone to lend you.
There are borrowers who easily feel upset just because the other person refuses to lend what they asked for. Remember that owners are not obliged to provide you with their items every time you need it. You have to understand that they’ve invested money on it for their own use and not for something to share with everyone else all the time. If you try to put yourself in the shoes of the owner, you’d probably realize that lending wouldn’t make you feel comfortable and at ease, especially when you value the item the most. In place of feeling bad, try to save money to buy the same item for yourself.
4. Never make borrowing a habit.
Borrowing is fine unless you make it a regular habit. If you think that borrowing can make your life easier, then you might want to think about it twice. This type of borrower’s mentality can eventually lead them to the serious case of borrowing addiction or worse, a borrowing syndrome. Some people fail to repay their debts so they would borrow money from Lender A to pay what they owe to Lenders B, C, and D. Remember, a debt must not be paid off by another debt.
A further type of borrower’s mentality is borrowing something they already have. I mean what’s the point of borrowing a car from your cousin if you already have your own vehicle? What’s the point of asking for a large amount of money from your parents if you already have your funds and income sources? Maybe there are just people who find enjoyment in using other people’s stuff without realizing how aggravating this could be to the lender’s end.
5. Never rely too much on borrowing.
You can’t just make your life depend on borrowing and asking for help from other people. Not every day is a bed of roses and not everyone can provide these roses for you every time. So better work hard for yourself to suffice your needs and avail the things you used to borrow before.