Have you ever had someone ask to “borrow” money from you? Chances are they were looking for an “interest free loan…” as in, you give them the money, and sometime later they give it back to you.
Now, a bit of sharing among family and friends is a wonderful thing. But sometimes it can get out of hand.
We rarely if ever give anything away for free anymore, for a couple reasons… and the perfect example of this happened the other day when Justin’s sister Jenny called him up to ask for some money.
Justin turned the call into an impromptu lesson on the importance of having skin in the game… and ended up making Jenny a very interesting offer! Watch the video of the call below!
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Episode 7: Show Notes
A few things we cover in today’s episode!
- Why we don’t give things away for free very often (if at all) anymore.
- Why charging (and paying) interest is important, even if it seems irritating sometimes.
- How to understand and appreciate the value of money… by recognizing what it costs to acquire.
Links and Resources
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