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If you just follow these 3 principles when lending money to family...

Machine translated


Principle 1: Assume you will never get it back the moment you lend it.
Principle 2: Only lend to your spouse's immediate family or both sets of parents; be firm and do not lend to other relatives.
Principle 3: If they ask to borrow more, you can feel justified in setting boundaries and refusing.
I think you just need to keep these three in mind..
I lent 5 million won to my parents-in-law, and even though they said they would pay it back, it has been over 5 years and I haven't received it.
I just decided to treat it as a gift.
When they asked to borrow money again later, I didn't just act harsh; I said, "I'm sorry, but it is difficult for me to lend money anymore,"
and now we visit each other comfortably without any awkwardness.
Unless losing that 5 million won will ruin your life or cause you to miss out on a vital investment that leaves you struggling,
it might actually be more beneficial to just think of it as giving it away generously and use that as a way to hold your ground a bit more at home.

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