10. Don’t Lend Money To Friends Or Family
This is a hard rule to follow. You should be cautious and do your best to say “no.” Remember, you never need a reason when it comes to saying “no,” as this is a statement all by itself. You’ll probably want to take care of the people around you, especially your siblings, parents, and best friends. You can help them if they are genuinely struggling, but the best step to take is to tell them “no.”
The truth is, once the money is gone, you will not get it back. They will not pay you back because you didn’t directly earn money, so why should they have to pay you back? No matter how kind a person is, knowing that their sibling has money can change them as they now feel entitled to a portion of the money you and they didn’t earn. Protect your money so you don’t need to struggle and find a way to help people without loosing too much of your protection.