Audio By Vocalize
Be honest with yourself before you lend. If losing the money would break you, it is not a loan — it is a gift you cannot afford. [iStockphoto]
In March, your cousin called with that voice, just lend Sh5,000, he said. Till the end of the month, he added. You sent it because he is family and saying no felt heavier than the money. End of month came. Nothing. So did the next one.
You have never asked him for it. That would be rude. Meanwhile, somewhere in between, a small gap opened in your own budget. So, you tapped your phone, took a quick digital loan, and closed it. Then another to clear that one. Then a third.
Here is what has quietly happened: you are now paying interest to a mobile lender to cover money that is sitting comfortably in your cousin's pocket. You did not just lend him Sh5,000. You are financing his life on your credit score.
