Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk
Frenemies – friends disguised as enemies – are people driven by jealousy, resentment, or inferiority. Everything about them brings nothing but negativity to your life. Knowingly or unknowingly, they are out to bring you down and perhaps impair any prospects of success that you might have. They weigh down on your life, emotionally, mentally, and financially – they can actually be making you poor!
But, how do you identify and isolate such people? They could be anyone – friends, colleagues, even extended family!
Look out for these red flags:
They don’t want to put in hard work and effort for anything. They want quick fixes and are usually after easy money. Not just that, they are irrational with their schemes and investments that make them lose their money and also the money of those who trust their motives or actually want to help them out – that’s you – the friend!
They gamble. They take uncalculated risks. They are never focused on one thing with the aim of succeeding at it. They keep switching interests, splurging money, and involving those around them in their impenitent journey of chasing luck. Don’t fall for their plans to find the pot of gold at the end of the rainbow – they’ll drain your money too.
Needless to say, these people don’t know how to manage their money – and honestly, they’re not even interested. They have an extremely casual attitude towards work and you’ll usually find them hopping jobs or perpetually unemployed. They have no savings, no investments, and are piled with debt. Guess who is lending them the money – you of course – because the mainstream lenders wouldn’t, because of their bad credit history.
Since they don’t have the money, savings, or a credible source of income – every little problem is a big financial emergency. They don’t want to work to improve their situation. They don’t learn from their ongoing financial situation. They just continue as is – being a burden on those around them. Why would they care, they have friends like you to pull them out of trouble
They blame their life and circumstances for everything wrong happening to them. They are struggling financially, it’s because their luck isn’t on their side. They don’t have a job, it’s because the job market is bad. They don’t own up to their situation and don’t want to go through the trouble to improve it. They play the victim card and feel those around them who’re financially stable, should help them out of their troubles.
They have a nasty habit that they can’t seem to get rid of or don’t want to get rid of. It could be anything – an addition to alcohol, drugs, gambling, risk taking, or even sex. They have zero willpower and they are always getting into trouble because of it. They let you down and they don’t feel any remorse over it.
If you sum up the time and money you invest in people like these, you’ll realize the extent of loss they make you go through – especially financially. The money you loan out to them can actually be invested somewhere bringing returns for you. Your time wasted can be put into constructive work that helps you improve your financial standing.
But no – with these frenemies around, you can’t do that. They are actually making you poor! Beware!
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