Post 128 Financial management
I was having a chat with my friend on financial management when he told me a quote from Shakespeare on borrowing and lending, He said he would rather give whatever he could afford to his friends than to lend. He would also not borrow but to learn to cut down his wants.
The quote was part of Lord Polonius' speech to Laertes from Shakespeare's Hamlet, Act 1, Scene 3
“Neither a borrower nor a lender be;
For loan oft loses both itself and friend,
And borrowing dulls the edge of husbandry.”
When one lends money to a friend, one will lose both the money and the friend when the latter disappears for not wanting to pay back; and if one borrows one will not learn how to be thrifty.
Many credit card defaulters have been blacklisted by banks for not paying their credit card dues. This has become common especially among the young working class. They are bad borrowers and are miles away from being a lender. It is best that they learn how to budget their finance and spend sensibly to “neither a borrower nor a lender be”.
He who borrows has much sorrow.- Ho Nee Yong
24 January 2012
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