I want to share one of my friends' stories, who is currently struggling due to the loans he has taken. About a year back, I received a call from one of my friends who was out of touch for a very long time. He asked me if I could lend him some money because he was in a financial crisis. I usually don't lend money to anyone, the first reason being I'm not that well off yet, and the second reason is the belief that it spoils the relationship with that person. 

But unfortunately, this person was insisting so much and I had to lend some money. First of all, even if I lend money to someone, I make sure that I don't give that money from any of my emergency reserves. I only lend money if I'm sure that I will be okay even if they don't return that money back to me. 

![](https://images.ecency.com/DQmV4QZsNUXEZprqhAW3pzhSN1yZHYDdbhN15ryYQvjK5d1/image.png)

[Source](https://pixabay.com/photos/cash-coins-pounds-money-finance-1342228/)

## Curious about his financial position

Since I was lending money to this person, I was curious about his financial position. The main reason is because I want to know whether I would be getting my money back or not. But the way he explained, I was almost sure that I won't be getting the money back, but I still wanted to give because he used to be a nice guy and he once used to help others a lot without expecting anything in return. 

He had bought a house and spent all the money on that house. The EMI that he was paying towards that loan was too much and a bit higher than what he would need to run his family. So every time, he was adjusting the expenses by lending money from someone. By hearing all these things from him and not through him, but instead through another friend, I was sure that I won't be getting the money back anytime soon but even then I wanted to support him. 

Looks like he has saturated himself with all the contacts he had and got the money from all the known contacts. It is very sad to see him accumulating a lot of loan from multiple sources every month just because he was unable to make enough for the month. Currently, he is lending money from multiple people, and if one person is asking the money back, he is getting the money from someone else and rotating it. Apart from these, he is also getting loans for a higher interest rates from other lenders too which has currently put him in a very bad financial position. 

Due to all these things, he is now struggling to pay his loan back, and at the same time, he has also lost his peace of mind and every month is a struggle for him now. The lesson to learn from this is that we have to be very careful with our desire. Even if we make some spending, we have to be calculative enough, and we should never spend money that we don't have. 

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