The Quote of the Day Show | Daily Motivational Talks 2154 | Dr. John Demartini: “Don’t Ever Loan Any Money.”
Apr 9, 2025
Dr. John Demartini, an expert on human behavior and leadership, dives deep into the complexities of loaning money to friends and family. He emphasizes the importance of setting clear boundaries and terms to avoid misunderstandings. With engaging personal stories, he highlights the psychological factors that influence these decisions and the potential risks involved. Demartini warns against enabling financial irresponsibility, encouraging listeners to foster self-reliance in their relationships instead.
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Book Loan Gone Wrong
- John Demartini lent a book to his personal trainer who delayed return and damaged it.
- This exemplifies why loaning possessions often leads to loss or damage.
Never Loan Money Without Rules
- Never loan money to friends or family to avoid loss and damage.
- If you must loan, enforce strict rules: payment schedule, dates, penalties, collateral, and legal fees.
Law of Moral Hazard
- People repay loans only if the pain of not paying exceeds the pain of paying.
- Penalties must outweigh the cost of repayment for effective loan recovery.
