Ryan Deiss: My advice is to never loan money to anyone, unless you’re running a bank.
If the person means enough to you and you have the cash, then give it. Give it freely, and tell them you have no intention of accepting their repayment.
If you can’t afford to give it, then you can’t afford to loan it.
Simply tell them, “I’m sorry, but I don’t have the available funds to help you at this time.”
Also, loans fundamentally change relationships for the worse, while gifts change them for the better.
Even if it turns out the person is scamming you, at least you find out earlier, and you can remove that person from your life.
Dennis Yu
Dennis Yu is co-author of the #1 best selling book on Amazon in social media, The Definitive Guide to TikTok Ads. He has spent a billion dollars on Facebook ads across his agencies and agencies he advises. Mr. Yu is the "million jobs" guy-- on a mission to create one million jobs via hands-on social media training, partnering with universities and professional organizations.
You can find him quoted in major publications and on television such as CNN, the Wall Street Journal, Washington Post, NPR, and LA Times. Clients have included Nike, Red Bull, the Golden State Warriors, Ashley Furniture, Quiznos-- down to local service businesses like real estate agents and dentists. He's spoken at over 750 conferences in 20 countries, having flown over 6 million miles in the last 30 years to train up young adults and business owners. He speaks for free as long as the organization believes in the job-creation mission and covers business class travel.
You can find him hiking tall mountains, eating chicken wings, and taking Kaqun oxygen baths-- likely in a city near you.
