Borrow Borrow

People keep asking you for small "loans" of money (that they will never pay back), what do you do - A, B, C, or D - which is your favourite answer, and why?

A - Tell them now is not a good time for us to be lending money. We are saving for the kids' college, retirement, or the like. But I am happy to help you get a bank loan or figure out a budget.

B - If the amount is small, I ask what they can do for me. Perhaps they can house-sit and take care of the family pet when you're away, or help paint the house, clean the basement, or build a deck? Sweat labor can pay you back as well.

C - I would tell my sibling that I won't be his or her finance company anymore, but that each of the previous loans is now a gift and that I don't expect repayment.

D - If I can afford to help (a family member), I feel it is my responsibility to do so. But rather than continue to get nickel-and-dimed, I would sit down with them and look at giving a lump sum for the year with no other asks allowed during that period.

Source: Lending money to family members, at CNN Money Magazine:

15 TRILLION Naira target

Mr. Olusegun Aganga just resumed his new job as Nigeria's Minister for Commerce and Investment. He was Minister of Finance before being returned to this new (post-election) cabinet.

According to him, the mandate of the Ministry is to contribute to the financing of the Nigerian economy by raising N15 trillion naira from the private sector. I think the job description fits his background, and thus I expect a resounding success.

There have been other ideal appointments to the cabinet as well, notably the return of Ngozi Okonjo-Iweala to head the Ministry of Finance. It's not just hype, she will be a good shepherd of the Nigerian economy (I don't mean taking us to the slaughter though :)

The mood

On the one hand, people are working hard and innovating. There is a lot of motion in the streets. There is a lot of "starting up" and a lot of competition.

A painting (unknown title) depicting workers, by Olumide Oresegun

On the other hand, many people have no money - they are unemployed, or they have worked and not received pay. Wondering if we will get there - will Nigeria be wealthy in the near future? I have a good feeling...