Friends, Family and Money

Dealing with difficult money situations.

Mixing money and personal relationships can create all kinds of discomfort. On one hand, family and friends can provide crucial support during a financial crisis. On the other hand, relationships can be easily damaged by money -especially when there are different expectations.

Money may make the world go around, but it can bring friendships to a screeching halt.

The Situation:
Your business is doing extremely well - until your friends and family start asking for hug discounts
and special services.

The Solution:
Uncomfortable feelings that arise from doing business with friends and family don't just go one way. You may feel put out by requests for discounts, but friends and family may resent feeling obligated to support your business.

One way to deal with these problems is to establish a clear policy for dealing with friends and family before problems begin. Set terms and discount rates you are comfortable with. Then when Cousin Fred comes looking for a deal, you will  be ready. You can explain, for example, that while you offer a discount to friends and family, you must give priority to regular clients. If Fred's project is urgent, he can pay full price or look elsewhere.

The Situation:
An old friend has found a wonderful business opportunity and is looking for a large loan.

The Solution:
Explain that you aren't comfortable lending money to anyone. Alternatively, offer to lend a smaller amount. If you decide to make the loan, create a written agreement to make expectations clear.
You may even set terms that are favorable to you - like charging interest and establishing a repayment schedule. Just make sure you never lend more money than you are willing to lose.

The Situation:
You are asked to be a cosigner an a loan, credit card application or mortgage.

The Solution:
There are many reasons to be a cosigner. Parents often help their children establish credit by cosigning for them. But there are risks.

Limit your risks by talking to the lender. Find out how cosigning will impact your credit rating, and have the lender agree to notify you of any late or missed payments. That way you can deal with problems before they get out of hand. You can even try to limit your liability to the principle and not the interest owed.

Money talks, but make sure it doesn't stop your relatives and friends from talking to you!

Crammer Tips:
You may feel put out by requests for discounts, but friends and family may resent feeling obligate to support your business.
put out - stop,to stop a fire, to put out a fire.
put out - here is refer to "to be upset or irritated".
Sara felt put out by the idea of having the dinner party at her house.
If it's too much trouble for you to help me, please tell me. I don't want you to feel put out by this.

Vocabulary Tips:
bring to a halt- bring (brought)- come to, let something happen.
halt- stop, end of it.
bring to a halt -make things stop or end of.
*A sudden illness brought his career to a halt.
*Traffic was brought to a halt by an accident.
screech-loud, and high voice, very high pitch sound.发出尖锐的声音，尖叫。
*The parrot was screeching while the owner clipped its wings.
*The brakes screeched when I made a sudden stop.
*The baby screeched so loudly that he lost his voice.
obligated-responsibility, have to do it. 有义务的，有责任的，别无旁待的。
*Police are obligated to protect people.
*Claire felt obligated to help her brother, although he's already 30.
discomfort -  "dis" -"not".
impulse purchases- buying things without thinking.
We need to learn how to avoid impulse spending/purchases.
alternative -a big fancy way to say that there is another possibility or option. 其他选择，二者选一。alter-其他
*We can go to a movie tonight, or alternatively we can stay home and watch DVDs.
*We can drive to Seattle, or alternatively we can fly there.
repayment- pay back money you owe.偿还 repay-偿还, payment 付款
repayment schedule-偿还欠款时间表。
*Being responsible with your repayment can get you out of debt sooner.
*The bank issued a notification demanding instant repayment.
liability -legally responsible for something. 责任，义务。
*The judge found the defendant exempt from all liabilities from the car accident.免除被告所有的责任。
*The company is now facing heavy liabilities.巨额债务。
cosigner- sign your name on a formal contract with someone else and responsible for it.
out of hand - out of control.

Chat Room:
money makes the world go around.- money make the world move. 金钱使这世界运转。
love makes the world go around. 爱使世界运转
something makes the world go around, something is powerful and very strong that can influence others.
What goes around，comes around. repay by what you do, refer to bad things that you did to others, now it is happened to you.
enough to go around. - enough for every one, enough for the whole event.
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money talks -片语，金钱能使鬼推磨，有钱就是大爷。不是“钱会说话”之意
money is power-金钱万能。
Put your money where your mouth is.-不要说大话，光说不练，不如用实际行动来证明。


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