Banks Do Not Operate On Trust When Lending Money, So Why Should You?

Banks Do Not Operate On Trust When Lending Money, So Why Should You?

Have you ever gone to the bank to borrow money and someone looked at you and said “I trust you here is the money”?   Nope, that has never happened to me.

Banks Do Not Operate On Trust When Lending Money, So Why Should You?
Banks Do Not Operate On Trust When Lending Money, So Why Should You?

I remember  when we were applying for a mortgage to buy our home.  We had to present our payslips, divulge if we had any debt and even they wanted to know how many kids we had.  If the bank was operating on trust they wouldn’t have asked for our payslip, right?

When you get paid you get a payslip right? That is proof of payment to you and the money goes straight into your bank account. Do you know why? So, that there will be proof that you got paid.

So, OK what am I saying? The world doesn’t run on trust it runs on documentation and proof. So, quit sending money to people to buy you investment properties abroad using their Identity cards because you trust them.   Look it doesn’t matter that they are your family members or best friends always get documentation.

Banks Do Not Operate On Trust When Lending Money, So Why Should You?
Banks Do Not Operate On Trust When Lending Money, So Why Should You?

Your parents are not exempt, my dad bought a house on behalf of my sister using her own name. This wasn’t because these two don’t trust each other. They do, but the house is my sisters so why use our dad’s name.

Buy your own house in your own name and use your own money to renovate it. Do not make this verbal arrangements, they do not stand in the court of law.

Love your family enough not to let money or material things come in between you, family is for life

Banks Do Not Operate On Trust When Lending Money, So Why Should You?
Banks Do Not Operate On Trust When Lending Money, So Why Should You?

Always think long-term, think about the next generation for instance if you make a verbal agreement with someone.  That will only be known by the two of you. Your kids will probably not know this when you are gone. Your kids might end up losing on their inheritance because you did not document things.

I am harping about money lately because I lived long enough to see a lot of heartbreaks and family breakdowns due to money issues. I have seen kids being robbed of their inheritance because their parents did not document things.

Remember people change, so protect yourself and protect your kids.

Thank you for reading my posts, sharing them on social media and comments,

Love & blessings

Credits-Model my lil sis,who happens to be a finance student$$$, love you heaps.
Photo taken @ The Nesbitt Castle, Bulawayo, Zimbabwe

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