Owe Money Pay Money

Have you ever lend money to your friends or relatives in your family and then find it difficult to get it back? Well, I did encounter this situation a few times in my life. So what is the real problem here? Because some people are often not able to manage their money well and they tend to spend too much that they got to borrow money from others to tide it over until they get their next paycheck. Worse still is that there are people who do not even have jobs and their friends trusted them that they will pay back on the deadline. So in the end, they are unable to pay back on time because they don’t even have money.

In this post I would like to emphasize about owe money, pay money. No matter what situation you are in, in the end, you still got to pay back the money that you owe if you really owe people’s money or bank’s money. Starting a traditional business is not easy as a lot of capital is needed for setting up. That is why many businessman will tend to loan money from the bank or maybe from a good friend as there is no interest for paying back and that is where the debt start to come in. So you got to know how to manage your business finance and make sure you pay back on time. The more you drag, the more debt you will have. This logic applies everywhere in our daily lives and that is why almost all the people in the world need to have a job to pay off their bills. The best thing to have is still passive income whereby you will never worry about no money at all to pay off anything.

Related article: Passive Income versus Active Income versus Commission

Although starting an affiliate marketing business does not require lots of capital as compare to opening a physical office, shop or restaurant, you still got to pay money for buying a domain name and advertisement for your website. So, there is still a chance of getting yourself in some amount of debt if you do not pay up your bills on time.


So how can you avoid not being able to pay up your debts on time? 

1. Set an alarm monthly in your phone to remind you to pay up your bills or your friend’s money on time.

This is what I did to remind myself as I have quite a few bills to settle every single month. If you really afraid that you may lose your hand phone and then unable to keep track, then you can put a note in your own personal email or Dropbox so that you still can access it to see your bills. However, you will not have alarm ring to remind you to pay the bills. The most 2D way is to have a small notebook with you and write it down whatever debts you have then make sure you do not lose it. No matter what materials you want to use to record down as a reminder to help you, just make sure you don’t lose it at all.


2. Pay back an affordable amount every month.

If you owe your friend’s money, please negotiate with him about the amount to pay back so that you will not feel so tight every month. If you owe bank’s money, then you got to discuss with the bank about the interest and how long can you drag to pay up all the amount of money that you loaned. It is not difficult to make all these arrangements as you also want to make sure that you will finish paying up all the amount. If you make yourself so tight every month, then there is a tendency of you wanting to borrow more money from other resources which will result you having more debts to pay. Please stop borrowing money if you have not pay up your current debts.


3. Save more money to pay off your debts every month.

If you are saving about $500 every month, then save another $100 to $200 more for paying your debts off. Treat your debts as one of the priority in your day to day expenses. I can guarantee that in no time, you will be able to pay off all the amount very soon. For every extra amount that you saved, do not go and touch it. Change your spending lifestyle if you need to until you clear your debts.


4. Do not borrow money from anybody or take bank loan anymore.

Why do you still need to borrow more money whereby you still got debts to pay?! Say no to borrow money or take loan from anywhere, especially Ah Long. Never ever get yourself into more debts. Best is to get rid of this habit of borrowing money from other people and use your own effort to earn more money. You do not want your friends to keep pestering you for returning his money right? It is always very sensitive when talking about money.


5. Earn more money outside of your current job.

If you have the extra time and energy, you can do other jobs to earn extra cash to pay back your debts. However, do take note of your health and make sure you have enough sleep everyday. If you want to earn more money, can always look for me. I will recommend you to start an online business using Wealthy Affiliate platform.



The best is not to have any debt at all. At the very most is only your monthly neccessities bills like electricity, internet, hand phone and water bills that you have to pay for. Before you need to borrow money or take personal loan from bank, think about how you going to pay back on time by doing some math and ensure that you got the money to return. If you are using loans to do business, you got to make sure your business plan is measurable and achievable to earn back the money to pay back.  The key point is to be responsible for your own financial management.


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2 Replies to “Owe Money Pay Money”

  1. Hello Peter,
    Thanks for sharing some basic points about money.
    We all need to respect money and just as important is the respect for anyone who honors us by lending money in our times of need.
    Your points are on tap – reduce borrowing, eliminate personal debt, and stop living above our means!
    Thanks for the gentle reminder.

    1. Hi Michelle, you are welcome! We just need to have some self-discipline and self-control on our personal finance. The main thing is to remove the bad habit of borrowing or taking loan unnecessarily and use own effort to earn more money instead.

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