Rule 78. Never Lend Money Unless You Are Prepared to Write It Off

The full title of this Rule should actually be: Never lend money—to your friend or children, or your siblings, or even parents—unless you are prepared to write off either the money or the relationship.

There is a lovely story told, I think, about Oscar Wilde (correct me if I’ve got the wrong person) who borrowed a book from a friend and forgot to return it. His friend turned up and demanded the book back, by which time young Oscar had lost it. His friend asked Oscar if he wasn’t jeopardizing the friendship by not returning the book. Oscar Wilde merely replied, “Yes. But aren’t you also doing the same thing by demanding it back?”