Hello beautiful people. Individual wants are almost never-ending, and the only challenge is they will not go away, we must find a means of meeting them at one point or the other.
In most cases, the means to meet the problem doesn’t come at the time we need it the most, we will have to reach out to friends or family or even strangers to stay afloat or to assist us in other to meet up with the required wants and within mind, many of us have become acute defaulters in refunding back what was lent to us.
That trait of defaulting on promises has destroyed and dismantled the integrity and reputation that we have spent years building and many friends would prefer to avoid us in times when we need their assistance because we cannot keep to our word and because we have become a representative of bad debt.
No one intentionally becomes a representative of bad debt but it is the situation we find ourselves, even when we wish not to make promises and fail, we end up doing exactly that as we do not have an understanding of exactly what is happening to the money that comes into our hands, our wants suffocate and eradicates our needs that by the time we figure out exactly what we need, we have spent the money on wants that would have no bearing on our current situation of things.
This leaves us impoverished and needy.
It is important to note that a good financial reputation is proper collateral in the world at large and most especially in the corporate world where money is more than just a currency or piece of paper.
A good reputation can grant unusual access and priority to anyone who owns and wears it like a cloth, it can become the guarantee for large credit facilities for business and even as far as creating opportunities for others down the line.
So many people are waiting for a handout, a loan, a grant, or any other source of capital to boost current business or finance to elevate an idea but we do not have the requisite financial reputation to grant us that access and priority.
When your financial reputation speaks for you, you will do things that people with money cannot do and you will be able to even buy things just by the mention of your name.
Let’s look at a few important reasons to have a good financial reputation.
- A good financial reputation grants you access to cash you cannot muster individually from saving or budgeting.
- A good financial reputation grants you swift responses to financial queries and in most cases, you do not have to pay upfront because of the integrity your name has.
- A good financial reputation is good for business, as a businessman, you may not always have access to required cash or capital, but your reputation will make you get whatever you need without having collateral in most cases
How do you build a good financial reputation?
- You must ensure that when you borrow money, irrespective of the amount and who the lender is, you must always pay back on or before the deadline.
- You must ensure you give the borrower peace of mind; you pick up their calls, you respond to their messages, and you are living within your means.
- If peradventure you cannot meet the deadline due to unforeseen circumstances or a situation beyond your control, seek the indulgence of the borrower early enough and promise a new date or plead for an extension.
- Never go missing or become unreachable when you have the money of other people in your possession. Your availability is your credibility.
- Do all you can do to complete your money cycle or regenerate the money within the time frame you promised to pay back, this will alleviate the pressure of a deadline.
- Return the money with gratitude. This is key because when you were in need and you reached out, you were humble and grateful for the help you will receive or that you received, when it is the other way around, remain humble and grateful.
- Do not allow money ruin a good relationship or friendship, if you realize the money may become a separator, do all you can in your power to stop yourself from borrowing.
You can also read books on financial intelligence and management, you can find people who are financially literate and speak with them to share or gather knowledge, these are the secrets of the rich.
Build a good financial reputation today and make maximum impact.
