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Monkey Brain Doesn’t Want to Pay Loans Back

Lauryn Hill introducing Chris Rock

Where’s my loan?

“You loan your friend money. You see them again, they don’t say nothin’ ’bout the money. ‘Hi, how ya doin’? How’s ya mama doing?’ Man, how’s my money doin’?”
–Chris Rock

When I ran a software development company, we had quite a rapid spurt of growth. We had to take on a lot of new people in a short amount of time, and in order to pay our vendors, I took out a business line of credit from Bank of America (let’s not kid ourselves…while the name was a “business line of credit,” it was a personal line of credit). Naturally, as the Fates would have it, just as we thought that we were on our way to becoming the Next Big Thing, our customer lost their contract with the government, and poof! We were almost back to where we started, and, to add to our pleasure, we still had this line of credit hanging over our heads.

Even though I never gave it any really serious consideration, since we still had enough in receivables to service it, I did think about what it would mean to just default on the loan.

Boy, talk about creating a storm in my head. Monkey Brain was all for this one.


ME: “Well, I agree about the bank being stupid, but…”

Fortunately, the worst case scenario never came to fruition, but it was certainly something that Monkey Brain liked to dwell on when he would keep me up late at night during the rocky times in our company’s history.

Similarly, I appeared to tap into a deep-seated “ugh” feeling with many readers when I wrote an article for ReadyForZero about loaning money to friends and family. Several of the commenters expressed regret or remorse about doing it, even if they wound up getting paid back. I understand. Heck, even as a kid, if I had to borrow a dollar from a friend, I felt guilty about it, and I usually felt resentful about loaning a friend a dollar when it wasn’t paid back.

The story that most interested me, though, was the one that Twitter user “Sapphire” told me. Sapphire loaned money to a family member and ensured that all the Is were dotted and Ts were crossed by having a promissory note. Sapphire said that the relationship was pretty weak with this family member and that there was pressure from the family to make the loan. I’m confident that Sapphire had many burbling in the stomach moments from the time the loan started until it was paid off.

Does Monkey Brain treat loans from friends and family differently than he treats loans from big, impersonal banks?

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Jason Hull is a Fort Worth fee only, hourly financial planner who serves clients in Fort Worth, TX and Dallas, TX as well as serving clients nationwide.

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Hull Financial Planning is a Fort Worth, fee-only hourly financial advisor. The cities we serve in the Dallas-Fort Worth area include: 

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