Consider Setting the Debt Payment Plan on Autopay
This tip may only work for those who have steady cash flows. Sporadic ones just won’t work in terms of automatic payments, especially if the borrower’s account balance often goes into overdraft. But if this is not the case then you should definitely try this out.
There are many reasons this is important but for most people, it’s the social aspect that gets dealt with the easiest. You won’t have to ask them about their next payment, nor do you have to remind them ahead of time and they won’t feel like every conversation you two have turns to money.
It’ll be a seamless transaction and both of you can go about your day without having to navigate family gatherings and conversations in order to find a good time to talk about the loan. As long as payments aren’t late you can pretend the loan never even happened. It’s a win-win.
This will also give you some peace of mind. For example, if you see your family member’s social media feed where they’re eating out or showing off a new purchase you might end up feeling irritated and taken for granted.
With automatic payments, you can actually enjoy their posts without all those pesky questions running through your head. What does it matter what they spend their money on when the money’s being returned at the end of the day?
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