I have a regular in geylang whom I used to visit regularly. Lets call her Desiree. Since the crisis hit, I have not met Desiree for the past 2 years.
As you may know, the economy is very badly hit, especially the service sector. Desiree is struggling with her finances as well. She recently approached me to ask if I could loan her some money, which she would repay at 10% interest by the end of this year.
As it so happens, my joint account with my GF has an additional $600 x 2 = $1.2K from the government resilience budget which is currently just sitting there doing nothing.
Should I loan Desiree the $1.2K? 10% return is very good given the current economic climate. Also, risk is minimal: Desiree definitely has the earning power to repay the money, and I know the address where she lives and works so debt collection is not an issue.
Here are what netizens think:
- We are not your gf. You should be asking her since it’s a joint acct with her.
- If she has more than x number of regulars and for every regular she say the same thing, after with all the collection from these x number of regulars…
- She can go back to her own country and count her money and laugh at the stupidness of these people who believe her words…
- Yes, its a very good investment, you should probably loan her 12k