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Actually I had to teach my 4 year old the hard truth about te saying 'never a lender or borrower be'
He asked for £2 to buy the CBeebies magazine last month at the local shop. Sure I said but i expect 50% interest per day until the debt was cleared. To you mind signing this agreement here son and i put the 1264622 APR value on it.
Well the next day he failed to pay back and I had to add interest. I also left him a note under his pillow which of course cost me an extra £50 which I had to add to his bill.
The next day he paid back 5p which I am afraid to say resulted in another charge. It's been a month now and he presently owes me £64833.29. Ive taken all of his toys, bedding etc and made him sell it buts he's still short. Now I'm not to sure wether to send in Ronnie and Reggie the ten year old twins from next door to have a word or whether he should be forced to sell his sister to a rich Arab.
Suggestions please?
My first "business" was as a loan shark at school. I'd take my pocket money into school and rely on someone not bringing their lunch money in (had to pay 75cents each day).
Loan them $1, and get $2 the next day. Failure to pay led to it doubling daily.
If anyone attempted to not pay, I refused to lend to anyone else in that class - so their classmates turned on them until they paid their debts.
Ah, that brings back fond memories.