Alex lost his home after he failed to pay back the money borrowed for his birthday.
Alex had always wanted to celebrate his 30th birthday in style. He planned a weekend getaway with friends, a fancy dinner, and a night out at a trendy club.
To fund his extravagant plans, he borrowed $10,000 from a lender, promising to pay it back within a few months.
Unfortunately for him, life had other plans. Alex’s car broke down, and he needed to spend $2,000 on repairs. Then, his rent increased, and he had to pay more for his apartment. Before he knew it, the loan’s due date had passed, and he couldn’t afford to pay it back.
The lender sent him reminders, then warnings, and eventually, took him to court. Alex tried to negotiate, but it was too late. The court ordered him to pay the loan plus interest, which had ballooned to $15,000.
With no way to pay, Alex faced foreclosure on his home. He had to move out, and his credit score was ruined. He realized too late that his birthday celebration had come at a steep price.
I’ve come across many parents who would do anything just to celebrate their children’s birthday. Whether the devil likes it or not, they must have their children’s birthday celebrated.
At some point, I begin to wonder, do these parents actually know the seed they are planting in the lives of their children? This habit, if the children grow with it, they’ll definitely won’t depart from it.
When a child feels that it is his right for his birthday to be celebrated and the parents on the other hand should wait and see the future repercussions if they fail to handle it earlier.
Just like Alex in the story, your child can sell your house or any important property he has just to celebrate his birthday.
It is therefore important that parents begin now to limit the way they celebrate their children’s birthday.
I am not against the celebration of birthdays but what I am against is parents making their children feel that it is very necessary to celebrate their birthdays in big ways.
Hope many learn from Alex’s unpaid birthday loan story.