节目资讯
刊物:空中英語教室
日期:2012-02-11
难易度:High
关键字:alternatively, repayment, cosigner, liability, mortgage, credit rating
(Music).
Hello, everybody.
Welcome to Studio Classroom Worldwide.
Thanks for joining us today.
You know, Ryan, I'm really glad that we're still friends after yesterday's
discussion about money.
Oh, me too, Steve.
You know, money sure can be hard on relationships.
That's very true.
In fact, fighting over money is ranked as the number one cause of conflict in
dating relationships and in marriages.
That's true, but it doesn't only have an adverse effect on romantic
relationships.
In fact, I once heard that a quick way to lose a friend is to lend them money.
But an equally fast way to lose them is to refuse to lend them money.
Hmm. Wow! So, many friendships can be brought to a screeching halt.
Hey, speaking of which, whatever happened with your business?
Oh... Well, it's not doing very well.
We might go out of business.
Oh... Well, didn't your friend give you a lot of money to help you start it?
Yeah. We're not going to be friends anymore if I can't pay him back.
I sure could use some tips on how to handle the situation.
Well, you're in luck, Ryan.
Friends, why don't you join us at the top of page 25 as we try to help Ryan out.
(Music).
Friends, Family and Money.
The Situation:
An old friend has found a wonderful business opportunity and is looking for a
large loan.
The Solution:
Explain that you aren't comfortable lending money to anyone.
Alternatively, offer to lend a smaller amount.
If you decide to make the loan, create a written agreement to make expectations
clear.
You may even set terms that are favorable to you - like charging interest and
establishing a repayment schedule.
Just make sure you never lend more money than you are willing to lose.
The Situation:
You are asked to be a cosigner on a loan, credit card application or mortgage.
Well, friends, we're back in our BUSINESS article looking at Friends, Family and
Money.
That's right.
We talked yesterday about owning a business.
Possibly you have an extremely successful business, but your friends would like
a discount.
Well, you should set up a policy and have a plan before they come looking and
decide whether they get a discount now or get priority.
But Ryan, that is only one situation dealing with money.
We have another one to look at right now.
That's right. This next situation goes like this:
An old friend has found a wonderful business opportunity and is looking for a
large loan.
So, a friend who is looking to start a business or maybe they have joined a
business, they would like to borrow money.
That's what a loan is - it's when you borrow money from somebody else.
And your friend would like to borrow money from you.
Right. Now Kaylah, this sounds like the situation that I had been in trying to
start my own business looking for some money from a friend.
That's right. You are looking for a loan.
I'm sorry, Ryan, I will not be loaning you money.
That's OK.
Well, now let's take a look at the solution if someone comes to you looking for
money.
OK. The Solution:
Explain that you aren't comfortable lending money to anyone.
Ryan, I can't lend you money because I'm not comfortable lending money to
anyone.
OK. Well, that sounds fair after all it is in the article.
But Kaylah, that's not the only thing you have to say.
Alternatively, you can offer to lend a smaller amount of money.
And "alternatively" is a big, fancy way of saying another option or a different
possibility.
You could choose to lend them a smaller amount of money instead of just saying
"No money at all." So that... that could be another option.
But I'm going to stick with: I don't like lending money to people.
Yeah. That's... that's not a bad idea.
Just give them less money and you have less to worry about.
That way if you decide to make the loan, create a written agreement to make
expectations clear.
Now Kaylah, what is a written agreement?
Well, a written agreement is exactly what it sounds like - it is written down.
It's not just talked about.
You agree on what these terms are.
Are they... when do they have to repay you by?
What kind of agreement are you setting up?
How much money are you lending them?
So if you set up a written agreement, it's on paper.
Then you don't have to worry about legal problems with, oh, maybe what he said
versus what I said.
If it's set up ahead of time on paper, it's not going anywhere.
Yeah. Both people understand and they both have clear expectations; they know
what to expect.
That's right.
You may even set terms that are favorable to you - like charging interest or
establishing a repayment plan.
That's right. So that's in your favor.
If you are getting interest, that is extra money that they will pay you back for
borrowing the money.
And you can also set up a repayment schedule.
What is repayment?
"Repayment" is... well, let's break that word apart.
If we see the word "pay," a payment is the money that you are giving to
somebody.
And a repayment is when you pay them back for money they have given you.
So if you take out a loan, you have to have repayments to return the money to
the person.
Yeah. So this is a very good idea to have a schedule to know when to pay people
back.
OK. So just make sure you never lend more money than you're willing to lose.
That is a very, very good tip, Ryan.
If you are going to lend money to somebody, you need to make sure that it's an
amount that if they can't pay you back, that that is OK,
that you want them to pay you back and that would be best.
But in an emergency, it would be OK if you end up losing that money.
Right. Now Kaylah, this is a great idea to have a schedule, know when you're
going to repay people.
It's good not only for you - the person who is giving the money to someone else
- but also for the person who will need to give you a repayment.
That's right. It helps you set up so you know what to expect and they know when
the money is due back to them.
Well, we have another situation here, Ryan.
OK. This next situation goes like this:
You are asked to be a cosigner on a loan.
OK, let's stop right there.
First of all, what is a cosigner?
OK. Let's break the word up again.
We see the word "sign." And that's when we write our name.
So if you're a "signer," you are the person writing your name.
And a "cosigner" is when you sign a document, a legal document with someone else
that is trying to take a loan out.
They're trying to get money.
And then it helps them and you are part legally responsible for it.
Right. So yeah, it's a second person to sign a contract with someone else.
And that person can help someone sign a contract for a loan or credit card
application or a mortgage.
What is a mortgage?
A "mortgage" is the amount of money or the agreement that you have when you
borrow money to buy either a house or an apartment.
Exactly. So you would might... you might want some help signing these contracts.
Well, right now, let's watch the skit.
My business is doing extremely well.
Look! I'm making money.
And money makes the world go round. Ha-ha!
Well, hello, hello.
Oh, no. Here comes my old friend Bob.
Hey, hey. It's your favorite friend Bob.
Oh. Hi, Bob. Long time no see.
Hey! I heard about your financial success.
Congratulations!
Thank you.
Actually, I'm about to have financial success too.
Oh, really!
Oh, yes. I've found a wonderful business opportunity.
Oh. And you're looking for a loan.
Oh, yes, a small loan.
I need uh, $20,000.
Sorry, Bob. I'm not comfortable lending large amounts of money.
Oh, please! I really need the cash.
OK, OK, stop crying.
Alternatively, I can lend you uh, $20.
$20?
Yes. But you'll have to pay interest and establish a repayment schedule.
$20? OK.
Thank you.
You are a wonderful dear friend for life.
Ah, yes, I'm sure.
Oh... and one more thing.
Now what?
I need a cosigner on my credit card application.
Can you help me?
A cosigner?
Yes. There are many reasons to be a cosigner.
Yes, but there are many risks too.
Not for me.
Just sign right here, please.
Please.
Hmm.
All right. Great!
Thank you.
You are my wonderful dear friend forlife.