Manage Programs That Promote Personal Effectiveness Essay

1. Three normal Health Issues that Can Affect Productivity In The Work Place Are: Psychological well-being Issues for instance: Depression, Anxiety, stress and Behavioral Conditions. Constant Illnesses for instance: Diabetes, asthma, Cancer, coronary illness and stroke. Way of life hazard Factors, for example, medication and liquor misuse, betting, Obesity and smoking this incorporates recycled smoke. 2. Utilize the web to explore each Identified issue for the accompanying: Predominance of the issue and any gauges. Emotional wellness is on the ascent all through the work place, And not at all like numerous physical ailment it impacts on individuals during their prime working years untreated psychological wellness issues are costing Australian associations $642,000 per 1000 representatives. Constant Illness is expanding in a worldwide commonness and in 23 high weight created nations the expense related with this worldwide pervasiveness will cost the economy 84 billion dollars by 2015 if nothing is done to slow this up ward pattern. Way of life Risk Factors have expanded significantly not just has Obesity expanded Across all age bunches the working age bunches has a consistent upward development. Somewhere in the range of 1995 and 2012 the normal BMI for people more than 18 have expanded by 9.6% And just 5.5% of Australian grown-ups had a sufficient common day by day admission of products of the soil there has been a decline in smoking as per the national wellbeing Survey â€Å"In 2011 12, men were bound to smoke every day than ladies (18.3% Compared with 14.1%). These rates have diminished since 2001, when 25.4% of men And 19.5% of ladies smoked daily†. Standard ways to deal with address the Issue in the work place. Being proactive in adequately bringing issues to light and tending to Mental Heath in the work place so early mediation can occur is significant for staff good and certainty. Some standard methodologies for tending to and managing emotional well-being would be: Educating and giving directors and employee’s the instruments and abilities expected to together distinguish triggers and arrangements. For a bigger scope and relying upon the general wellbeing and faculty needs of the workers and financing from the association or government an EAP could be planned and arranged. Standard ways to deal with tending to incessant ailment in the work place are: Initiating an in worker help program to give the representatives the training and bolster they need this could be anything from a fundamental to an extensive program contingent upon all the variable components to consider. Standard Approaches to Lifestyle hazard factors incorporate arrangement changes, for example, smoke Free situations to additionally diminish the smoking rate or in any event, advancing quit line Services for smoking related issues. Give wellbeing choices and Incentives to utilizing And keeping up more beneficial decisions inside the working environment to manage diet related Lifestyle dangers. Two of the Identified methodologies quickly itemized on how the methodology is overseen in The work spot and which approach I like. Psychological well-being Actualizing compressive methodology or national work environment program (Employee help program) alongside planning a prosperity strategy and counteraction strategy will expand information and comprehension on the most proficient method to bargain and forestall emotional wellness in the work spot and address business related hazard. Along these lines expanding mindfulness, diminishing disgrace and improving perspectives thusly giving staff representatives the instruments to make a solid workâ environment where nobody has fears of revolting against having an emotional wellness issue this can give work protections and consolations they have the help of the association. Full responsibility from all partners including all administration mental heath specialists and the picked worker delegate is fundamental to the achievement and result of program. Ways of life Risks Factors Presenting a progressed or thorough program to teach and give staff/Employee’s chances to be instructed on Nutrition, Physical action, Smoking and stress the executives and experience to rehearse the aptitudes expected to manage and forestall Lifestyle Risk related issues. Give wellbeing alternatives and Incentives To utilizing and keeping up more advantageous decisions inside the work environment to manage diet Related Lifestyle dangers. Additionally elevating administrations identified with way of life chance factors, for example, Quit line, Heart Foundation, Cancer Council, Substance misuse consolers and GP’s for General check ups. Approach I Prefer The advantages for tending to way of life chances out of sight the expense and time as Implementing this as a safeguard measure would support getting, confidence and Trust inside the association in this manner boosting Productivity the association would Save Money on a drawn out premise because of the reality That numerous interminable ailment and some psychological wellness issues Stem from related Lifestyle Risk factors. So I think tending to way of life chance Factors you are subsequently Addressing a general wide dominant part of issues. Handling way of life chance factors before They become Chronic ailment is basic and ought to be focused on as Prevention Is superior to Cure. So I would present a progressed or far reaching system to Change the conduct. 3. Summary Report Psychological well-being Issues for instance: Depression, Anxiety, stress and Behavioral Conditions. Ceaseless Illnesses for instance: Diabetes, asthma, Cancer, coronary illness and stroke. Way of life chance Factors, for example, medication and liquor misuse, betting, Obesity and smoking this incorporates recycled smoke. â€Å"Healthy Employees Make A Healthy Business† Psychological wellness Issues, incessant ailments and way of life chance variables are all on the ascent it is critical to such an extent that they be tended to on the grounds that the drawn out effect of unaddressed issues inside any association can be annihilating for both business and representatives. Not exclusively did a recent report run by Medibank Private put the yearly expense of truancy and presenteeism to Australia at $25.7 billion. Wellbeing and prosperity are by a long shot the superseding factors. By improving wellbeing guidelines in the work place you will discover more beneficial representatives are multiple times increasingly gainful. All the above medical problems profoundly affect Daily profitability non-attendance and presenteeism tending to these issues viably won't just advantage this association and employee’s yet improve generally speaking mental and physical prosperity improving efficiency, worker connections, diminished truancy and debilitated leave and expanded wellbeing mindfulness and information. â€Å"Global research has discovered that when representative wellbeing and health is overseen well the level of connected workers increments from 7% to 55%. This exploration additionally got self-detailed imagination and development increments from 20% to 72%.† Giving the vital apparatuses and aptitudes for staff and employee’s to preform at there best I would recommend embracing an EAP to move toward way of life hazard issues, a portion of the strategies perhaps government helped workshops. so with the endorsement of senior administration I would adore input and endorsement to compose a progressed or extensive EAP for Lifestyle Risk Factors since I accept that in tending to way of life chances out of sight the cost, time and assets and With cost according to misfortunes from non-appearance and presenteeism anâ investment for a bigger scope like a progressed or far reaching EPA would be progressively helpful in this circumstance. Actualizing this as a protection measure would support getting, resolve and Trust inside the association in this way boosting Productivity. The association would Save Money on a drawn out premise because of the reality the work spot will be a solid more secure spot with diminished non-appearance and presenteeism and expanded efficiency. â€Å"a transport can't be cruised without a crew† so keeping your staff/employee’s cheerful and sound will have a positive effect on totally included and improve the associations corporate picture. With cost corresponding to misfortunes from truancy and presenteeism a venture for a bigger scope like a progressed or extensive EPA would be progressively helpful in this circumstance. Likewise in tending to way of life chance you are thus tending to numerous constant sicknesses and Some emotional wellness issues as most Stem from related Lifestyle Risk factors. So I Believe tending to way of life chance Factors you are along these lines tending to a general wide Majority of issues. Handling way of life hazard factors before They become Chronic disease it Is basic and ought to be focused on as Prevention Is superior to Cure. References http://www.cgdev.org/doc/expert%20pages/nugent/Nugent_Annals_article.pdf https://www.bspg.com.au/dam/bsg/product?client=BEYONDBLUE&prodid=BL/0538&type=file http://www.abs.gov.au/websitedbs/D3310114.nsf/home/home?opendocument http://www.heartfoundation.org.au/dynamic living/Documents/Healthy-work environment guide.pdf

Finance For Business Investment Or Initial Outflow Free Sample

Question: Characterize about the Finance for Business for Investment or Initial Outflow. Answer: Section A Pay Back Period Recompense period is utilized to investigate that how much time is required to recoup the underlying expense of venture or starting outpouring. On the off chance that recompense period is shorter, the undertaking is increasingly alluring (Chandra, 2015). Regardless of whether in limited recompense period, the idea of time estimation of cash is relevant. Pay Back period = Initial Investment/Cash stream of per period On the off chance that income of consistently is same, at that point above recipe will apply. For instance, resource buy costing $100000 and income consistently is $25000, at that point take care of period will be 4 years ($100000/$25000). Furthermore, on the off chance that income is distinctive in consistently, at that point limited restitution period determined. In the given venture required pace of return is 12% and income is distinctive consistently, so limited recompense period will be determined. Count of devaluation: Deterioration = (cost - rescue esteem)/life of advantage = (34500000 - 5500000)/5 = 5800000 Uses for including new highlights and uses for advertise study both considered as starting money outpouring. Restitution time of the undertaking is 2.79 years implies cost of advantages can be recuperated in 2.79 years. It is useful for the Emu hardware to interest in assembling types of gear. Gainfulness Index (PI) Gainfulness list used to recognize the relations among cost and advantages by determined proportion. It is utilized for positioning undertakings. While figuring benefit record, time estimation of cash is likewise material. It is an instrument of account to taking choice, regardless of whether the undertaking will be acknowledged or not (Damodaran, 2010). The undertaking will be acknowledged whether gainfulness record will mutiple (1) and the task will be dismissed if benefit file falls beneath (1). What's more, on the off chance that, gainfulness list is equivalent to 1 (=1), at that point it will be circumstance of unconcerned methods anticipated will be acknowledged or dismissed. Productivity Index = Present Value of Inflow/Present Value of Outflow = 52205510.12/35,450,000 = 1.47 According to above computation productivity file is mutiple, so the task is worthy. Emu gadgets ought to have acknowledged the undertaking. Inside Rate of Return (IRR) It is the pace of return which is utilized to compute productivity of venture. IRR is the pace of intrigue. The net present worth ought to be equivalents to zero of all incomes at inside pace of return (Gallagher Andrew, 2007). Count of Internal Rate of Return by Trial Error technique: IRR = 30 + (35570884.83 - $35,450,000)/(35570884.83 - 34908659.88) = 30.18254345 Inward Rate of Return of the venture is 30.18% on which net present worth will be zero. Net Present Value (NPV) It alludes to uniqueness between present estimation of money inflows and present estimation of money outpourings. The measures of acknowledgment the task is net present worth (NPV) will be sure and the models of dismissal of venture is net present worth (NPV) will be negative. Also, if, net present worth (NPV) is zero, it will be state of lack of concern. Recipe: Net Present Value = Present Value of money Inflows Present Value of money Outflows Figuring of Net Present Value: While figuring present estimation of inflows, present estimation of leftover worth/rescue (for example 5500000) additionally included (Needles, Powers Crosson, 2010). Here, net present estimation of undertaking is $16,755,510 which is certain in this way, task will be acknowledged. Affectability of NPV to changes in the cost of the new advanced cell Changes in income straightforwardly effects on NPV and income changes if there is variety in cost of item. Net present worth changes with change in the cost of the item. On the off chance that cost of the advanced cells will be builds, at that point net present worth will increments and stays positive. Furthermore, on the off chance that, cost of the advanced mobile phones will be diminishes then net present worth will diminishes or falls negative. In this way, it very well may be said that net present worth is exceptionally touchy with changes in the cost of the new advanced cell (Moyer, McGuigan Rao, 2014). Affectability of NPV to changes in the amount sold On the off chance that selling amount of any item transforms, it legitimately effects on net present worth. On the off chance that selling amount of PDAs will be expands, net present worth will increments. What's more, if, selling amount of advanced mobile phones will be diminishes, net present worth reductions. So it very well may be said that affectability of net present worth (NPV) is relies upon change in number of units sold or amount sold. Net present worth is increasingly delicate with changes in the amount sold (Gill, 2015). Emu Electronics should create the new advanced mobile phone Emu Electronics ought to need to deliver the new PDA since it is productive according to computations made under net present worth, compensation period and gainfulness list. The recompense time of Emu Electronics is 2.79 years. In the event that Emu Electronics put resources into assembling types of gear of new PDA, at that point they can recoup their speculation cost in the time of 2.79 years. Productivity list of Emu Electronics is 1.47 which is mutiple, so new task is appropriate for them. Net present estimation of Emu Electronics is certain, so new venture is adequate. On the off chance that Emu Electronics loses deals on different models in light of the presentation of the new model On the off chance that Emu Electronics present new model of advanced mobile phone, it will be conveyed more particulars. So clients will want to get it. Thus, naturally deals of different models will be diminished. It impacts the benefit and net present estimation of organization. According to advertise general situation, on the off chance that any new item propelled in showcase, at that point it will be effective or not relies upon its determinations or clients need. In the event that such item is increasingly helpful or have uncommon qualities, at that point clients will want to get it since they got more fulfillment. In the event that there is no determinations in new item, at that point clients won't get it. Presentation of new item consistently impacts to the offer of different items. Same with Emu Electronics, they got loss of deals on different models on account of presentation of the new model. It happens in light of the fact that clients redirect to buy new model and deals diminishes of different models. Because of progress in deal, income of organization changes and it impacts straightforwardly to net present worth, productivity record and recompense period. So it influences on complete investigation of organization. Part B Cost of capital for Hubbard PC ltd 1) From the ASX site yearly report of Harvey Norman of 2015 downloaded. The yearly report of any organization shows the total expense of that organization. According to accounting report or proclamation of money related situation as at 30 June 2015, on page number 59 book estimation of obligation and book estimation of value found. Book estimation of obligation included notes payable, current bit of long haul obligation and long haul obligation. According to yearly report of Harvey Norman, the book estimation of obligation is $698,438,000 as at 30 June 2015 may be: Current segment of Interest bearing advances and borrowings $408,438,000 Non-current segment of Interest bearing advances and borrowings $290,000,000 Book Value of Debt $698,438,000 Book estimation of value incorporates share capital or contributed value, saves excess and held benefits. According to yearly report of Harvey Norman, the book estimation of value is $2,556,860 as at 30 June 2015 seems to be: Contributed value $380,328 Stores $113,290 Held benefits $ 2,043,463 Non-controlling interest $19,779 Book Value of Equity $2,556,860 (Source: Annual report of Harvey Norman, 2015) According to title Interest Rate Risk Management in yearly report of Harvey Norman at page number 120, breakdown of Harvey Normans long haul obligation is as per the following: (Source: Annual report of Harvey Norman, 2015) Normal loan cost (gliding) of long haul obligation is 0.47% to 5.93% given in yearly report of Harvey Norman. There is no other classification of obligations according to gathering of years. 2) Latest stock cost recorded for Harvey Norman 5.18 Market estimation of value, or market capitalization 5.76B Exceptional portions of Harvey Norman 2,066,523 Latest yearly profit (pay date 01 Dec 2015) 11 penny According to yearly report profit per share 20.0 penny According to yearly report uncommon profit per share 14.0 penny Profit markdown model can use for this situation as all important data are accessible. Beta for Harvey Norman 0.70 Note: All the sums given above are in Australian Dollar (AUD). (Source: aufinance.yahoo.com, 2016) Yield on government obligation is 1.86% according to Bonds interface at aufinance.yahoo.com. Cost of value for Harvey Norman by Capital Asset Pricing Model (CAPM): Cost of value = Risk free pace of return + Premium expected for hazard Cost of value = Risk free pace of return + Beta * (advertise pace of return chance free pace of return) = 1.86% + 0.70 * (3% - 1.86%) = 0.02658 = 2.658% Here, government securities yield esteem taken as hazard free pace of return. Cost of value is loan cost of value capital (Pratt Grabowski, 2010). Under capital resource valuing model, hazard factor of capital contributed is thought of. Hazard free pace of return is a pace of government securities, which are liberated from showcase chance. Estimation of beta is taken from Harvey Normans site. What's more, advertise pace of return is determined, it is appeared in reference section. 3) Business advance rate is 5.34% p.a. according to gave site of Westpac. Weighted normal expense of obligation for Harvey Norman By book esteem loads: Weighted normal expense of obligation = aggregate of weighted rate/aggregate of weight = 3.738/1 = 3.738% Here one kind of obligation (for example enthusiasm bearing advances and borrowings) accessible according to yearly report of Harvey Norman. Cost of obligation is 3.73% for both, current and non-current enthusiasm bearing credits and borrowings. So there is no divergence between cost of obligation and weighted normal expense of obligation. It tends to be comprehend by above estimation of weighted normal expense of capital. Weighted normal expense of obligation can't be dictated by showcase esteem premise since advances an

How to Ask Your Friends and Family For Money

How to Ask Your Friends and Family For Money How to Ask Friends and Family For Money  Asking your friends and family for money can be a dangerous proposition. Here are some best practices to make sure that it wont end in tears and anger.Unless you live in a post-capitalist society, you’re probably going to run into a financial emergency at some point. Hopefully, you have an emergency fund already prepared for something like this, but if not, you may need to borrow money to get through it.This is especially true if the financial emergency affects your car or your body or anything else that’s vital to your day-to-day life. If your credit is in a good place, you can take out a loan with a relatively low interest rate. If your credit is in a bad place, then your options are more limited.You might be tempted  to take out  a payday loan, but we would strongly caution against it. The payment terms are incredibly short, and if you don’t pay back the whole loan plus interest and fees in time, you’ll have to pay to extend the loa n. This is a quick path to a cycle of debt that can make everything worse.Getting an installment loan can be a better option, as you can work out a much more reasonable schedule. You’ll still need to be careful, however. Make sure that the lender wants some kind of proof of income and make sure the payments are amortizing, meaning that each payment covers some of the original principal as well as the interest. Otherwise, you could get scammed.Ideally, the lender should have an easy-to-access customer service line, so you can work something out if you’re ever worried you can’t make a payment. And of course, if your credit is shot, you’ll have to settle for a bad credit loan or a no credit check loan with less than ideal interest rates.But there’s one way to take out a loan with zero-to-reasonable interest rates, even if you have terrible credit. It’s called the First Bank of Friends and Family. It can be incredibly uncomfortable asking loved ones for help, but it’s an o ption worth considering.To borrow, or not to borrowBefore we get into how you should ask friends or family for help, it’s worth figuring out where that option should rank in your consideration.There are certainly obvious advantages to borrowing money from friends or family. Depending on how well you get along, you may not need to pay any interest at all. And if you’re relationship is on good terms, they should be more accommodating than a bank or other lender would be. And though you might feel weird asking, if you get taken in by a scammy title loan or payday loan store, you’ll be in a worse financial position should your friend or family ever need help one day.But some believe that asking friends or family for money should be a last resort option. “First of all, you should avoid asking them at all costs,” financial expert Debbi King (@DebbiKing) told us. “No matter what plan you have in place, there will always be a tenseness in the relationship possibly even after the money is paid back.”But if you do decide to ask your family or friends for money, you’re going to want to follow some ground rules.Make sure you have a planAs King mentioned above, you don’t want there to be any more hurt feelings or tension than is necessary. That’s why she suggests you: “Develop a plan that is beneficial to both parties â€" one that will help you out without hurting the family member or friend. And then aggressively plan on paying back the money before anything else.”She even offered a personal example from her own family: “Many years ago, my mom borrowed money from her dad to buy her first car. She was supposed to pay him back a small amount each month until it was paid. She actually paid him off every week and paid him much more than agreed upon. To her, paying my grandfather back was the most important thing right behind housing.“What she did 50 years ago still works great today. If and only if you must borrow from a friend or family member, as k as little as possible, go in with a payment plan, and then make it a priority to pay back.”Get it in writingIt might be uncomfortable to write out a contract with a friend or family member, but there’s a reason so many financial transactions require them. Jeff Campbell (@middleclassdad1), of NewMiddleClassDad.com shared a personal experience of his own to emphasize the importance of written contracts:“I lent my father a very large sum of money 10 years ago after he filed bankruptcy and had nowhere else to turn and had to go through the process of realizing he would never pay me back and how that impacted our relationship. The key in entering  any business arrangement with family or friends is to be crystal clear and transparent about everything.Putting the agreement in writing really helps; that way there’s no gray area and no surprises. It’s even better if the person lending the money looks at it more as a gift than a loan. When you have no expectations of getting repai d then there’s no disappointment when the family member or friend falls short of their agreement.Ultimately I had to look at my own loan to my father as a gift. If I hadn’t, I would have forever been resentful of his failure to repay it and it would have tainted my final years with him. In the end, I’d rather have those years than those dollars. Inevitably business agreements and partnerships fail because one person has a different expectation than the other and instead of discussing, it one just expects the other to do what they would do in that situation.At the very least having a specific written agreement eliminates the possibility of confusion or misinterpretation.”More tips  for borrowing money from  family and friendsCarla Dearing, CEO of SUM180 (@mysum180), also advised getting the deal in writing, and offered some additional advice:“1. Protect the personal relationship by creating a clear and fair repayment plan up front. Put it in writing and stick to it. Whether a legal document is created or not, your personal relationship depends on the borrower taking this transaction seriously.“2. Insist on paying interest at a rate of at least what your friend or family member would earn if he or she put the money in a high yield savings account. The truth is, with bank rates as low as they are these days (1-2  percent), by asking for a loan and offering to pay 4-5 percent interest, you could be doing your family member a favor.“3. Create a schedule for tracking payments on the loan and share it with your friend or family member. Knowing when to expect your payments and when the loan will be repaid in full should ease any anxiety your personal lender may have. You show your gratitude for the favor of the loan by making repayment as transparent and stress-free for them as possible.”Looking for a good sample contract? Well, we’ve actually written one for you! Check it out below. Hopefully, you’ll never need it, but better to have it and not ne ed it than to need it and end up broke.Personal Loan Agreement How to Ask Friends and Family For Money  Asking your friends and family for money can be a dangerous proposition. Here are some best practices to make sure that it wont end in tears and anger.Unless you live in a post-capitalist society, you’re probably going to run into a financial emergency at some point. Hopefully, you have an emergency fund already prepared for something like this, but if not, you may need to borrow money to get through it.This is especially true if the financial emergency affects your car or your body or anything else that’s vital to your day-to-day life. If your credit is in a good place, you can take out a loan with a relatively low interest rate. If your credit is in a bad place, then your options are more limited.You might be tempted  to take out  a payday loan, but we would strongly caution against it. The payment terms are incredibly short, and if you don’t pay back the whole loan plus interest and fees in time, you’ll have to pay to extend the loa n. This is a quick path to a cycle of debt that can make everything worse.Getting an installment loan can be a better option, as you can work out a much more reasonable schedule. You’ll still need to be careful, however. Make sure that the lender wants some kind of proof of income and make sure the payments are amortizing, meaning that each payment covers some of the original principal as well as the interest. Otherwise, you could get scammed.Ideally, the lender should have an easy-to-access customer service line, so you can work something out if you’re ever worried you can’t make a payment. And of course, if your credit is shot, you’ll have to settle for a bad credit loan or a no credit check loan with less than ideal interest rates.But there’s one way to take out a loan with zero-to-reasonable interest rates, even if you have terrible credit. It’s called the First Bank of Friends and Family. It can be incredibly uncomfortable asking loved ones for help, but it’s an o ption worth considering.To borrow, or not to borrowBefore we get into how you should ask friends or family for help, it’s worth figuring out where that option should rank in your consideration.There are certainly obvious advantages to borrowing money from friends or family. Depending on how well you get along, you may not need to pay any interest at all. And if you’re relationship is on good terms, they should be more accommodating than a bank or other lender would be. And though you might feel weird asking, if you get taken in by a scammy title loan or payday loan store, you’ll be in a worse financial position should your friend or family ever need help one day.But some believe that asking friends or family for money should be a last resort option. “First of all, you should avoid asking them at all costs,” financial expert Debbi King (@DebbiKing) told us. “No matter what plan you have in place, there will always be a tenseness in the relationship possibly even after the money is paid back.”But if you do decide to ask your family or friends for money, you’re going to want to follow some ground rules.Make sure you have a planAs King mentioned above, you don’t want there to be any more hurt feelings or tension than is necessary. That’s why she suggests you: “Develop a plan that is beneficial to both parties â€" one that will help you out without hurting the family member or friend. And then aggressively plan on paying back the money before anything else.”She even offered a personal example from her own family: “Many years ago, my mom borrowed money from her dad to buy her first car. She was supposed to pay him back a small amount each month until it was paid. She actually paid him off every week and paid him much more than agreed upon. To her, paying my grandfather back was the most important thing right behind housing.“What she did 50 years ago still works great today. If and only if you must borrow from a friend or family member, as k as little as possible, go in with a payment plan, and then make it a priority to pay back.”Get it in writingIt might be uncomfortable to write out a contract with a friend or family member, but there’s a reason so many financial transactions require them. Jeff Campbell (@middleclassdad1), of NewMiddleClassDad.com shared a personal experience of his own to emphasize the importance of written contracts:“I lent my father a very large sum of money 10 years ago after he filed bankruptcy and had nowhere else to turn and had to go through the process of realizing he would never pay me back and how that impacted our relationship. The key in entering  any business arrangement with family or friends is to be crystal clear and transparent about everything.Putting the agreement in writing really helps; that way there’s no gray area and no surprises. It’s even better if the person lending the money looks at it more as a gift than a loan. When you have no expectations of getting repai d then there’s no disappointment when the family member or friend falls short of their agreement.Ultimately I had to look at my own loan to my father as a gift. If I hadn’t, I would have forever been resentful of his failure to repay it and it would have tainted my final years with him. In the end, I’d rather have those years than those dollars. Inevitably business agreements and partnerships fail because one person has a different expectation than the other and instead of discussing, it one just expects the other to do what they would do in that situation.At the very least having a specific written agreement eliminates the possibility of confusion or misinterpretation.”More tips  for borrowing money from  family and friendsCarla Dearing, CEO of SUM180 (@mysum180), also advised getting the deal in writing, and offered some additional advice:“1. Protect the personal relationship by creating a clear and fair repayment plan up front. Put it in writing and stick to it. Whether a legal document is created or not, your personal relationship depends on the borrower taking this transaction seriously.“2. Insist on paying interest at a rate of at least what your friend or family member would earn if he or she put the money in a high yield savings account. The truth is, with bank rates as low as they are these days (1-2  percent), by asking for a loan and offering to pay 4-5 percent interest, you could be doing your family member a favor.“3. Create a schedule for tracking payments on the loan and share it with your friend or family member. Knowing when to expect your payments and when the loan will be repaid in full should ease any anxiety your personal lender may have. You show your gratitude for the favor of the loan by making repayment as transparent and stress-free for them as possible.”Looking for a good sample contract? Well, we’ve actually written one for you! Check it out below. Hopefully, you’ll never need it, but better to have it and not ne ed it than to need it and end up broke.Personal Loan AgreementDate of Loan:Full Repayment Date:Amount Borrowed:Terms of Contract:I, _______________, borrowed $__________on ______________, from __________________.Print borrower name Loan amount Date of loan Print lender nameThe money was borrowed for the purpose of __________________ and will be repaid, in full,Reason for loanby ________________.Full repayment dateThe loan will be repaid in: one payment / series of scheduled paymentsCircle repayment structureIf repayment will be through a series of scheduled payments:There will be _________ payments in the amount of $__________made on the following dates:# of payments Payment amountPayment NumberDate DueDate Paid123456789101112Interest and fees associated with this loan:Interest Rate (if applicable) Fees (if applicable)Example: $500 loan with 15% APR and fixed payments repaymentPayment NumberMonthly PaymentDebt Remaining1$95.83$479.172$95.83$383.343$95.83$287.514$95.83$191.685$95.83$ 95.836$95.83$0.00Monthly payments and debt remainingPayment NumberMonthly PaymentDebt Remaining1$$2$$3$$4$$5$$6$$7$$8$$9$$10$$11$$12$$If for any reason any scheduled payment is late, the following action applies:If loan is not repaid in full by repayment date, the following will occur:______________________________________ _____________Lender’s Signature Date______________________________________Lender’s Printed Name______________________________________ _____________Borrower’s Signature Date______________________________________Borrower’s Printed NameAdditional Notes/Witnesses Present:________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________For more information on  the best ways to borrow money when youre in a jam, check out these other posts from the OppLoans Financial Sense Blog:5 Alarming Payday Loan StatisticsHow to Avoid Bad Credit Loan ScamsIs Guaranteed Approval a Real Thing?Have you ever borrowed a large sum of money from a friend or family member? Wed  like to hear about your experience! You can  email us  or you can find us on  Facebook  and  Twitter.ContributorsJeff Campbell (@middleclassdad1) blogs on all things Personal Finance, Parenting, Relationships more at MiddleClassDad.com. He is a Dad, Husband, Martial Artist and worked for over 2 decades as a leader for Whole Foods Market.Carla Dearing, a Wall Street veteran, is the CEO of SUM180 (@mysum180), an online financial wellness service designed to be simple and affordable. Carla is also CEO of Vibrant Nation, the leading online community of women 35+, and CEO and Managing Director of IMC, a Louisville, Kentucky-based marketing services agency.Debbi King (@DebbiKing) is a personal finance expert, motivational speaker, an d the author of two award-winning books, “The ABC’s of Personal Finance” and “26 Weeks to Wealth and Financial Freedom”. She is also the host of a weekly radio show, “The ABC’s of Personal Finance”. Debbi has been featured in numerous media outlets empowering others to win in the area of money. In addition to her work, she is the founder and President of Lovell Ministries and is happily married with a beautiful 19-year-old daughter, 4 stepchildren and 5 wonderful granddaughters.