My supervisor has borrowed money from me twice and has repaid without issues. Now, she has asked to borrow yet again. I find it awkward to refuse or have such associations with my boss. A friend is telling me to take advantage and charge interest. What do you advise?
There should exist professional boundaries between you and your supervisor. Individuals invest and save money based on their spending habits that develop over time. The relationship with money is the differentiator and not the amount that one earns. Other individuals might have investments beyond the payslip.
It seems your supervisor has over committed her salary and therefore has to borrow to survive. That said, it would help to find out why your supervisor borrows money from you, since by virtue of her position, she earns more than you.
I advise that you politely inform her that you don’t have money to lend her. She can look for alternatives like saving in a cooperative society so that she can borrow for projects and emergencies without burdening others.
If you continue lending her, you might be stuck in that vicious cycle. Ask yourself what would happen if she delayed in refunding the money or completely declined to refund? What recourse would you have? It will be impossible to involve the office since this is your personal arrangement. It could also raise eyebrows as to why you have excess money to lend, notwithstanding that you might have others sources of money. How will you ever approach your boss for a salary review if it seems you have so much money?
Don’t listen to your friend’s advice, since you might get yourself in an arrangement that is not tenable. This is a side hustle you might consider if you have excess cash although it comes with its pitfalls since you might get individuals who don’t refund your money with the agreed interest. The time consumed pursuing the clients could also interfere with your main job. Your supervisor has a lot influence on your career growth in the organisation. Therefore, you must maintain professionalism so as not to jeorpadise your job over personal dealings. BY DAILY NATION