Don’t do favors

If you and your time are valuable, no minute is worth giving away. Therefore, when a person asks for a favor, decline; offer to perform the service for a fee. If the fee cannot be afforded, and the person is creditworthy, offer an IOU. If the person is not willing to sign an IOU, let this be a message.

Favors are difficult to track, and impossible to quantify. For example: if you wash a friend’s car for free, will you remember that he owes you? If you do remember, is dinner next month suitable repayment? Currency and IOU’s exist for a reason: to avoid such questions. Therefore, instead of favors, use currency or IOU’s.