Lending Money to Friends and Family

[AmazingJob]

Have you heard about lending money or loan?

Have you heard from friends or family borrowing money from you?

Is it okay to lend them money in the first place? It is okay to lend them money out of your budget? Most of the time when a friend or a family member goes up to you and ask for loan, it is automatic for us to give - (provided that we have extra for them) - out of compassion.

Sometimes we don't want to see them having to deal with their money situation. So we allow them to borrow. And out of goodwill most of the time we don't ask them to return it back right away. We give them time.

We should not become very lenient to them. It is not teaching them to make money for themselves or to spend what they can only afford. Teach them to fish and they will live.

Before lending them money make sure that it will not hurt your own budget. Do not expect it will be retuned immediately. Friends and family always have alibis.

 

[Magnus2022]

I don't give loan to my friends and relatives because it will lend to misunderstanding. I prefer to give them as a gift. If they return the money, I will thank GOD. If they don't, I will not bother.

 

[AmazingJob]

It is better to give the money as a gift to family and friends.
I prefer that way if I have more to give.

 

[Johnson2468]

There are some cases that you just have to borrow them, most especially when it comes to health issues

 

[AmazingJob]

And end up giving them the money instead of asking them to pay.
Instead of having misunderstanding, we can just understand where they are coming from.

 

[Springtime]

I will lend money to family members because I love and trust them. As for friends, it really depends on how long I've know him/her and do I have enough trust in him/her.

 

[eldavis]

Truth be told, most times i find it pretty hard to borrow my family or loved ones cause i find it pretty hard to ask them for it most of the times, so i just prefer not borrowing out.

 

[rubesh]

I will lend money to family members because I love and trust them. As for friends, it really depends on how long I've know him/her and do I have enough trust in him/her.

I would ask for a written agreement that outlines the repayment plan, interest rate (if any) and consequences of nonpayment.

 

[Sanjeev]

I don't lend money to friends but I am always ready to lend money to embers as I can't deny it. Yes sometimes we get in to a situation when we can deny it and cannot ask them the time limit when they will return it.

 

[Shavkat]

I am so not into this idea. There are so many people who asked money from me, but they never paid me back. It is one rule not to let others borrow some money from me.

 

[AmazingJob]

When I lend my siblings cash, most of the time I won't ask them to return it. If they remember to return, I will be happy. If they can't return it, still okay. We can earn money.

 

[Bisolami]

Have you heard about lending money or loan?

Have you heard from friends or family borrowing money from you?

Is it okay to lend them money in the first place? It is okay to lend them money out of your budget? Most of the time when a friend or a family member goes up to you and ask for loan, it is automatic for us to give - (provided that we have extra for them) - out of compassion.

Sometimes we don't want to see them having to deal with their money situation. So we allow them to borrow. And out of goodwill most of the time we don't ask them to return it back right away. We give them time.

We should not become very lenient to them. It is not teaching them to make money for themselves or to spend what they can only afford. Teach them to fish and they will live.

Before lending them money make sure that it will not hurt your own budget. Do not expect it will be retuned immediately. Friends and family always have alibis.

I will never lend people money again because a lot of them tend not to pay back because you are familiar with them and it is not nice so I will not even do it

 

[Raja]

When you lend them better don't expect getting it back lol. And you cannot even ask them to pay

 

[AmazingJob]

It is difficult for them to be reminded especially if you their situations in life. Maybe remind them but reminders sometimes will not work easily.

 

[misha]

i will give money to friend and family as a gift it they return than its ok

 

[saoussen5765]

In half of case lending money to someone either friend or family means lose of future relationship.

 

[AmazingJob]

Hopefully will not mean lose of relationship for us. I had instances where my 2 brothers lend me money and I was told that I can keep it. And on the other hand, when my sister asked me for help with her operation, I gave her money and did not ask her to pay.

 

[Hate2Wait]

i will give money to friend and family as a gift it they return than its ok

Can you lend me $100 too? LOL I think we all like to help our family members

 

[AmazingJob]

Can you lend me $100 too? LOL I think we all like to help our family members

Yes @misha can give us money because we are friends here.
I agree, who else will help each other - family.

 

[Hate2Wait]

Yes @misha can give us money because we are friends here.
I agree, who else will help each other - family.

Yes we should ask Misha for money as she is new here and should use her first payment to help us lol