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Should You Loan Money to a Friend?

Updated on March 24, 2013

loaning money to a friend - personal loans

If you have money and friends, the situation is bound to come up sooner or later – your buddy wants to get a loan from you. Should you loan money to a friend? Shakespeare didn’t think so. In Hamlet, ol’ Will has this line: “Neither a borrower nor a lender be; For loan oft loses both itself and friend.” An old Scottish proverb echoes this sentiment: “Lend your money and lose your friend.” Maybe these folks were right about the wisdom of not loaning money to friends, but I haven’t experienced any problems, personally, with making personal loans to pals.

I’ve given short term loans to friends many times, and I’ve never been disappointed. My pals have always paid me back when they said they would. Maybe I’m the exception. I’ve read lots of sad tales of how personal loans have destroyed close friendships. Heck, you see it on court TV shows all the time. Two lifelong best buds will be ready to kill each other over a personal loan. So should you or shouldn’t you loan money to a friend?

I think much of the answer depends on your friend or friends. First of all, don’t even consider loaning money if you don’t know the person well. You should have been in a friendly relationship long enough to have judged the other person’s character accurately. When I loan money to a friend, I’ve decided that the friend is trustworthy and honest. Through time, that pal and I have established a friendship based on trust and mutual respect.

If you have a not-so-close pal who’s in dire straits and wants to get a loan, just give her the money, if you can afford it. If she’s a real friend and a person of good character, she’ll repay you if and when she gets on her feet, even though she doesn’t have to.

Tips to successfully loan money

Reason the friend wants to get a loan: Why does Bob want to get a loan from you? This is a key aspect for some friend-lenders. Some people don’t want to loan money unless it’s for an emergency situation, while others don’t really care what the loan money is to be used for. Personally, if one of my close friends needs to get a loan from me, I don’t care how the money is to be used.

A low-interest loan or a no-interest loan? You'll have to decide whether you'll be extending a low-interest loan or a no-interest loan to your pal. If the loan is for a small amount of money, and it's repaid quickly, you might want to make it a no-interest loan. On the other hand, if the loan is for a larger amount and will be repaid over an extended period of time, you might want to charge interest. You could still help the friend out by making it a low-interest loan, with better rates than they'd get at a bank.

Make sure the terms are fully understood by both parties. The terms should include the amount of the loan, any interest involved, and when it will be repaid. For larger amounts of money, you’ll probably want to get all the specifics of the loan in writing. Make sure it’s dated, signed by both parties, and witnessed by a third party. Make copies and give the borrower one. You keep the original in a safe place.

Set up a payment plan for the loan. If your pal wants to get a personal loan just until payday, or when they get their income tax refund, you won’t need to set up monthly payments for such a short term loan. For a long term loan, set up a realistic schedule for repayment – something the friend can afford and that you can live with.

What if the friend can’t repay the loan? Always discuss this possibility. Stuff happens, and it happens on a regular basis! Let’s say your pal gets $500 as a Christmas gift every year from her grandmother. The friend is short of cash in November, so she wants to borrow $500 from you, and she promises to pay it back at Christmas when she gets the money from Grandma. What if Granny dies or loses all her money in the stock market before Christmas ever rolls around? In that case, your pal won’t get her money, so you won’t get yours, either. Now what? The short term loan has likely just become a long term loan. You can formulate a weekly or monthly repayment plan, or you can figure out some other way for your friend to repay you. Unless you really need the cash, you could use the barter system. Maybe you have some jobs around the house that need doing, like repainting your garage or staining your deck. The borrower could complete such jobs in lieu of repaying you with money.

Should you get a loan from a friend?

I’ve been on this side of the equation, also. I’ve had to get personal loans from friends a couple of times. I hated to ask, but there have been a few times when I’ve had to get a loan. These were short term loans, and none of them were very large. Since I repaid the loans very quickly, I feel sure I can get a loan again from the same pals should the need arise. Except for one close friend, the loans were made to me by friends I’ve made loans to. We’ve helped each other out several times with short term loans. So if you have no other choice, you might be forced to get a loan from a pal. How should you go about this? Read on for how to borrow money!

How to borrow money

For how to borrow money from a friend, follow the above guidelines. Go to your friend and explain why you need to borrow money. Telling her why you need to get a personal loan might be important to her. Tell her exactly when and how you’ll repay her. Suggest to her that both of you sign a written contract. This will make her feel like you’re serious about repaying the loan. Don’t borrow any more than you have to or more than you can repay. For short term loans, you might not need a repayment schedule, but for long term loans, you probably will. Most of all, don’t get a loan from a friend unless you have to.

 

Should you loan money? Should you borrow money from a friend?
Should you loan money? Should you borrow money from a friend?

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    • jdavis88 profile image

      jdavis88 6 years ago from Twitter @jdavis88hub

      Good hub, always can be a sticky situation.

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Thanks, jdavis. Guess I've been really lucky! lol

    • Rhonda Waits profile image

      Rhonda Musch 6 years ago from The Emerald Coast

      Really good advice. Great hub. Well spoken. Thanks.

    • profile image

      C.J. Wright 6 years ago

      Great HUB, very usefull. My take is that I give rather than loan. Further, I HELP, not do it for them. If a friend needs 100 bucks and I have it, so be it, I give it. If a friend needs 1000 bucks, I'll help, but certainly not give it all. I never expect the money back. If I get back, I give it away again.

    • profile image

      Woody 6 years ago

      I loaned a "Friend" $20.00 before. Never saw them again. Best 20 bucks I ever spent.

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Thanks a bunch, Rhonda!

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      CJ, that's a good idea!

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Lol, Woody! It wasn't me, was it??

      How do ya like Jonathan's bass?

    • 2besure profile image

      Pamela Lipscomb 6 years ago from Charlotte, North Carolina

      I agree that it depends on the friend. If I know the person is probably unable to pay it back, I give it as a gift. That way I keep a friend.

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Me, too, 2besure!

    • profile image

      Woody 6 years ago

      luved that bass gurl!!!

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Woody, Cory and Jonathan caught 30 in two hours!! I have more pics on my cold water bass article.

    • De Greek profile image

      De Greek 6 years ago from UK

      Well now, since your lending experiences have been good up to date, I think I shall pass by and see you about a personal matter :-)))

    • H P Roychoudhury profile image

      H P Roychoudhury 6 years ago from Guwahati, India

      It is nice and practical hub. It is true “Lend your money and lose your friend.” -as said by the Scottish proverb. But again “a friend in need is the friend in deed”. It is the friends out of all friends to who to loan is a personal assessment.

    • Hello, hello, profile image

      Hello, hello, 6 years ago from London, UK

      A very well worded hub. As you said it depends who it is.

    • fastfreta profile image

      Alfreta Sailor 6 years ago from Southern California

      Good advice habee. I usually won't loan anything that I can't afford to give, and if I get it back that's a bonus. With that being said I'm a sucker for a sad story and usually my money, what I have of it, will go to the cause, and of course I'm known for that. Anyway I like the advice, and maybe one day I'm implement it.

    • Pamela99 profile image

      Pamela Oglesby 6 years ago from United States

      Holle, I think these are excellent guidelines for loaning money to a friend. I have had good experience with that but I have only been asked a couple of time. Sometimes relatives can be more complicated. Good hub, rated up

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      De Greek, sorry - you'll have to wait till after Christmas. Toys R Us got most of my money! lol

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      Too true, HP. Thanks for reading!

    • nell79 profile image

      nell79 6 years ago from United States

      I've heard and tend to agree with the saying that you should never loan out more than you can afford to lose. If more people stick to that, then there would be no need to lose friends over this.

      I've been at the giving and receiving end for this. Funny enough, it's usually family I don't get paid back by. My friends have been great.

      I also make sure that I don't ever borrow more than I can afford to pay back. I wouldn't be able to sleep at night if I thought I couldn't pay a friend who was kind enough to help me.

      Great ideas here!

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      As is true with most things, HH!

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      FF, I'm a sucker for those, too!

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      Thanks, Pam. I haven't had any experiences with family - other than my kids. They always pay me back when they say they will.

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      Hi, Nell! You sound like a smart lady!

    • profile image

      imatellmuva 6 years ago

      I have a friend who's an attorney and he says, "If you can't afford to give it away don't lend it!"

      The principle is, you should chuck it up as a loss, as soon as the loan is extended. And you should never lend money that you depend on for your own needs. Personally, I've had only two experiences where I loaned money to two different friends and their promise to repay, even with a promissory note and payment plan was not honored. Fortunately, is was not money that I needed to get by, but it was still my money and I wanted it back.

      People have a tendency to say whatever it takes to get money, but won't do what it takes to repay! Now that person has to go to different people each time they need help, because of the bridges burned and will ultimately run out of "Go To" people because of the bridges burned.

      It shouldn't be difficult really, but at times it is.

      By the way...great hub!!!

    • BRIAN SLATER profile image

      Brian Slater 6 years ago from Nottingham Uk

      hi- my dad when he was alive gave me this advice-neither be a lender or a borrower be, funny how some stuff sticks and other things get left behind. Good information.

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      Imatell, I know what you mean. There are a lot of folks like that, but I've beenlucky to have friends who aren't. lol

      Brian, that's good advice, but sometimes it's difficult to follow!

    • Sembj profile image

      Sembj 6 years ago

      You've hit all of the important points. Great stuff.

    • profile image

      matherese 6 years ago

      I find this hub very useful, thanks for the info Habee.

    • Curtis Aron profile image

      Curtis Aron 6 years ago from Metro Atlanta

      Great Hub. I loaned money to a friend back in 2003 that still has not been repaid. We are still friends but I will never loan money to a friend again.

    • Pixienot profile image

      Pixienot 6 years ago from Clarksville, Indiana

      My theory about loaning money, of which I have little, is: if I can afford to never get it back, loan it and if and when it is returned it's a bonus.

      Once, it did cause a huge unrepairable dent in our friendship. Sometimes you think you know someone and sometimes it is not so.

      Thank you for the article. Very well written.

    • melbel profile image

      Melanie 6 years ago from New Buffalo, Michigan

      I've found that when I've loaned money to friends, it's made things weird. I had a friend who avoided me afterward even though I hadn't asked for the money back. Later, he wanted to borrow more and I asked him about the money from before and he got angry with me. It's turned out that he'd borrowed money from all his friends (and never paid them back.) He lost a lot of friendships from doing that. To me friendship is worth more than money so I generally don't ask for it back, but when I'm not repaid, I won't loan to that person again.

    • MoneyCreator24 profile image

      MoneyCreator24 6 years ago

      A friend taught me, not lend money to friends. If you ask a friend for money, give it to him as a gift. You do not see it again anyway. To regard it as a gift, relaxes the relationship between you and your friend. If you do not want to give away money, then just let it be. You can also say no. Is allowed.

    • lender3212000 profile image

      lender3212000 6 years ago from Beverly Hills, CA

      I think I would give it before I would loan it, it just seems like a recipe for a bumpy relationship.

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Sembj, glad you stopped by!

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Matherese, thanks for reading!

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      Curtis, sorry you had bad luck.

    • Taleb80 profile image

      Taleb AlDris 6 years ago

      Habee

      Thank you for this real life hub.

      Actually, I borrow so much from my friends, but I always pay in time.

      One time I sold many of my home furnitures to pay one friend at the time without even telling him, as I know he will not accept.

      Now as for years, I always pay at time, most of my friends will be ready to support me any amount.

      I always ask loan from the friend I know they have & they don't have short term plan for it, & I keep in my heart that I will be ready to sell even "my spoon" to pay him at time.

    • profile image

      Sir Herry Brown 6 years ago

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    • motherbeastly profile image

      motherbeastly 6 years ago from Argyll and Albox

      So much of what you say is true, but it is sad when you lose a friend because you have lent them money. I 'lent' a friend money, never intending to ask for it back because I didn't think her situation would improve. I had just got my grant for uni and she knew I had a bit of money for a change. When she couldn't pay it back she stopped talking to me (embarrassment I think), and never talked to me again, even though I never asked for it. I felt the loss of my friend far more than the loss of my money.

    • papatrimble profile image

      papatrimble 6 years ago from Baltimore, MD

      I definitely agree with the idea that you never "loan" to family or friends, it's just better to give the cash if you have it. The idea of having to pay someone back that you know can place strain on a relationship from both sides.

    • nflagator profile image

      nflagator 6 years ago from North Florida

      In my opinion, the best rule of thumb is to only loan money IF and when you are willing to forever part with the amount. No matter who you are loaning it to. Money should not be more important than the person you loan it to. That way I don't become resentful if the person fails to return it, or I am delighted when it is returned. Either way, my friendship is not jeopardized.

    • profile image

      TattoGuy 6 years ago

      Great hub, I would loan money to a friend or family as I wouldn't see them stuck. Yes I have been let down but such is life, I would still help them out. Enjoyed your viewpoints !

    • katyzzz profile image

      katyzzz 6 years ago from Sydney, Australia

      I've happily lent money to friends before with no adverse affects, but as I recently had my fingers burned severely, the worst case scenario, I shall not be doing so anymore.

      Friends? Who can you trust? Maybe a small amount you can forgive and forget but when it's big time and there is big time deception, it comes as a hell of a shock.

    • SEO IT! profile image

      Karla Whitmore 6 years ago from Tucson, AZ

      I consider my best friends to be completely trustworthy. We've borrowed and paid back amongst each other from elementary school.

      A good rule of thumb is that if you cannot afford to give it, don't loan it.

    • ugagirl66 profile image

      Gina 6 years ago from South Carolina

      Great hub..

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Pixie, I've heard many similar stories. Sad.

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Melbel, that seems like a good strategy.

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Moneycreator, sorry you had a bad experience. Thanks for reading!

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Lender, I'm sure it could be for many friendships!

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Wow, Taleb, you sound like a really trustworthy person!

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Sad experience, Mother. Have you tried to reconnect with your pal?

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      True, Papa. For some reason, I think it would be trickier with relatives than with friends.

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Inflagator, one of my daughters uses your strategy!

    • dudumodu profile image

      Oludotun Osunsanya 6 years ago from FCT,Abuja

      I love this piece, especially as I have dreams of writing one on The Art of borrowwing and simply haven't had the time for it.

      There is that bit about documenting which my cpmpatriots will find repulsive. Here in Africa, the moment you suggest that any form of business between friends or family be documented, you immedoately make an enemy.

      I agree on the following basic principles :

      (1) lend only what you can loose

      (2) mark it off as a possible loss the moment you extend it.

      (3) lend only to people you know well enough for the amount involved.

      Nice article on a tricky subject.

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Thanks, Tatto. Guess we're just old softies! lol

    • profile image

      roses dreams 6 years ago

      nice way of dealing with a tricky subject because i have loaned money to friends some paid back and some didn't

    • mviadam profile image

      mviadam 6 years ago

      I've seen the money/friends and family thing break down a ton and it always seems to come back to having clear expectations from the beginning. It reminds me of the Seinfeld episode where Elaine borrows from Jerry to get the apartment above him. Risky business.

    • ktowers profile image

      Kate 6 years ago from England

      thanks for sharing :(

    • Glemoh101 profile image

      Glemoh101 6 years ago

      thanks for this great hub , and my reply is .. yes i loan money to my friend if he need it.

    • Sarah Writes profile image

      Sarah Writes 6 years ago from California

      Great hub with a lot of good points, and interesting topic. You’re definitely right if you have a friend the situation is bound to come up. My general rule of thumb is only lending money that I can afford not to get back. If I’m down to my last dollars I will not lend it out simply because if I don’t get it back I wouldn’t want to be placed in a bind, also I don’t want to get into a financial dispute with a friend. Look forward to reading more of your Hubs, take care!

    • phoenix482010 profile image

      phoenix482010 6 years ago from Cobourg Ontario Canada

      Here,s the rule of thumb ,depending on the amount and time duration short or long term , only lend money out that you can afford to lose or say good by to..meaning if your relative or friend can,t pay it back then consider it a lesson or money you didn,t half to worry about and most times ,it depends on who it is , friend or relative ,i agree with the writer above , it can cause a you to lose a good friend or family ,only you know the risk factor .....

    • surgimesh profile image

      surgimesh 6 years ago from Santa Monica

      Nice tips here.. But then, there are always contingencies, aren't they?

    • Ingenira profile image

      Ingenira 6 years ago

      Good tips here, well thought of.

      And I love your new avatar, so cute !

    • profile image

      Halvin Pikavippi 6 years ago

      Very nice article mate!

    • porcupine73 profile image

      porcupine73 6 years ago from New York

      That's a good point. I don't loan money often but if it's to a friend or family member I tell them it is a gift, not a loan. I just feel it works out better that way.

    • profile image

      mikestanton 6 years ago

      lets be honest these days no one has any money to lend anyone so to me this hub was pointless

    • zoey24 profile image

      zoey24 6 years ago from South England

      Great hub! and very true, i have previously lent a friend money she has never paid me back and we are no longer friends, it is sad that money can ruin a friendship but i have certainly learnt my lesson. Voted up!

    • crismegirot profile image

      crismegirot 6 years ago

      hi habee, i enjoyed reading your hub..you've been lucky indeed to have the chance to lend some money and have your friends return them...

      i wish i could too but unfortunately it's me needing a friend to lend me some money...lol

      keep it up!

    • tim-tim profile image

      Priscilla Chan 6 years ago from Normal, Illinois

      Habee, without even reading your hub, I would say no. It always hurts the friendship! Thanks for the great hub though!

    • Madurai profile image

      Madurai 6 years ago from Online

      very nice tips for providing loan to friends..

    • privateye2500 profile image

      privateye2500 6 years ago from Canada, USA, London

      No - never.

      Want to develop a resentment? go ahead.

      My concept is simplle - GIVE the money or not - but do Not Ever expect to get it back.

      IMO - if you can afford to lend it - then you can afford to GIVE IT.

      Giving without expectations leaves you free as a bird and feeling great too.

      Lending leaves you wondering...Not good.

      If this is a TRUE friend - just GIVE IT FREELY.

      If they ever *give* it back - that's their deal. :}

      Melanie

    • Patty Inglish, MS profile image

      Patty Inglish 6 years ago from North America

      I like what you say about making the loan a gift instead and think it's best. Thanks for the Hub.

    • Borsia profile image

      Borsia 6 years ago from Currently, Philippines

      Money loaned to friends, family or others close to you should always be considered a gift. Never lend an amount that is greater than the relationship will bear if it isn't returned. As others have said have a payment plan and all that but be prepared both financially and mentally for problems.

      I am an ex-pat who travels pretty much full time and I've lived in a number of countries and cultures.

      If you are considering loaning money to any foreigner, especially a love interest this rule should be taken ten fold. Never expect to be repaid,,, ever,,, if it is an amount that you will notice loosing don't even think about it!!

    • SUSIE DUZY profile image

      SUSIE DUZY 6 years ago from Delray Beach, Florida

      Thanks for another good hub.

    • profile image

      RegStier 6 years ago

      Depending on the amount of money concerned I would either give it as a gift, or for something substantially larger I would need to arrange some kind of contract.

    • DNemesis profile image

      DNemesis 6 years ago

      Very good points. I stopped lending a long time ago because friends always think its ok not to give back, or they just "forget."

    • profile image

      ryankett 6 years ago

      I am so glad that you wrote this Hubpage, I was recently in a moral dilemma. I sensed that a friend had been making hints about his financial situation recently in order to encourage me to offer to lend him some money. I did not offer, I figured that if he wanted some money he could ask me. This friend is not good with money, his parents have had to bail him out before, I would have refused to lend it to him. Why? Because he works, earns enough to pay his rent and bills, and his lack of control over money is a greater problem than any percieved lack of money. There are some friends who I would have offered to lend money to, but ultimately I would need to a) know that they genuinely need the money and not simply a change in lifestyle, b) know that they are sensible enough to pay me back at some stage. I would lend money no questions asked to somebody who is a proud person, the type of person that would be embarressed to hold the debt. Those are the types of people that pay you 10% extra without you asking.

    • Xishan Ansari profile image

      Xishan Ansari 6 years ago from Pakistan

      good advice and nice hub too thanks

    • ICollier profile image

      ICollier 6 years ago

      Good Advice, I try to loan other people money only if I know that it is for a good cause,such as food or fix there cars etc. I normally don't even call it a loan. I give them the money without expecting it back. If they can give it back then great, but if not that is ok. At least I used my extra money on a good cause.

    • positivevibestech profile image

      positivevibestech 6 years ago

      Afast track to losing friends is to become their banker. great informative hub

    • bollandmiller profile image

      bollandmiller 6 years ago from So Cal

      I never loan money to a friend. If he needs money, its better to give it to him. If you loan it, your friendship might be over because of how "collection" should be handled. It's a very personal subject.

    • rswebb profile image

      rswebb 6 years ago from Orem, UT

      I think its too big of a generalization for me to say that I'd never loan to a friend or that I would always loan to a friend. Each situation is unique and in one situation it may be appropriate and in another it may not be.

    • dpatullo741 profile image

      dpatullo741 6 years ago from UK

      The guidelines you have provided are fantastic. They have awakened me.

      Thanks buddy

    • profile image

      worlds_unity 6 years ago

      you are the most intelliigent guy]

      thank for ur hub

      really it would help us

    • lola oyedotun profile image

      Lola Oyedotun-Balogun 6 years ago from Calgary

      Good topic, i loan a friend money when she deperately needed it,she practically insulted me when i asked her for it. Well she finally gave me but incomplete balance after more than a year. Lession to me is to know each person capability before giving lending next time.

    • mackwpayne profile image

      mackwpayne 6 years ago from Lake Placid, Florida

      Years of experience has taught never lend money to friends or relatives. It will lead to loss of friends and uncomfortable Thanksgiving dinners.

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Katy, sorry about your misfortune.

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      SEO, sounds like we have similar pals!

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      UGA, how 'bout them Dawgs?!

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Good points, dudumodu!

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Roses, thanks for stopping by!

    • petersimon profile image

      petersimon 6 years ago from UK

      Nice hub. Depends on the amount... if its a good amount never loan money to a friend... you loose the money or the friend or both.

    • profile image

      habee 6 years ago

      can i bowwow 1,ooo bucks

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      mvi. it can be risky, if you're not careful!

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      ktowers, thanks for reading!

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Glem glad you stopped by!

    • Mandeeadair profile image

      Mandeeadair 6 years ago from California

      Fantastic Hub!! Great advice!

    • Juliet Christie profile image

      Juliet Christie Murray 6 years ago from Sandy Bay Jamaica

      This is a very tricky situation

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Sarah, that sounds reasonable!

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      True, Phoenix. There are always risks involved.

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Sergi, always! Just part of life, right? lol

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Ingenira, awww...thanks!

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      Porcupine, glad you left a comment!

      Thanks, Halvin!

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Mike, sometimes even $20 or $50 can make a difference!

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      Thanks a bunch, Zoey!

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      chris, I guess I just have great friends! lol

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Tim-tim, loaning money to a friend has always worked out well for me.

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Thanks, Madurai. Love your avatar!

    • gajanis786 profile image

      gajanis786 6 years ago

      Very good....in fact to loan or not to loan a friend depends upon the situation in which this loan has been asked....may be this friend in in emergency need of this loan and if you have this amount which you can spare.....why not you should help...after all this is friendship all about.....and on the other hand this should be the borrower's duty to repay this loan amount as soon as possible as per the terms agreed.Thanks.

    • gvannorman150 profile image

      gvannorman150 6 years ago from Newark, New York

      I loaned money to a "friend" once. It was quite small, the guy wanted to borrow $20, I said yes...the place where we worked fired him the next day. Never heard from him again :)

      I agree with Shakespeare

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Hi, Melanie. Hope you got my email.

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      You're very welcome, Patti!

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      Bosia, I love your second sentence!

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      Susie, thanks for visiting!

      Reg, that's a good policy.

    • craftybegonia profile image

      craftybegonia 6 years ago from Southwestern, United States

      I've always heard that money can separate friends. It's great of you to address the topic. It will help people.

    • profile image

      ghostberry 6 years ago

      I feel, if you are real friends, it shouldn't be a problem. Because if you are a real friend you will make sure that the money is paid back, also if you are real friends the person loaning the money should already know the the other friend's situation.

    • molson5070 profile image

      molson5070 6 years ago from State College, Pa

      I hope that situation never comes up. sounds too messy!

    • JohnBarret profile image

      JohnBarret 6 years ago

      Good advice and good writing.

    • profile image

      not white trash 6 years ago

      I think it depends on the situation, I've seen many friendships fall apart as the borrower hasn't paid back in time, and its been fairly obvious they considered smoking, drinking, new un-essential purchases more important than paying the money that was loaned to them in good faith.

    • Real_Words profile image

      Real_Words 6 years ago

      I do agree . I personaly have never loaned more then I could afford to loose.

    • kcreery profile image

      Kevin 6 years ago from Whistler Canada

      I wouldn't loan money to a friend. If you afford not to get the money back then it's ok.

    • networkandy profile image

      networkandy 6 years ago from Connecticut

      Lending money to anyone requires trust. I would lend money to a friend if I knew them enough and if I see they are responsible at home.

      Great hub I vote up for this.

    • profile image

      Bousquet hockey 6 years ago

      yes u should because if you do not and you ask if you can spare a couple of bucks they wont give it to you... it is carma.

    • profile image

      Mat Chaudhry 6 years ago

      Sure, but not to take it back.

    • kaoskakimu profile image

      kaoskakimu 6 years ago

      couldn't agree more! :)

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      DN, I don't blame you!

      Peter, most of my loans have been relatively small.

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Okay - who's the joker posing as habee? Is that you, Shan??

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      Right, Ryan. All my friends are like the ones you describe as "proud." I can't imagine one of them not paying me back - they always have.

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      Thanks for reading, Xishan.

      ICollier, you sound like a great friend!

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      Positive, thanks for stopping by!

      Bolland, personal loans to friends can be tricky!

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      Exactly, rswebb. It depends on the friend and on the situation.

      Thanks a bunch, dpatullo!

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Lola, that sounds pretty smart!

      Why, thank you, Worlds!

      Mack, sorry you had a bad experience. I've haven't...yet. lol

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      Thanks, Mandee!

      Juliet, making personal loans can get rather sticky!

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      I hope so, Begonia!

      Ghost, real friends will pay you back.

      Molson, it will prolly come up eventually. lol

    • Eileen Hughes profile image

      Eileen Hughes 6 years ago from Northam Western Australia

      Great hub habee, I am normally a trusting soul but once bitten twice shy. So yes you have to be careful.

    • Trinsick profile image

      Trinsick 6 years ago from Cali

      I loaned money to my Uncle, and it was difficult. I basically thought of it as I might not get this money back. he payed it back, and I was happy, but i wouldn't have thought of him less if he couldn't.

    • profile image

      Make Money While You Sleep 6 years ago

      Some friends are worth being helped though. I think i should help a friend in need if i am capable of doing so. It is even better to show him or her how i make my money too..

    • profile image

      Zurich11 6 years ago

      I think it's usually a good idea to find out why your friend needs the money. If it is an emergency situation I'm generally happy to loan the money, but more often than not it turns out they are getting involved in some weird investment scheme. At least in my experience that's how it turns out.

      Thanks for the hub!

    • jeanie.stecher profile image

      jeanie.stecher 6 years ago from Seattle

      Well for me, it will depend upon the situation and my friend's needs. If it would be a life and death situation, then I would probably do so. The reason why I would be hesitant to do this because later on, this might be the thing that could break our friendship. Money could be the root of misunderstanding and I don't want to loose a friend.

    • profile image

      linda w 6 years ago

      I have lend out to close friends because I felt sorry for them when they were in hard times.............

      it has be awhile since I lend it to them.

      I guess I will never see it again.

      snswer ro your question: NO!

    • Max Clayne profile image

      Max Clayne 6 years ago

      Nice hub for those who want to loan money to their friends, now we need a a new hub about how to get a loan from a friend .lol

    • Mamelody profile image

      Mamelody 6 years ago

      Well unfortunately for me I have lost friends due to that four letter horrible word called "L-O-A-N" I've made it a point to NEVER loan anyone money, I don't care who it is! Lucky for me I don't need to borrow money as I got my own. Not that am being cruel, but I wasn't as fortunate as you Habee in borrowing money to mates.

      Otherwise another good hub. Kee 'em coming!

    • CuTeGiRl1988 profile image

      CuTeGiRl1988 6 years ago

      I think if you knew the friend for a few years then yeah i would give them the money they needed, but would want to know what they are going to be using it for.

    • dobo700 profile image

      dobo700 6 years ago from Australia

      Never loan money to frends

    • Vcize profile image

      Vcize 6 years ago from United States

      I see no problem with loaning small amounts of money. Large business-like loans are a disaster waiting to happen though.

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Gajanis, sounds like you're a good friend to have!

      GV, he wasn't a real friend, then!

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      John, thank you very much!

      Notwhitetrash, that happens sometimes. You have to really know the friend well.

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      Real, you're a smart woman!

      Kcreery, I appreciate your reading and commenting!

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      Thanks, Andy! It's all about trust.

      Bousquet, I hadn't thought about that, but I do think karma can bite you in the butt! lol

    • profile image

      salman404 6 years ago

      trustworthy friend never loss your trust when you give loan to him/her. Its all about trust. Give loan how much you can support.

      because : A friend ins need a friend indeed

    • Kwazzy profile image

      Kwazzy 6 years ago from Jacksonville, FL

      This is one of those topics that can sometimes be awkward! i had a friend once, total moocher... sapped me for everything he could until i put an end to it... great article though! Enjoyed reading it!

    • lifeinprime profile image

      lifeinprime 6 years ago from Catawba County, NC

      Great information! Thanks for sharing! Habee, you are blessed that your friends have paid you back. I am usually cautious, as I have been ripped off a couple of times!

    • profile image

      Karen @ Ethical Businesses 6 years ago

      I have lost two good friends because of lending money to them. I woul dnever do it again to be honest with you as its very awkward having to reing them . Eventually they both avoided me whenever they could unitl I never saw them again. Sad isn't it really?

    • Awol87 profile image

      Awol87 6 years ago from Out and About

      Well I agree with you to a certain extent. I, unlike you, HAVE been burned. The general rule of thumb I like to follow for lending money is: "never give out more than you're willing to never see again."

    • linkon999 profile image

      linkon999 6 years ago

      Great hub keep on writing

    • Y not profile image

      Y not 6 years ago

      Yes.. If you will never need it again.

    • Bronson_Hub profile image

      Bronson_Hub 6 years ago from San Francisco, CA

      It's your money, you don't need reasons to justify it. If their friendship is contingent upon whether or not you give them money to borrow, regardless of precautions they offer to set up, perhaps it's time to consider finding new friends.

    • Rajnil profile image

      Rajnil 6 years ago from Ahmedabad, India

      Hey..you have written a useful hub but people do take their own decisions based on circumstances. The best thing is to make clear the exact time you want your money back. More importantly, prioritize things and you should know the person better especially dealing with money matters. Money can spoil the best of friendships so always be very clear in terms of lending or borrowing it. You have really put alot of effort and it has paid off. Great hub!!!!

    • Betty Zeritis profile image

      Betty Zeritis 6 years ago from www.passitforwardgifts.com.au

      If a friend is in genuine need absolutely, but I have learnt that you need to be careful when you are asked again! People can become dependent on your help and get defensive and angry when you don't continue to give them assistance. I have had a strained frienship or too as it get frustrating on both sides - especially when you observe the person spending on frivoulous things and making no attempt to pay you back or even start to avoid you which is plain unfair. Its a tough one!

    • gretchenfarricker profile image

      gretchenfarricker 6 years ago

      I believe that this hub was very well spoken. I truly believe that there are the few exceptions, where a loan is given to a friend in need, and then later repaid, but there are more cases of loans being lent to friends, where it later jeopardized the friendship due to nonpayment. It is critical that you have known the person for an extended period of time, long enough to know their character and whether or not they are trustworthy to be given that opportunity. You may start off by loaning small amounts like $20 here and there, and see if that amount has been repaid first, before loaning larger amounts that would be highly missed much more than the smaller amounts. And, I want to stress that the word loan has been used this whole time, not give. When you give and speak of giving, the other person feels as if this has been given as a gift and does not need to repay. Make sure to stress "loan", when lending out your money and expecting it to be repaid back.

    • topseoservices profile image

      topseoservices 6 years ago from Mumbai, India

      Thanks for sharing this hub!!! People will very selective in giving the money.

    • profile image

      Yuleluv 6 years ago

      My friend itself ditched me over money. This post will help a lot of people.

    • profile image

      saduni 6 years ago

      If you are really good friends you should, you wouldn't want to disappoint the friend but on the other hand what if they just get away with it? But i'll tell you what don't!

    • profile image

      jamil 6 years ago

      Hi Rebecca,

      seems like you're getting a lot of traffic on this Hub! Good article. I like how clear you made writing and posting on e-zine articles.com. I need to do that and I know it. My traffic is picking up but on any given day I know I have probably 70% of my Hubs that get little to zero traffic. So my traffic probably comes from 30% or fewer really. Hubs I wrote this year are consistent. So my writing has improved with using titles, etc.

      Also, MikeNV has a good comment.

      I also suggest posting the Hub url to web sites or blogs were you become a regular visitor. Make a commitment for a few months to post once or twice per month.

      I'll rate this up.

    • profile image

      jamil 6 years ago

      Hi Rebecca,

      seems like you're getting a lot of traffic on this Hub! Good article. I like how clear you made writing and posting on e-zine articles.com. I need to do that and I know it. My traffic is picking up but on any given day I know I have probably 70% of my Hubs that get little to zero traffic. So my traffic probably comes from 30% or fewer really. Hubs I wrote this year are consistent. So my writing has improved with using titles, etc.

      Also, MikeNV has a good comment.

      I also suggest posting the Hub url to web sites or blogs were you become a regular visitor. Make a commitment for a few months to post once or twice per month.

      I'll rate this up.

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Hi, Mat. Thanks for reading!

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Kao, thanks a bunch!

      Eileen, I agree that you must be very careful in this situation.

    • profile image

      realsparkler 6 years ago

      I think it depends on the friend and the circumstance. Each situation should be evaluated on its own merits. Some people simple aren't good candidates to loan anything to. They have a bad track record and have already proven they aren't reliable or dependable. But, so too, when you make these sweeping generalizations or hard fast rules what happens should you end up being the one on the asking end? Wouldn't you want your close friend(s) to be there for you? After all, you wouldn't be asking unless it was a dire circumstance, right? If you're a trustworthy person and intend to make every effort to repay the loan than your friends should expect you'll be a person of your word. Loaning money gets a bad rap because too many unscrupulous people take advantage of others and make it hard on everyone. Life happens and true friends should be there for each other when the chips are down. That door swings both ways and sometimes you are getting something out of the friendship far more valuable than money.

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      Makemoney, that's a great idea!

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      Zurich, I don't think I'd loan money to a friend for some weird investment scheme, either!

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      Jeanie, it's a tough decision, for sure.

      Linda, sorry you got burned.

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      Funny, Max! Maybe you could start by getting a very small personal loan from a pal first.

      Thanks, Mamelody. Maybe it's because my pals are older?

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      Cutegirl, you should def know the person well before extending a personal loan.

      Dobo, thanks for reading and leaving a comment!

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      Vcize, I agree with your comment. Large business loans are different than small personal loans.

      Salman, my feelings are much the same as yours.

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      Thanks, Kwazzy. Glad I no longer have any moocher pals! lol

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      Life, I'm truly blessed to have such great friends!

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      Karen, that is sad. I have no problem making personal loans to pals, as they've always paid me back.

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      Awol, that's sound advice!

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      Thanks a bunch, Link!

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      Ynot, that depends on your friends! lol

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      Right, Bronson. I don't think I'd want a friend who demanded personal loans from me! Especially a no-interest loan! lol

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      Thanks, Ranjil. I agree that it's important to know your friends extra well before extending a personal loan.

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      Sakil, many thanks for reading!

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      Betty, the situation you describe wouldn't make me very happy, either! lol

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      Exactly, Gretchen - you need to make it clear up front that the money is a LOAN and not a gift.

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      Topseo, people SHOULD be very selective in loaning money - and in borrowing money! lol

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      That's terrible, Yuleluv! He/she wasn't a real friend, in that case.

    • mistyhorizon2003 profile image

      Cindy Lawson 6 years ago from Guernsey (Channel Islands)

      A so called friend of my Husband's promised to pay £300 to our credit card that he owed my Husband from over 2 years earlier. When we checked the credit card statement a week or so later he had not paid the money. Richard tried to find the guy and was told he had moved from Guernsey to Wales the previous week. Obviously the so called 'friend' thought he had got away with it. Unfortunately for him a friend of my Hubby who had let's say, 'connections', managed to get an address for where this guy had moved to. It just so happened he had moved to Cardiff, which also happened to be where my Hubby's brother lived at the time. Anyway, without saying too much, Hubby's brother paid this 'friend' a 'little visit', got back the £300, plus a further £100 for the inconvenience (the extra £100 Hubby's brother got to keep).

      I just love it when justice is done :)

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Saduni, I'd only loan money to a friend once if he didn't pay me back!

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Sparkler, thanks for your thoughtful comment. I like the way you think!

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Misty, I love your account of the loan to a friend. I'm so glad you and hubby got justice!

    • TheMMAZone profile image

      TheMMAZone 6 years ago from Kansas

      I agree with what you say about loaning money to friends. Good hub!

    • Keith Worth profile image

      Keith Worth 6 years ago

      Nice analysis of the "friends and money" situation. My personal policy has always been never to mix the two if it actually matters to me whether I get the money back or not.

      Like you said for those situations where the need is great, though, I'd rather just give them the money without expecting it back then to be expecting repayment and gamble the friendship on it.

    • MikeNV profile image

      MikeNV 6 years ago from Henderson, NV

      The correct answer is it is okay to give money to a friend if you want but to loan money to a friend the answer is always no.

      But you should ALWAYS feed your pets! :P

    • profile image

      mfwalden004 6 years ago

      Great post.

      I have learned long ago not to lend money. When a friend or family member needs monry and choose to help, I look at it as a gift. I do not expect to get it back, but if they do repay, its like a little blessing.

    • gfarmer profile image

      gfarmer 6 years ago from Canada

      I agree that it depends on the friend and on the amount!

    • ahmiz profile image

      ahmiz 6 years ago

      I've never personally lent money to a friend nor borrowed from any, but I do have a friend who loaned a substantial amount to his "friend". Let's just say it didn't work out very well and they're not really friends anymore.

      I definitely agree you need to be very careful with lending money, even with people you may consider great buddies. Personally, I'd still lend it to my best buddies if they need it. Anyway, thanks for the interesting read.

    • profile image

      cletus 6 years ago

      this is really a useful information.

      to me i give and don't loan. anything i give to my pals i consider it gone. ( don't really know why it is so with me)

    • janesix profile image

      janesix 6 years ago

      a great way to lose friends is to borrow or loan money:)

    • Rastamermaid profile image

      Rastamermaid 6 years ago from Universe

      If I can't afford to lose it I don't loan it.

    • sid_candid profile image

      sid_candid 6 years ago

      I will not loan money to a friend. I may end up losing both my money as well as a friend. Great Hub.

    • keithalston profile image

      keithalston 6 years ago from Fayetteville

      trust me its never good to loan money to friends as well as family money cause you will lose both

    • PegCole17 profile image

      Peg Cole 6 years ago from Dallas, Texas

      It creates a sticky situation when you do loan a friend money and hard feelings when you don't. Suppose you loan someone money and the next time you see them they show you their brand new expensive shoes? hmmm. I agree with the others who say give not loan. Then there are no expectations. "I'll gladly pay you Tuesday for a hamburger today."

    • dsmythe profile image

      dsmythe 6 years ago

      I wouldn't loan money to a friend just because I have no money to loan.

    • BIZN4MER profile image

      BIZN4MER 6 years ago

      I don't like loaning money or property out to my friends because it seems like when you loan your things out, property is 9/10th of the law so in time they feel like they own it. My name is Bizn4mer, and if you need a TRUE FOLLOWER then FOLLOW me NOW. Don't worry I wont ask you to loan me anything.

    • austinhennry profile image

      austinhennry 6 years ago from USA

      I feel its good to help friends in their critical situations. The ideas you have suggested are good and interesting.

    • wheelinallover profile image

      Dennis Thorgesen 6 years ago from Central United States

      I made the mistake of loaning a friend money I couldn't afford to lose. I was never repaid and really felt the crunch. I won't make that mistake again and since half my monthly income is going to pay off a bad investment I don't think anyone will be borrowing anything from me for quite a while. My bad investment was an internet business website and the training to get it set up. I was told I would have the money by the time I needed it, not even close, so be careful.

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Zone, thanks for reading!

    • 6 String Veteran profile image

      6 String Veteran 6 years ago

      What grade is the friendship? If the relationship is that fragile that a couple of bucks can jeopardize it then I wouldn't consider a friendship. So I think before the question can be effectively answered, FRIENDSHIP needs to be defined by each.

      I've been in a situation where someone I barely knew went out of their way to give me back $20. I would have gladly given it to them.

      Another time--my last example for those waiting for me to quit this--my 'best' friend did not attend my wedding (and it's not like this was my 5th one LOL). That was far worse than losing a $5k or $10k loan. Even though, I'll admit, I've never lent such an amount...but DAMN THAT HURT, believe that.

      Finally, be ready to GIVE to a real friend, unless it's a large amount that you can't offer as a gift.

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Keith, nice to have you as a visitor to my hub!

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Mike, my pets don't allow me not to feed them. If I did, the Great Danes would take my food! lol

    • smartnet profile image

      smartnet 6 years ago

      Well Said My Friend, Thanks

      I have lent money to friends before but been very careful!!!

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      MF, can I be your new best friend?? lol

    • profile image

      gkjand 6 years ago

      Amazing share.. Generally I give loans to my close friends when they are in need, and they return it back within a week. So, I trust them. :)

      I guess everyone should also trust your close friends atleast..

      Wap54G

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Definitely, gfarmer!

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Cletus, that seems to be a popular philosophy!

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Jane, I think that def depends on the friend!

    • superyoss profile image

      superyoss 6 years ago from Sidoarjo, East Java, Indonesia

      In my opinion, we must be careful with our money, because some of our friend did not have a good will to return that money!

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Mermaid, thanks for stopping by!

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Sid, that sometimes happens, unfortunately.

    • ScottMadiJack profile image

      ScottMadiJack 6 years ago from Philadelphia, now living in Delaware.

      Ive never had a problem loaning money to friends, its loaning money to FAMILY that gives you the real punch in the face!

    • Darrencall profile image

      Darrencall 6 years ago

      depends how much

    • soneblom profile image

      soneblom 6 years ago from South Africa

      Depends, you got to be sure about the reason for the loan if its not for something important, then think carefully before it becomes a habbit.

    • CMattingly4303 profile image

      CMattingly4303 6 years ago from Dallas, Texas

      I always go by the old addage... Don't lend out money unless you are ready to never see it again

    • aproduk profile image

      aproduk 6 years ago from Kingston N.Y.

      I agree with CMattingly4303 dont lend money you cant afford to loose,

    • snoor profile image

      snoor 6 years ago from Leeds

      good advice and nice hub too thanks

    • spirit7 profile image

      spirit7 6 years ago

      Great information.Very interesting

      Credit Repair Lawyer

    • Bijosh profile image

      Bijosh 6 years ago from from the cosmic sea, sustaining life and radiating purity.

      It's a wonderful hub indeed!

    • Neale profile image

      Neale 6 years ago

      Only if you don't need to get the money back..

    • BabyStuff profile image

      BabyStuff 6 years ago

      We learned the hard way never to loan money to friends. Loaned a bunch to a good friend who then never paid it back and we never see him anymore. I wonder why?

    • profile image

      sunh lee 6 years ago

      hmmmm.....

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Keith, I haven't had any problems at all with personal loans I've made to GOOD friends.

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Well, Glen, I don't think I'd be too happy about that, either! lol

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      Peg, I love that old saying from Wimpy! lol. Thanks for reading!

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      Dsmyth, you're not in that boat alone, my friend!

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Biz, thanks for reading and commenting!

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      Thanks, Austin. I agree.

    • KimberlyAnn26 profile image

      KimberlyAnn26 6 years ago

      Great Hub. I think I would only loan a small amount to a close friend or family if they really need. I would want to know what they needed it beforehand before loaning them anything.

    • profile image

      dstn76 6 years ago

      I never loan to family or friends, only give it to them no strings attached if I can afford it

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      Wheel, so sorry you had back luck with a loan to a friend. It happens.

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      6 String, I mostly agree with your views about loaning money.

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      Me, too, Smartnet. Thanks for reading!

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      Kethy, thanks for stopping by and leaving a comment!

    • profile image

      sreekumar sukumaran 6 years ago

      You have so many comments but find no body suggested to restrict loan amount to the capacity of your friend to repay. Giving beyond that you are sure to loose him.

    • taxinfo profile image

      taxinfo 6 years ago from Rohtak, Haryana, India

      Where Money comes between friendship there could be a danger to friendship. Friendship can broken in the dealing of money. So try to keep away money from your friendship.

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Gk, I guess you and I are lucky to have trustworthy friends!

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      True, Super, but if you're careful choosing your friends, giving small persoanl loans shouldn't be a problem.

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Darrren, the loans I've made have been small.

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      Thanks for commenting, soneblom!

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      CMatt, that's always a good guideline!

    • jamiecoins profile image

      jamiecoins 6 years ago from ireland

      wow great information

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Aproduk, I agree, and thanks for reading!

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      Snoor, I appreciate that!

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      Wow, bijosh - thanks!

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      Neale, that's sometimes true. Sad, but true.

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      Babystuff, that's terrible! :(

    • habee profile image
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      Holle Abee 6 years ago from Georgia

      Sunh Lee, does that mean you're thinging about making a loan or getting a loan? lol

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      Kimberly, lots of folks feel the same as you do.

    • Sa`ge profile image

      Sa`ge 6 years ago from Barefoot Island

      I have only two rule about loans. First of all I do not make get one unless it is an emergency and i can pay it back within a week. and this is for sure knowing that i can and will. which means i rarely have any need to in my life time. The second concerns me loaning out to others, if I have enough to loan out with out even thinking of getting it back, then I will, If I have to even think of when i will get it back then NO, is the answer.

      Never loan any money out if you even have to think about getting it back! Plain and simple, you will never regret giving out the money. and if you get any back, well you will be extremely happy about it. :D aloha

    • Hound Cat profile image

      Hound Cat 6 years ago from Los Angeles area of Southern California USA

      I just finished a Hub on lending to friends. For me I do not recommend it. I really was given some excellent advice by you on who to lend to, if at all. Keep your lending amongst friends you know well. Sage advice! My older brother always seemed to be lending acquaintances money. They always owed him something right up to his death in 2/2008.

    • DavitosanX profile image

      DavitosanX 6 years ago

      Wow! Congratulations on this hub! It has been really popular. In this topic I would simply say: Don't lend money that you can't afford to lose.

    • myhoppest tool profile image

      myhoppest tool 6 years ago

      Amazing post.I like to read your article.Anyway,thanks a lot for the work

    • profile image

      beautifuldill 6 years ago

      Ladies and gentlemen of the jury i wish to fathom wid you that march 1st does NOT exsist. it needs to be replaced wid feb. 29th THEN skip 2 march 2nd. here's YYYYYY. march is the third month in DA year (3), if you skip march 1st you get march 2nd (2). 3-2= 1 (1). the numbers r in descending order 3,2,1. not to mention the 29th has DA numbers 2 and 9 2+9= 11, wut year ish it?? 2011!!! Fathom me that richie!!

    • Chris Crow profile image

      Chris Crow 6 years ago

      Tough question. Great hub.

    • bloggering profile image

      bloggering 6 years ago from Southern California

      Great hub! I personally don't think you should. It will change the dynamics of the relationship. You'll also find out who your true friends are pretty fast if they resent you for not lending them money. Parents lending money is okay if it's a real emergency.

    • profile image

      talktofast 6 years ago from England

      if a friend asks to borrow money i feel bad refusing to help but at the same time why should i ? The friend is only short of cash because he lent money to someone else, who then did not pay him back on time. He then got a £30 fine from his bank for a missed direct debit due to insufficient funds in his account. Im usually laughing at this point as i remember all the the times so called friends borrow a small amount of money only never to return it. Those days are gone and im offended if anybody asks to borrow from me these days. But if there are any hubbers who would like to send me £50 notes on the understanding that it will never be returned more the fool you.

    • Jenny Calender profile image

      Jenny Calender 6 years ago

      Always expect to "not" get the money back, and you'll be OK.

    • Harshit Singhal profile image

      Harshit Singhal 6 years ago from The Land of Spices

      An interesting and thought provoking hub.

    • profile image

      Ashley 6 years ago

      I loaned a friend 3,000 for school. Never saw that money again. Should have gotten it down in writing. Never saw the friend again either. Guess that's what happens when you are young and naïve. Best 3,000 I've ever spent. I learned a lot from that!

    • stripedcandy profile image

      stripedcandy 6 years ago from Canada

      A classic debate. It's hard to say no at times, but sometimes it needs to be done.

    • cheerfulnuts profile image

      cheerfulnuts 6 years ago from Manila, Philippines

      Great advice! Thanks for sharing.

    • profile image

      ranger2010 6 years ago

      Great advice. Its wonderfoul

    • azurahalla profile image

      azurahalla 6 years ago

      Great hub, thanks for sharing.

    • profile image

      WilliamKovacs 6 years ago

      I have a friend who's an attorney and he says, "If you can't afford to give it away don't lend it!"

      quote and I agree. Never loan out what you cannot afoord to lose.

    • profile image

      beautifuldill 6 years ago

      Dont any of you care about March 1st???

    • SaraMarieJames profile image

      SaraMarieJames 6 years ago from Louisville, Kentucky

      I've had friends who have loaned money to other friends and it didn't end up well. I think it's a bad idea all together. Money is one of those things that can ruin a friendship.

    • aefrancisco profile image

      aefrancisco 6 years ago from somewhere down the road

      This is great! Its really better to give than just to receive. :)

      Thanks for the hub :)

    • profile image

      jadajacoby1 6 years ago from malaysia

      thank for this hub.. it great for me..

    • ubalildon profile image

      ubalildon 6 years ago

      i can only loan money to a friend if i trust him

    • The Frog Prince profile image

      The Frog Prince 6 years ago from Arlington, TX

      Excellent advice and well written.

      The old adage about not doing business with family or friends bleeds over into don't become the bank for them either. If things go south, it's never a pretty sight.

      Up and away.

      The Frog Prince

    • ironbutler profile image

      ironbutler 6 years ago from Weaverville, NC

      i agree with imatellmuva lending money espcially with your friends is something you shouldn't do it ruins friendships far to easily

    • joiledireks profile image

      joiledireks 6 years ago

      Never load money to a friend. I would even include family members as well.

      If it seems like there is a good reason or exception, then in that case - DO NOT loan money to a friend (or family member)!!!

    • profile image

      Elena 6 years ago

      I would loan to friends and family members who are dependable and trustworthy. It is when you loan to friends and familty members who are not, can cause problems and mar relationships.

    • tigerman55 profile image

      tigerman55 6 years ago from Kemer, Antalya, Turkey

      I trusted what I thought was my best friend in Turkey where I live, but he turned out to be nothing more than a conman who cheated his friends, wife and family. Due to my foolishly trusting him and not knowing Turkish law I have lost not only all my money but my car as well. When I lent him money he gave me cheques to cover the money I had lent him. what I later found out was that Turkish cheques are only valid from 10 days of the date on them. He had told me that he was divorced from his wife and had a big settlement coming to him, which ? thought was a guarantee that I would have no problem getting back my money. He became engaged to a very nice girl who like me was shocked when it later came out that he was still married to his wife. So in view of my experience I recommend not lending money to people that you think are friends.

    • EnjoyYourLife profile image

      EnjoyYourLife 6 years ago from New York

      You've hit the nail on the head regarding this sometimes sticky issue. Thanks for a great hub!

      Janet

    • profile image

      Deprem Sigortası 6 years ago

      Deprem Sigortas? Hesaplama

    • tigerman55 profile image

      tigerman55 6 years ago from Kemer, Antalya, Turkey

      Unfortunately I found out the hard way

    • doodlebugs profile image

      doodlebugs 6 years ago from Southwest

      Loaning to friends when proper rules are set forth is one of the kindest things you can do. It can backfire though, but I'd rather help someone in need and take the chance.

    • tigerman55 profile image

      tigerman55 6 years ago from Kemer, Antalya, Turkey

      I thought my friend was in need, but he just wanted to get money from me without any intention of paying it back. He did not need the money that I lent him, what he did with the money he cheated from his friends and his wife and family is unknown. He is young enough to start again, whereas I am too old to do so and so have to suffer for the rest of my life.

    • ewd76 profile image

      ewd76 6 years ago from Hanover, VA

      I'm not your friend, can you give me some money?

      Seriously though, good, informative post.

    • navasri123 profile image

      navasri123 6 years ago

      G reat hub.. given good advice... but this not always works....

    • rontlog profile image

      rontlog 6 years ago from England

      When I had no money, no-one ever asked me for a loan.

      Several years ago, my husband and I sold a house for a small profit, and put the money in the bank for a short while. We never told anyone how much we had but within a short while several family members approached us for loans.

      The experience has been an interesting one and you learn a lot about your family, the basis of your relationships with them and their own relationship with money.

      Here's what I learnt about my family and relationships

      The speculator/gambler - my brother-in-law

      My brother-in-law is always on the look out for the next get rich quick idea. He started asking for small amounts of money, which we lent him and he repaid, but we had to say no when he wanted to borrow £20,000 for a house in Thailand which he was having built and was hoping to sell for a profit. Although we would have shared in the profit we felt it was too risky for us. We were proved right, shortly after saying no, the Thai Tsunami hit and it took him ages to sell the house.

      I trust him to repay small amounts of money, but his larger requests were too riky for me.

      Abusive relationships.

      If any of your relationships are in the slightest bit abusive do not tell them about any money you have.

      The abuser has a sense of entitlement and will see your money as their money. They will use any trick in the book to get their hands on your money.

      It is very hard to stand your ground and continue to say no to someone who is getting verbally and physically abusive when the you won't let them have access to your money.

      One member of my family, who has been verbally and emotionally abusive towards me in the past, wanted to borrow £16000 for a valid reason. I said yes as long as it was in writing. They became verbally abusive and tried to make me feel guilty for not trusting them. I stood my ground and they got a loan from the bank instead. However, they continued to try to make me feel guilty about it.

      Another family member has been verbally abusive towards me in the past and a couple of years ago kicked me when she got in rage and couldn't get her own way. She has asked me three times to lend her money, each time the amount gets bigger. Each time I say no. I don't want any financial involvement with her. I just said it was difficult to access the money as it was in a notice account and I would lose any interest.

      The last time she asked for money, she wanted to borrow £1000 to visit family in Australia. Again I said it was difficult to get hold of the money but the real reasons were a) because she is abusive towards me and b) I knew she has £500 in savings bonds which she could use and and has a credit card which she could use for the other £500.

      True to form she went ballistic and subjected me to a barrage of verbal abuse and emotional blackmail. I stood my ground and she has never asked me for money since.

      She has since inherited some money so can afford that trip to Australia, but suprise suprise has not yet gone.

      So the lessons I have learnt are, whilst I would help someone out if I felt they were really desperate, I would never tell anyone I any spare money.

      If someone really needs money, they can go to the bank for a loan. If a bank won't lend to them because they are too risky why should you?

    • habee profile image
      Author

      Holle Abee 6 years ago from Georgia

      dstn, can I be your friend??

    • habee profile image
      Author

      Holle Abee 5 years ago from Georgia

      Good idea, sreekumar!

    • habee profile image
      Author

      Holle Abee 5 years ago from Georgia

      Taxinfo, thanks for your input!

    • Ken Barton profile image

      Ken Barton 5 years ago

      My recommendation is to never loan to friend or family; rather, give with a generous heart expecting nothing in return. Give from your heart and let the Lord bless you in return instead.

    • habee profile image
      Author

      Holle Abee 5 years ago from Georgia

      Doodlebugs, I feel the same way!

    • DevBlue profile image

      DevBlue 5 years ago from Mauritius

      Good Hub. I have had bad experiences in the past on lending money to relatives. I had a lot of difficulty to get the money back and in the process became their enemies. Now my philosophy is to lend very small sum of money to needy people and in my mind I consider it as a grant. I therefore do not get annoyed If I do not get the money back.

    • habee profile image
      Author

      Holle Abee 5 years ago from Georgia

      Thanks a bunch, Jamie!

    • habee profile image
      Author

      Holle Abee 5 years ago from Georgia

      Aloha, Sage! Thanks for adding!

    • habee profile image
      Author

      Holle Abee 5 years ago from Georgia

      Hound Cat, that's sad. He must have had a big heart.

      Ahmiz, thanks a lot for reading and commenting!

    • habee profile image
      Author

      Holle Abee 5 years ago from Georgia

      Davit, I've been pleasantly surprised at the hub's popularity!

    • acaetnna profile image

      acaetnna 5 years ago from Guildford

      Always a tricky subject but you have covered it brilliantly. I would love to be able to give as a gift and not ask for the loan back.

    • profile image

      c-bless 5 years ago

      Fabulous info in this hub; it was a very good read. A friend once borrow some $$ and actually drew up the repayment contract. It worked out well. Generally, when someone ask and I have it, I give with the expectation of not getting it back. No stress. If it hurts my heart to give it, then I say "no". No stress.

    • habee profile image
      Author

      Holle Abee 5 years ago from Georgia

      Myhoppest tool, thanks a bunch!

    • habee profile image
      Author

      Holle Abee 5 years ago from Georgia

      Lol, Dill!

      Chris, thanks for visiting!

    • habee profile image
      Author

      Holle Abee 5 years ago from Georgia

      boggering, thanks for your input! My kids are always getting a loan from me, but they always pay me back.

    • habee profile image
      Author

      Holle Abee 5 years ago from Georgia

      Lol, talktofast! Let me know how many hubbers send you $!

    • habee profile image
      Author

      Holle Abee 5 years ago from Georgia

      Jenny, excellent advice!

    • habee profile image
      Author

      Holle Abee 5 years ago from Georgia

      Thanks, Harshit!

      Ashley, sorry you had a bad experience with personal loans.

    • KateWest profile image

      KateWest 5 years ago from Los Angeles, CA

      Well done.

    • myi4u profile image

      myi4u 5 years ago from United Kingdom

      To me, anything related to money is kind of tricky or risky. I still have that kind of thinking where you won't see either your money or your friend after a loan is given out. What you have said is also right as it depends on the kind of friends who need a loan from you as well as the urgency.

    • LRCBlogger profile image

      LRCBlogger 5 years ago

      Great advice on what can certainly be a tough situation.

    • ravenlt04 profile image

      ravenlt04 5 years ago from Atlanta, GA

      Very thorough advice about loaning money and great investment advice!

    • Ddraigcoch profile image

      Emma 5 years ago from UK

      Great hub. My experience is friends soon upset you when they owe you money. Especially when the terms are changed to suit them and screw you!

    • CZCZCZ profile image

      CZCZCZ 5 years ago from Oregon

      Great write up, friends and money can be a tough item and you provide a great overview of ways to help make sure it works, thanks.

    • Balinese profile image

      Balinese 5 years ago from Ireland

      i used hard to say no when my friend want loan from me - and take me so long to get back my money - so i learned form my experience to NO - and give some money if i have as a gift not to all friends- only my best friend i can do that.

      i dont want to lose my friends as i can not buy friends .

      explain to them - and try not to fall out .

      great hub

      thanks

    • WorkAtHomeGal profile image

      WorkAtHomeGal 5 years ago from Nova Scotia, Canada

      This is an excellent hub and very informative! Thank you. I just wanted to throw in that my best friend of 15 years borrowed money from me and still hasn't paid it back. Its been 3 years but I let it slid because he is between jobs.

      It has caused trust issues and a huge rift between us though, I don't think our friendship will ever be the same. It doesn't make you a BAD person to say no, some people should just never be lent money to begin with.

    • profile image

      nerncybaby1986 5 years ago

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      My name is nerncy (single). I was impressed when i saw your profile today and i will like to establish a long lasting relationship with you. In addition,i will like you to reply me through this my private e-mail box(nerncy2002 @ yahoo.co.uk) I will send to you my pictures in my next mail Thanks waiting to hear from you soon.

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    • TerryXu profile image

      TerryXu 5 years ago from New York

      Good advice !I think I know how to do when it happen . Thanks ?

    • anusha15 profile image

      Anusha Jain 5 years ago from Delhi, India

      Well, I think you could never loose a friend by giving a loan. If the person was ever a true friend, s/he will make sure that the loan is returned, except for some unavoidable situation causing delay. So I agree with you, one should help friends, but be open and honest about conditions. False assumptions and communication gaps cause you friend. After all, friend in need a friend indeed.

    • Drew Breezzy profile image

      Drew Breezzy 5 years ago from somewhere in my mind

      My philosophy when loaning money is if you lend someone money, don't expect to get it back.

    • Thek1ngsway profile image

      Thek1ngsway 5 years ago

      The more money you make the less value it has . If your poorer friend wants to borrow money and he has a good reason for that that if you give him the money , it will rise in value .

      I think the borrowing money its not the end of the world . You can borrow from the bank , but than again there are certain situation when that might not be the best solution (when you need the money urgently etc etc)

    • habee profile image
      Author

      Holle Abee 5 years ago from Georgia

      I agree, Candy!

      Thanks, cheerfulnuts and ranger!

    • habee profile image
      Author

      Holle Abee 5 years ago from Georgia

      Funny, Scott, but sad.

      Spirit, thanks for reading!

    • Bud Gallant profile image

      Bud Gallant 5 years ago from Hamilton, Ontario, Canada

      Very good hub. I've been in this situation myself. I definitely think it can work, but I'd try to avoid any large amounts personally. This is a good guide for those who are going to take their chances.

    • Limeline99 profile image

      Limeline99 5 years ago from South Carolina

      I always lend folks money because I never know when I will be in a bind and they will have to lend me some money. Problem is, I am too proud to ask for help when I need it!

    • profile image

      RP1010 5 years ago from United Kingdom

      I have lent money to friends in the past and I think that if you are lending money to a friend you have to ultimately be prepared to write the money off.

      Would you rather lose a friend or the money - difficult one because some friendships are worth more than money! Of course a true friend would always intend on paying the money back even if it took some period of time to do so.

      I'm currently owed about 2k from a friend but he is having a difficult time so I have told him to suspend repaying me for the time being and we'll review it in a month or two.

    • Miss Paula profile image

      Miss Paula 5 years ago

      very interesting, this can be a sticky subject, I vote you up.

    • raystine profile image

      raystine 5 years ago

      I agree! I'm always a sucker for lending people money though and it hasn't ended too well..Money and friendship don't always mix and can make things awkward if the worst happens.

    • ripplemaker profile image

      Michelle Simtoco 5 years ago from Cebu, Philippines

      Hmmm let me see, when I lent a friend some money she got offended that I couldn't let her borrow the entire amount she needed. She never paid me for the money that she owed me. :(

    • cmdugan profile image

      Cory Dugan 5 years ago from Arlington, TX

      I think a good rule of thumb is if you loan money to family or friends you have to think of it as a donation, and if they are good and pay you back it's a bonus.

    • radavis profile image

      radavis 5 years ago from New Oxford, Pennsylvania

      Great Hub! Great advice.

    • katiedid101 profile image

      katiedid101 5 years ago from Rural Iowa

      I really think that you have given some good advice on this topic. It is so hard to determine whether lending money to a friend is wise, but if you know they have been honest and trustworthy, you can give a shot. Now family on the other hand.... Great Hub!

    • cephla profile image

      cephla 5 years ago from India

      Interesting hub. You've offered some really good advise. I myself stay away from loaning money to people I know. It really hasn't ended well for me in the past.

    • peterhark69 profile image

      peterhark69 5 years ago from Canada

      Great tips you got here. Really some very good advise you shared in here. I have been allowing some friends in the past to loan money but unfortunately, few of them didn't really pay back. After reading this, I know I was to blame myself because I trusted the friend so much that we didn't make any terms. Really great hub!

    • Luzi Carbon-dean profile image

      Luzi Carbon-dean 5 years ago

      Great comments are found here. Thank you. I found the answers to my question. Honest answers indeed!.

    • profile image

      melanie 5 years ago

      I've always found myself in the situation of being the one who needed the funds; though perhaps thats because I'm single, my parents are dead, and I have no family support or friends except for one son.

      I do now have in my life a return boyfriend from my youth; he loans me money and I always pay him back, and my son, who has more money that I do also loans it to me and of course I pay him back; the hard thing comes though when you keep running into issues-- people get tired of loaning you money- even if you do pay it back regularly and timely; they start feeling used or start treating you badly for always needing assistance.

      I'm also on disability and limited income and continuously try to better myself, but i start feeling worse and worse about myself for depending upon family and my boyfriend-- even if I make every effort to pay them... it really erodes your self esteem after awhile.

    • cblack profile image

      cblack 5 years ago from a beach somewhere

      Sometimes you just have to cut people off. My sister for example, I can't give her money because she will blow it partying. But if she doesn't have a place to sleep then I will buy her a hotel room. She is not getting the cash though!

    • blairtracy profile image

      blairtracy 5 years ago from Canada

      Great advice. Thanks for writing this hub.

    • Eileen Goodall profile image

      Eileen Goodall 5 years ago from Buckinghamshire, England

      I have loaned money to a number of friends that are no longer friends - either because they had no intention of ever paying me back and have disappeared, or they can't afford to pay me back, at which point I don't want it from them, and they're too embarrassed to face me even though I never mention it. I mourn the loss of latter and relinquish the former to their own karma.

    • VENZKHVAM profile image

      VENZKHVAM 5 years ago from Milk way galaxy, trying to find a more adventurous place in another galaxy with my great followers

      Habee,

      Never ever give it to any body. If at all you are planning to give then do think that it is given for charity dont expect it back. if you expect your friendship or any other relatiuon you have is gone.,

    • Luzi Carbon-dean profile image

      Luzi Carbon-dean 5 years ago

      All this being said and done, means I have lost both and I could say, that my own experiences has taught me well and in a hard way. It hurts so much that the people I loved and cared the most hurts me in such a way that I as a person is afraid to trust anyone again. One said, Hey it's only money and as long as you are alive you can always see it or find it again. In a way yes, I will find it again . The sad part was that, my highly unspoken trust went with it. I am a good person. I believed other's are too. But to not see nor hear from a friend or family after a good deed was done deeply violated the person that I am. Trust and respect, values and principles combined. None was done in writing because you trusted this person so much as they have trusted you from the very beginning. Truth hurts but this is what it is for now. I have to live with it. Thank you, Eileen Goodall.

    • LailaK profile image

      LailaK 5 years ago from Atlanta, Georgia

      Very Very helpful!!! Thanks. Ohhh, and I love your mentioning of Hamlet!

    • Rachelle Williams profile image

      Rachelle Williams 5 years ago from Tempe, AZ

      No, never, nada, nyet! Loaning money to a friend is probably one of the best ways to lose a friend.

    • DIY Backlinks profile image

      DIY Backlinks 5 years ago

      Loaning money to my friends has always caused them to get

      amnesia so I don't do it anymore lol.

    • Victoria Lynn profile image

      Vicki L Hodges 5 years ago from Arkansas, USA

      I've been fortunate in that I've always gotten the money back, but it did cause some uncomfortableness in the relationship at time. If you do it, get a check for the money up front dated at a time in the future that they plan to pay you back. That way, you can help out a friend, but you know when you'll get the money back. I just did that with a friend, and it worked beautifully.

    • georgescifo profile image

      georgescifo 5 years ago from India

      IMO, we should never load money to friends or relatives as this may harm your relationship in one war or other...in the same way, we should also try to take loan from relatives or friends...

    • furrypetsparadise profile image

      furrypetsparadise 5 years ago

      good info

    • profile image

      wanjikuG 5 years ago

      Thanks so much for this!! I should have read before I gave my cousin 700€ :(

    • SportsAgencyblog profile image

      SportsAgencyblog 5 years ago from Los Angeles, California

      I think it is not practical to loan money to a friend unless you have a lot of it to pay back when they fail to pay it.

    • bjornborgboxers profile image

      bjornborgboxers 5 years ago from The Netherlands

      This is always a tough question/situation. You wish to help and support your friends, but you don't want money to get in the way.

      The same way you should never try to make money from your closest friends/relatives

    • BethanRose profile image

      BethanRose 5 years ago from South Wales

      A helpful hub that outlines some key concepts to loaning money to friends. This will be helpful for me and many other people, voted up!

    • cashmere profile image

      cashmere 5 years ago from India

      I don't think its ever a good idea to lend money to a friend. Keep friendship and business separate. Its never a good idea to mix the two

    • cactustze profile image

      cactustze 5 years ago

      Useful tips! great...

    • K9keystrokes profile image

      India Arnold 5 years ago from Northern, California

      habee, I wish I had this hub to read a few years ago when I loaned a friend (a 20 year friendship friend)a substantial amount of money...5 digit money. I never once asked for it back or pressured the lendee for payment, the friendship to me was more important. But, as the economy degraded and the reality of being able to pay the loan back became totally unreal, unfortunately no mater how I reassured my friend all was okay, she stopped making contact and the friendship split. Guilt is an awfully big thing to overcome. Today, I really could use the money, but I often call and just say hi never mentioning the money. My hope would be to mend the friendship and just pretend the loan never happened. But my friends pride is much larger than her heart. Sad really. I bear no ill will, only love for her. She is missed in my life and I just wish money was NOT such a creator of negative outcome. I feel really awful that a good deed ended a good friendship. Lesson learned!

      Nice hub!

      Cheers~

      K9

    • profile image

      Sigorta Hesaplama 5 years ago

      sigorta hesaplama good work sigorta hesaplama

    • JLBender profile image

      JLBender 5 years ago from Greensburg, PA

      Great hub. I wish I would have read this a few years ago. I lent a small loan to a friend and he still has not paid me back.

    • AUPADHYAY profile image

      ANIL KUMAR UPADHYAY 5 years ago from INDIA, UTTAR PRADESH STATE, KANPUR CITY

      A friendship remains always unbreakable when the transaction of money took place in any shape between the friends, always be considered in a manner that one should help or give loan to other without it's recovery in a definite time. The other should also remember the amount of loan to be returned back when the friend is in need. This is the aspect of a true friendship but in this era of almost polluted friendship, the definition of principles of a true friendship is changed.

    • profile image

      Sarah Daniels 5 years ago

      Going through wasn't really easy for me knowing my husband was lying sick in the hospital an there was nothing i could do to help since i had already gone bankrupt as a result of paying the rents, bills, tax, and fees. but thanks to a friend who actually introduced me to one Mr David O'Brian who then lend me some money to carry on.i think you guys should help me to thank God and do contact him if you are in need of some loan,contact him at oceaninternationalloans@gmail.com

    • profile image

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    • skgrao profile image

      S K G Rao. 5 years ago from Bangalore City - INDIA.

      3% to 10% per month here in India,are you saying it is per month or year ?.

    • firdousi0 profile image

      Fassee Ullah 5 years ago from Pakistan

      Though my person experience to lend some money is not quite good, but I really like your advice. If I have 100 bucks, there should not be any hesitation for me to give 25/30 out of them to help my friend and that should be interest bearing. Think, if you don't help your best friends, he will be compelled to get interest bearing loan, which ultimately deteriorate his financial position. I Islam usury is unlawful. A scholar was asked by somebody, " I have lots of friends and I want to get rid of them. What should I do?" He replied, "Lend the poorer and request richer to lend you some money."

    • maxravi profile image

      Ravi Singh 5 years ago from India

      Thanks for this hub.nice topic.well I personally not in favor of giving loan to a friend until he is close one.same way I avoid taking loan from friend.voted up for this hub!

    • maxravi profile image

      Ravi Singh 5 years ago from India

      Thanks for this hub.nice topic.well I personally not in favor of giving loan to a friend until he is close one.same way I avoid taking loan from friend.voted up for this hub!

    • profile image

      Trudy 5 years ago

      It's very sad that the people closest to us...our friends and family are the one's we should not trust when it comes to money. Just goes to show that when people make no effort to repay a kind loan then they were never true friends or family.

      I expect all loans to be repaid because it shows you are a trustworthy friend. If you choose not to pay me back then the money became more important to you than our friendship to keep your word. We are no longer friends if I cannot trust you.

    • IJR112 profile image

      IJR112 5 years ago

      I wouldn't loan money to a friend. I've heard of a couple of bad experiences and I wouldn't want to put my friendships in jeopardy.

    • profile image

      privatelender 5 years ago

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    • Pamela N Red profile image

      Pamela N Red 5 years ago from Oklahoma

      Looks like you have a few spammers here.

      I've also loaned money to close friends and relatives not expecting it to be repaid. Some have anyway. Like you say we have to treat each individual situation differently.

    • L.L. Woodard profile image

      L.L. Woodard 5 years ago from Oklahoma City

      I think you have the right idea about giving money to a friend -- if you have it and know they are not in a position to repay. Many times, this type of person will go out of their way to do other things, too, to demonstrate their appreciation of your actions and of your friendship.

      Voted up and SHARED.

    • editorsupremo profile image

      editorsupremo 5 years ago from London, England

      It definitely depends on who you are giving the loan to, but sometimes the person to whom you are lending may turn out not to be the person you thought they were!

      & why is it that when a friend who has not repaid a loan, say six months after the due repayment date, that the lender is the one who feels bad about asking when they will get their own money back? I've experienced that, and in the end I just let it go and left it to their conscience. A year later, somehow they remembered they owed me and paid me back. No interest though!

    • DeviousOne profile image

      DeviousOne 5 years ago from Sydney, Australia

      I think it depends on how well you can trust the person. There were people in high school who would always be borrowing money off other students for lunch with the promise to pay them back. At the end of the day, nothing was returned. For all those who do loan out money, make sure you know who you're giving it to. Great hub.

    • phteh profile image

      phteh 5 years ago from Georgetown

      Good hub, I have loan money to friends before and 90% of the time the money never comes back!

    • Iampankaj profile image

      Iampankaj 5 years ago from Bangalore

      Hi Habee,

      A very nice hub on a very tricky topic.

      Most of the times I have also given money to friends when they were in need. But when I ask them for returning the same, they responded in a different manner. their tone of speech also changed. When it comes to paying money to any friend it is an emotional decision. But the way you have expalined this topic is really appreciated. This is a very helpful hub. Thanks for this.

    • profile image

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      For loans visit www.2apply4cash.co.cc

    • princesswithapen profile image

      princesswithapen 5 years ago

      In one way or another we've all been burnt when the issue of money finds a spot in the near perfect world and concept of friendship. This hub can be a subtle reminder to everyone about some of the things that can go wrong when money exchanges hands; the hands of two friends.

      Princesswithapen

    • louromano profile image

      louromano 5 years ago

      An interesting and thought provoking hub.

    • profile image

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    • dobo700 profile image

      dobo700 4 years ago from Australia

      I have always been told don't mix friends, family and finance

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