How to Say No to a Friend Asking to Borrow Money?

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  1. Shil1978 profile image92
    Shil1978posted 9 years ago

    How to Say No to a Friend Asking to Borrow Money?

  2. Dawn Conklin profile image80
    Dawn Conklinposted 9 years ago

    I would tell them that you do not have the extra money to lend out.  If you have plenty of money and they know this, you can explain to them that you do not lend money out.  Maybe tell them sorry but that you have had an experience in the past where somebody did not pay you back and you do not choose to lend money out to anybody. 
    I personally never lend money out.  I have given money in different situations but it was not expected to be paid back.

  3. sgbrown profile image95
    sgbrownposted 9 years ago

    My opinion here .... if you friend is a true friend, they will only ask for money from you if they are really in need.  If a true friend asks me for a loan, and I have it, I will loan it to them, being their true friend.  My husband and I just last week loaned a friend in need $1,100. He is a true friend and was in need and we have faith that he will pay us back as soon as he can. 

    You first need to decide if the person is really in need of this money and if you are willing to possibly not get it back. If I feel that this person is not in real need of this loan, I just tell them I do not have the money to loan right now and see if I can help them find away out of their situation without borrowing the money.

  4. MickS profile image60
    MickSposted 9 years ago

    Say 'no'. -----------------------------------------------------------------------

  5. ChristinS profile image44
    ChristinSposted 9 years ago

    If a friend has an emergency and is in need I help them to the best of my ability.  I know that my friends would do the same for me.  I also know that I keep friends who would not stiff me or never pay me back. 

    there are more important things in life than money - true friendship and people you can count on being among them. 

    If I truly did not have it at the time I would tell them - "Although I'd really love to help you out I simply do not have enough at this time to do so - is there anything else I can do to help?"

  6. arksys profile image90
    arksysposted 9 years ago

    if i know my friend will pay back whenever they have the money then they ask and i give. i never ask what they need it for because, honestly its none of my business. all i see is a friend needs money for something and i need to be there for him/her no matter what. sometimes they pay back and sometimes they dont... its only money so i don't bother asking for it unless i'm in the pit myself. sometimes it feels great to get back some cash when you've forgotten all about it... just like when you find some money in your old jeans. smile

  7. cheaptoys profile image60
    cheaptoysposted 9 years ago

    u can also lend him just a little bit and not the full amount and say you dont have money

  8. jacqui2011 profile image80
    jacqui2011posted 9 years ago

    If a friend was in trouble and needed money then I probably would lend it, as I know I could trust them and it would be repaid. If I didn't want to lend them money, I would probably say that I was a bit short of cash myself and couldn't afford let them borrow any money.

    Someone I know at work lent their friend £500 at Christmas. They had been friends for a few years and promised to pay the money back at £100 per month. She repaid £100 and refused to pay any more money towards it, saying that it was a gift. My colleague went to the police, but they said that there was no written agreement in place and therefore, there is nothing they can do.

    What I would say is that if it is a large amount of money, get a written agreement. At least if you had to pursue it, you have evidence that it was a loan.

  9. AnnaCia profile image79
    AnnaCiaposted 9 years ago

    I always tell myself that whenever I lend money, it is my choice.  I cannot expect for repayment because it might never happen.  Only, if I really know how that person is and that his or her situation is not an USUAL one, then ill help in some way.  I have had times when I had to say no, and I do not have to engage in a discussion on why not.

  10. LauFrances profile image60
    LauFrancesposted 9 years ago

    If it is a case of you not being able to afford to allow them to borrow the money then it is reasonable to say as such. If you however, do not wish to as you cannot trust them to pay you back say that you only have a small amount at that moment, give them that amount and tell them that you expect to have it paid back by a certain time. If they do this then you can trust them and give them money in the future if necessary. Alternatively you could say you're very sorry but you can't and then enthusiastically help them raise money through a car boot sale or ebay or something, that way no offence is taken or guilt felt.

  11. Rokasg profile image60
    Rokasgposted 9 years ago

    If you can lend him money and then let go of it, then do it.
    Otherwise you will lose your friend.

    Anyway, just say that you cannot. If he's good friend of yours,  I believe he should accept it.

  12. MargaretC0923 profile image59
    MargaretC0923posted 9 years ago

    First, you have to think about why they're asking. If they need the money for valid expenses and you just don't have it, be honest and offer any additional help you might be able to provide.
    If you're not sure why they need the money, or you don't trust that they'll pay it back, then explain that you need what money you've got for right now, and don't elaborate.
    Sometimes this question poses longer discussions, and if they're a good friend you should be honest and explain your reasoning. For instance, friends who want to borrow money for drugs should be told that you're not going to fund that type of behavior.
    If this person has borrowed money from you before and didn't pay it back, then give that as your reasoning, and perhaps explain that if they pay you back for last time, you might be more willing to loan money in the future.
    Honestly it's just a gut feeling and your reasoning should follow what you feel is appropriate for the refusal.

  13. Wendy Cockcroft profile image60
    Wendy Cockcroftposted 9 years ago

    Just say "I'm really sorry, but money's too tight at the moment. I was going to ask you if you could help me out..."

    Works like a charm!

  14. ArkaicAngel profile image61
    ArkaicAngelposted 9 years ago

    well if you want to be nice about it you should just say, "sorry I really need this money right now". or you could say that you have had bad experiences lending people money in the past, or you could ... say "no" tongue

  15. Rick74103 profile image59
    Rick74103posted 9 years ago

    The best advice I can give to someone who is thinking about loaning money to a friend is to give it a great deal of thought. Many times over, loaning money to someone who has even the very best intensions of paying you back can sometimes backfire.

    I usually make it a habit of telling any friend that wants to borrow money from me is the plain fact that I don't have the money to lend them. Sometimes I will consider how much is being asked of me and if it is a rather small amount that I can afford to do without, I may lend it out. When it comes to huge amounts, my response is typically an almost always, "No! Sorry."

    One last thing I should mention is that you should never let someone cry on your shoulder and make you feel guilty about loaning them money. Sometimes you will find that a person who is close to you will nearly plead and beg that you turn over your hard earned cash to them just because you are good friends. Believe me, there is no good friendship out there that is worth the price of giving up your hard earnings. However, another thing to consider is what this person really means to you and if you sincerely think that he or she will repay you.

    To sum this all up, if you feel that you have no choice but to loan your good friend some money, keep in mind that you may never seen it paid back. So the big question is: Can you afford to live without that money and will it cause ill feelings between you and your friend if it is never repaid? If you can live with the responses to that question, then you will know what to do.

    Good luck!

  16. FabLiz86 profile image65
    FabLiz86posted 9 years ago

    If a friend needs money and I have it and can afford to live without it I would just give it to him/her.  If I could not afford it, it is not right for me to lend/give money to anyone when I am in no position to do so.  If I do not want to give this person money for whatever reason I simply tell them "No."  Once the "No" is said I can either explain myself or not (depending on the relationship I have).  Obviously, if I care about this person I want to express myself in the most empathetic way possible.  Just say what feels right, from your heart.  If someone is a friend and cares about you he/she will respect your decision.

  17. marshacanada profile image70
    marshacanadaposted 9 years ago

    If it is a very good friend and I can afford to never see the money again I might just give the money with no strings attached and be happy if they pay it back, but not be angry if they don't. If I cant afford just giving it , or if they are not good friends, or if I don't trust the person to pay me back I would say, " I am sorry I cant lend you the money." I have had to do this in the past.

  18. ShalahChayilJOY profile image61
    ShalahChayilJOYposted 9 years ago

    I really don't have any to spare at the moment. Really sorry. Unless you do not care if they pay it back or KNOW they will if you want it back.

  19. profile image50
    Jessie Campbellposted 7 years ago

    This depends on the amount of money and the person who is asking. Of course having a friend owe you large amounts of money and not being reliable can cause a friendship to suffer or even cause a falling out. It would be safer to suggest getting a loan from a bank or credit union instead.


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