Should you let your friends borrow money?

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  1. Omeva profile image72
    Omevaposted 3 years ago

    Should you let your friends borrow money?

    https://usercontent2.hubstatic.com/12465907_f260.jpg

  2. ChristinS profile image94
    ChristinSposted 3 years ago

    Only if you loan it with the acceptance of the fact that it may not be paid back.  If you are doing it as a favor, a gift or act of kindness they yes.  If someone not paying it back would potentially cost you an otherwise good friendship, then no.  Money is a tricky business with family and friends.

    1. kbdressman profile image94
      kbdressmanposted 3 years agoin reply to this

      I completely agree with this answer.  Thanks for typing out exactly what I had planned to say!  I see personal loans I make to family and friends as gifts.  If they want to repay it to maintain their sense of self-reliance and self-sufficiency Great!

  3. liesl5858 profile image89
    liesl5858posted 3 years ago

    I would not let my friend or relations borrow money because sometimes if loans don't get paid, it will cause a lot of stress and hatred or unpleasantness. I used to lend my cousin money when she is short of it but now she does not pay it back so I will stop lending her. She took advantage of my being kind to her and never will I lend her any money at all now. Several times I helped her but when I noticed that she took advantage of me, I will never lend her again. I won't lend and I won't ask for a loan from a friend either.

  4. connorj profile image81
    connorjposted 3 years ago

    https://usercontent1.hubstatic.com/12467036_f260.jpg

    Indeed; yes, if they are truly friends I would not hesitate to lend them money for a period of time at 0 interest. How could one not support a friend in-need?

  5. peachpurple profile image83
    peachpurpleposted 3 years ago

    Nope never because your friend will run away with the money even though you didn`t expect to have the miney return. Its the guilt. I had lost a friend due to this

  6. Tjphilz5 profile image71
    Tjphilz5posted 3 years ago

    I've always had the belief that if you loan something than be prepared to never have that money back. For me it's more of a bonus to get my money back from friends/family I loan money too rather than an expectation.

 
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