Today’s topic is very interesting to me – money and friends. My question is, do they go together? Do you lend money to friends?
Yes, I have lent money to friends and sometimes it has worked out and sometimes it hasn’t.
When I lend money to someone it is based on a couple of things:
- How well do I know the person?
- Have I lent them money before?
- If they don’t pay me back, will the money be missed?
I don’t always ask why they need the money or what they’re using it for. Typically if I lend money to someone they are a very close friend and they will have volunteered that information.
I never ask anyone to sign an “I Owe You.” The only question I want answered is, when do you expect to pay me back? That’s it and I NEVER bring it up again. I really dislike asking a friend to pay me back. If the deadline comes and goes the responsibility is on them to say something.
I will admit I have been burned in the past but I would still help someone out if they asked and I had the means to do it.
What are your thoughts?
- Have you lent money to your friends?
- Did they pay you back?
- Would you do it again?
- Have you lost any friends because of a bad situation?
I look forward to reading your comments.