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.
Roger Austin says:
I have never lent money to a friend. Never been asked. I think it would be a bad idea but under dire circumstances I would consider it or possibly give them the money.
I have at times when I knew a friend was in trouble and needed help I have given it to the church to give to them so it would be anonymous.
Al (single name) says:
When I was a young man my father used to advise me, “If you loan someone money consider that money gone because you may not get it back.” That wasn’t always the case but I suppose he was basically teaching me to brace myself for non-repayment…just forget about it (although it would be difficult to forget who didn’t repay). We all need some help of some type at some time. Money is just one of those needs. However, a sometimes very divisive need.