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Risk of lending a money to a friend
#31
(01-15-2018, 11:09 AM)Heart Wrote: This topic just came up to me since my inbox is in full blast right now. I think this is the only role I have to my friends or this is the only reason why I have friends. It's sad that most of my friends have there debts or will only remember me whenever they need money. The saddest part is I have never experienced being paid. Sometimes I wish they just ask me to give them the money for free that way I didn't have to hope for the payments, right? Because it is my trust that is being ripped everytime they are doing that. Lending money to a friend means it has no interest since you are willing and considering it as a help. But what if they didn't pay you? This is actually the main reason why I chose other alternative loans than borrowing money to anyone I know personally since I will never know what might happen if I didn't pay it on time because its more than the money it is your relationship with that person that is at risk.

(01-17-2018, 08:11 AM)Uyj143 Wrote: For me it is very okay to barrow money to your friends as you've said it is your friend, its good to Barrow money to your friend or your friend barrow money to you.

It should be "Borrow" not "Barrow".
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#32
(01-22-2018, 09:26 PM)AmieBotella Wrote: Lending money to friends or relatives are difficult to decline in my experience, especially when you know you can lend some. However, you may consider thinking that for a close friend, this can just be a gift and never expect to be paid. For large amounts, that comes from your savings, I think it is wise to treat it as a business deal. The friend benefit you can give is the 'no interest' clause. But if it's a large amount, you need to be clear when your friend can pay it. It is also your hard earned money and there is a reason you're saving it. And it's definitely not for free giving. So treat the impending problem early on by making clear on this. That you may need the money in the future and make sure that the friend will return it.

Do not be afraid to ask for it when your agreed time comes. When you detach the emotions, it is, just right to ask for it.

And lastly, do not feel bad that they only remember you when things got so tough for them. Just think that in their times of darkness, you're the person they think off that will help them get through a problem. That you're a reliable person and a good friend. Just always take note the difference of being a helpful friend to an enabler of a stubborn friend.

It's true that declining to help out your close relative or relations is very hard, which is why I don't say no or yes completely to their request. Take for instance should my relatives or relations be seeking a loan of $300 to be paid back in a 5 months. Instead of lending him the full $300 and have stories at the time I'm to get the payment back from him, I would simply give him $100 as a grant and move away from any issues that would come up should he default from paying me back as and at when due. I have had a serious experience with one who never paid me and was willing to make issues with me over it.
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#33
@Martinsx I like your idea! That way you help them in your own terms. Great! I will have to consider this.
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#34
For me its good but sometimes is bad because when they ask a problem you pay them but if you lend them sometimes they not pay you because of they called friend a special friend. so sad.
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#35
Why shouldn’t we lend money to friends and family? Polonius answers that in his next line: “For loan oft loses both itself and friend.” Polonius knew that a loan to a friend or family member often results in the loss of both the money and the relationship.

In fact, loans between family members or friends can result in an entirely unexpected set of problems. Consider the following 10 reasons not to lend money to friends and family, and some tips to help you with damage control if you do agree to loan money.

Why You Shouldn’t Lend Money to Family & Friends
I have lent money to friends and family members and borrowed money from family members and friends, and neither situation worked out very well.

I learned a lot from both experiences. Most importantly, I learned that I’ll never loan money to friend or family member again, for the reasons outlined here. If you’ve already decided to loan money to someone close to you, here are some tips to help you mitigate some potential areas for communication breakdowns.
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