Comments on: Lending Money to People

By: patrick

patrick — Wed, 28 Feb 2007 18:34:09 +0000

It’s an iffy subject but, I will not lend a friend money ever again..I lent a friend $100.00 fr last summer(06) and he lives next door to me……And to this day I cannot get my money back. I have reminded him several times only to hear, “I have the money on my desk at work “..Which was a lie.Still is. We are not really friends anymore.

I can afford to lose him as a friend as he is a loser….It’s been almost one year and no money in sight.

By: Monty Loree

Monty Loree — Thu, 21 Jul 2005 02:45:56 +0000

I like what lisa said… Never lend money unless you’re willing to make it a gift.

I don’t lend money often, but from time to time it’s necessary. I just make a mental decision to never see the money. Otherwise that loan might have a chance of ruining the relationship.

Financial Maturity Blog

By: Cap

Cap — Wed, 20 Jul 2005 13:39:00 +0000

wont that be a bit dangerous? my friend says he’s like that, and he lends money out like he’s a money tree.

his solution when they dont pay back is to stop talking to them. hehe. doesnt seem too stable..

By: lisa

lisa — Wed, 20 Jul 2005 04:02:04 +0000

I take my mom’s advice, and treat lended money as a gift. I only ‘lend’ money I’m willing to give, and I don’t expect to ever see it back. I even tell the person, as I’m giving them the money, that they don’t have to pay it back.

One of two things will usually happen: Either they will simply return the favor sometime down the road (“No, let me get lunch, I owe you.”), or they will actually pay it back (at which point I try a few more times to refuse it before actually accepting it).

By: Cap

Cap — Tue, 19 Jul 2005 02:22:41 +0000

jim: so true. I wish I never hand out that $60. i was but a young fool. or rather too trusting.

dan: thats true too, I notice my good friends generally will be good enough friends not to burden me with their financial problems.

By: Dan

Dan — Tue, 19 Jul 2005 00:31:16 +0000

Neither a borrower nor a lender be for loan oft loses both itself and friend.

It was true in the 17th century and it is true today.

By: jim

jim — Mon, 18 Jul 2005 15:25:12 +0000

Yeah, lending money to family is always sticky because unlike a friend that you can “lose,” you can’t really cut all ties with that family member. I always prefer not to lend friends money and never more than like $20… I wouldn’t be lending people $60 especially back in college, I probably didn’t even have $60 on hand to lend out. :)