Lending money to friends. Yay or Nay?

Question

What do you do when a friend asks you to borrow some money? I am not talking $5-$20 but a few hundred. Do you give it to them hoping they pay you back, knowing they probably wouldn't ask if they didn't really need it?  I can't get the feeling/thought out of my head that the money I gave them won't be seen for some time.

Tatiana · Answer

I love the advice that says only 'lend' money to a friend if you think of it as a gift and expect that it won't be returned. If you can't take that mindset, don't lend your friend money because it will ruin your relationship.

Anonymous · Answer

I was in a similar situation a few years ago and didn't think I'd see the money back either. I think I assumed the worst case scenario (i.e. that the friend wouldn't be able to pay it back) and I had to be willing to lend under that downside scenario. in the end, though, it all worked out and I got paid back! So I get where you're coming from but it may end up better than you expect.

Badgerette · Answer

I made the mistake of loani g my car and $1000.00 to who I thought was a friend.  I even drew up paperwork and had her sign.  She has disappeared and I have no car or the money.  I do not care if my friends have their head cutoff! Lesson learned!

Elizabeth Marie · Answer

What if you gave him/her a date for when you expect to be paid back?

Anonymous · Answer

My friend wanted to start her own company and was asking for money that she would pay me back. We spoke about my money becoming an investment opportunity and now I have a stake in the company she started. It was a win-win for both of us!

Anonymous · Answer

A neighbour, but I did not know them, asked for $40 for two weeks. I gave it to her. She sounded so desperate. Before the time limit was up, the money was returned. It caused me some concern at the time, because we are retired and well, what was this leading up to. But she returned the money in good order and I felt it was worth the risk and now happy to have helped her out.

Lending money to friends. Yay or Nay?

You're invited.

See what women are sharing on Fairygodboss.