I rather give money away then lend it out because I hate it so much to ask for it back. Does anyone have some good or bad experiences with lending out money to friends ?
2006-07-31 20:33:09 · 28 answers · asked by meiguanxi :) 4 in Family & Relationships ➔ Friends
i never lend money to friends... if i have it and can afford to, i will give them money, if they return it some time in the future, then that is a bonus. expecting it to be returned will ruin the friendship.
make sure though that the friend you are giving money to will use it wisely. if they jsut want it to spend on frivilous things or alcohol, then be careful, because they will be back for more.
2006-07-31 20:52:19 · answer #1 · answered by sofiarose 4 · 0⤊ 1⤋
My practice when someone is in need is to give money rather than lend it. Make it clear that you do not want it back and that they don't owe you anything. This prevents any future expectation or negative feelings. This especially makes sense if the amount is small and you can afford it.
On the other hand, if you are loaning a large amount of money and you definitely want it back, consider yourself a bank and only lend to people who are creditworthy. The worst thing is to be hassling with someone that you knew you shouldn't have trusted in the first place. Make sure it is someone that you know very well and trust implicitly.
2006-07-31 20:41:48 · answer #2 · answered by downtowng1 2 · 0⤊ 0⤋
I think it's nice if you can afford to do it and can afford to trust someone that much. Lucky the two times I lent cash, it was paid back promptly and without questioning when I'd get it back.
But the one time I told a Friend she could buy a camera from me that I had brand new ( and was going to sell one eBay) for $200 she has not made one payment.
I think closer friends can afford to lend small amounts. But if you have the personality that will nag the other person to death o get your money back than you shouldn't do it. You shouldn't lend it if you can't afford to not get it back soon.
It's nice when you can help a friend out, but don't lend it with the intention of getting it back, that way you will pleasently surprised when they do. Also think about weather you would want them to lend you money, or if when you go out they pay for you etc.
I had a girl friend take me for a little shopping spree in her store with her credit card and she said I could pay her back, it's like a nice trust that she would say that and I paid her back right away using my money when we went out, bought her food etc. on my credit card.
2006-07-31 20:39:40 · answer #3 · answered by double v 5 · 0⤊ 0⤋
yes. i've lent out money and never gotten it back. Also, my best friend shared this credit card with one of our friends and he ended up never paying the credit card and leaving her with a huge debt. Stupid, I know. It ended up messing up the friendship. Lending out money to friends is just a bad idea in general. Asking back for it is a pain and the problems that could arise from it can hurt the friendship. There are only a few people i would trust enough to lend money out to..
2006-07-31 20:38:23 · answer #4 · answered by GC 4 · 0⤊ 0⤋
When I was younger I always had some money on me that I had earned from babysitting. Some asked for it, but repayed back some days later. For some people, they might not have repayed back, but I didn't mind buying them little things because they had financial difficulties in their families. So I loved treating a few of those persons out & I always got a thank you in return. For some others, they asked & asked and never repayed back like they said they would. At some point, they had cash on them too. So my advice in all of this is: it depends of who you're willing to give/lend it to, who you trust & do they deserve it. To some extent, when your friends say that person is so using you for your money, put your foot down, it might be time to listen out.
2006-07-31 20:42:41 · answer #5 · answered by Anonymous · 0⤊ 0⤋
I've never lent money to friends for the fear that I would never get it back plus I don't have that much money to lend out, I pretty much need it all to pay my bills.
2006-07-31 20:37:59 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Unless you are a bank or loan company, do not lend money to anyone - not friends, family, or strangers. Now, if you are independently wealthy and want to GIVE away money, do it.
I sincerely wish someone had given me that advice several thousand dollars ago.
2006-07-31 20:41:54 · answer #7 · answered by carolewkelly 4 · 0⤊ 0⤋
watch the people's court - it always goes sour and then you lose the friendship - i am the same way - never want to ask for it back so if it is "a lot" of money, i would think twice and tell the person that sometimes when you mix financial things into friendships, it can ruin the friendship and tell them that isn't a risk you are willing to take. - or just tell them you don't have the extra to spare. but i would be honest to avoid it happening again. i wish they knew not to put us in the awkward situation when they ask us. it's like not mixing busines with pleasure - it's a no no for a reason then one gets ruined. my vote is nay
2006-07-31 20:39:12 · answer #8 · answered by ? 6 · 0⤊ 0⤋
If you want to keep a friend,never lend money,Period.
2006-07-31 20:37:28 · answer #9 · answered by master_der_man 6 · 0⤊ 0⤋
Lending money has never ended well for me.
2006-07-31 20:36:51 · answer #10 · answered by julielove327 5 · 0⤊ 0⤋