Saturday, May 24, 2008
lending MONEY TO FRIENDS
WHILE lending money to friends to keep two things in mind.1. save your friendship 2. peace of mind.you need to ask your money back,however difficult it may seem to be.not to worry about hurting your friend ,he/she will understand that you need the money back.be firm and clear.you r friends financial problems are ultimately for them to manage and deal with.availing loan by your friend may turn out to be a consistent behaviour.you bailing them out will only ensure that you both have financial problems.clear communication is the key to friendship.while you lend money to your friends be clear about exactly when and how the loan need to be repaid.
Subscribe to:
Post Comments (Atom)
Good idea! Lending money to friends can be a real heart breaker, if I may say so. I don't easily lend money to friends. My reasons can be found here : http://skilledwriter.wordpress.com/2008/09/08/personal-finances-do-you-lend-money-to-friends/
ReplyDeleteI appreciate my friends. When they are in need of money, I'd rather give as in give without waiting for any form of repayment. If they ever uttered the word " borrow" I politely tell them I'm hard pressed at the moment.
As you've said, better that they get offended with my refusal but maintain my sanity.Than the other way around.