Lending money from friend. Good or bad?

Hi shineveramya, Most times, when someone is nice enough to help a friend or family member out by lending money to him or her, it later leads to regret. Any financial advisor will tell you that lending money is always a bad idea. Whether the borrower is being deceitful, know he has no intentions of repaying the loan, or he finds it difficult to repay because of the lack of funds, the relationship suffers and sometimes ends. When you see you friend struggling, and you can help by lending them some money, it is really difficult to say no. However, saying yes, you should give it some serious thought about how you will handle the situation if the loan isn't repaid. I have been in this position before, and my first choice was not to loan the money to the friend, but I broke my own rule. I am very lucky, because the loan was paid back in full. I really don't make it a rule to lend money to friends and family. Everyone is not so fortunate.

Lending money from friends esp in times of emergency is not that bad at all. We don't have someone to run to but people whom we consider to be our friends. If it becomes habitual and we don't pay it back,that makes it bad. But,as long we were able to return it on time,there is nothing bad in my opinion. For lending money needs trust from someone who lends us,and we should not break that trust in anyway. I don't have the habit of lending money from friends but i do borrow money when i needed it most and i don't have sufficient funds to raise what i need. I borrow money but i am a good payer too. Have a good day always

my grandmother use to say.. "Never lend out more then you are willing to give away." So I always say, I will give you $20, but i'm gonna lend you $30. and if i lend a friend or anyone money, best believe they are going to sign a promisory note! oh yeah... Gotta love Judge Judy... I don't play games when it comes to my money. you will be giving it back or i am taking your a$$ to court!

This is always a difficult choice. It is very common that people say if you don't lend the money to your friend, then you will lose your friend. Whereas if you lend money to your friend, then you not only lose the friend, but also your money. If you cherish the friendship and at first you have to prepare that your money can not be returned. Then you may feel better. If your friend will return the money to you at last, then at least it is a surprise and this friend is trustworthy. I love China

Yes I completely agree with the responders above. The way I look at it is when you lend whether to friends and or family you must consider money that you can bear without. As once a dispute about money comes into play well there goes all the love and friendship right out with the money lent.

I usually don't lend money from friends. But i feel it is okay to lend from friends. They are our friend so why uncomfortable. But not in unnecessary situation, only if you are in deep need. But not all the time, there is a chances of developing a habit in you. Have to be very careful.

I guess it would depend on why my friend has to borrow money and if I do have extra money then I would be willing to let her borrow once. But if it does become a habit, then I don't think that I am helping her anymore since she will not learn how to be disciplined with her budget. I mean if I were in her place and I really needed the money like for emergencies, then I would really be grateful for the help that she would extend.

It really depends on the situation. I guess I will lend money if my friend really needs it, or if there is an emergency. But if it is for things that is really not a necessity then I won't probably lend them money, specially if I'm not really close with the person.

I do lend money from my friends, but my friends know how to pay on time. They also borrow because they need it for daily living. not for something of luxury. Though I believe that we should avoid borrowing money from our friends, there might come a time that the friend might feel used or worse, feel like that he/she is just a friend because of money. Sometimes it's better for your friends to offer to lend you money than to ask them to lend you.

I agree with you that if it is already a habit then a friendship might be at stake in one occasion that if the other cannot pay on time, then a misunderstanding might develop. The lesson might be, we just have to be vigilant if the need of our friend is really genuine and if the person really has a word of paying back. On huge money, you can probably ask for a collateral that may serve as protection on your part.

It's not bad to lend money from a friend. A friend is someone you can depend all the times. In times of financial difficulties, it's our friends whom we consider asking first before other people. But it will turn out bad if money lent wasn't paid back in return. There are people who seems to neglect or into a habit of lending money but failed to return back because they thought it's their friend and their friend can understand them always. Those people are taking advantage of the friendship and could turn that friendship badly.

I don,t agree with you.Being friends,we should do what we can do to help our friends.If our friends are lack of money,we can lend them money properly.On the other hand,we should return the money lend from friends in time and it would improve our friendship.Timely return of a loan makes it easier to borrow a second time.In most cases,I think,continuous habit of lending will end up good.

i am with you in all what you see but in my opinion we can friendly lend money to our close friends , not any friend , just the best of our friends who make the same with me if i fall down and not to delay , the best friend always be your shoulder in difficult and hard times , so if my best friend wanna any thing from me and i can do it instantly not hesitate to help him and take his/here hand to be the best so finally God bless you Shineveramya cheers Medo

I think sometimes, we are forced to lend money from friends.I did it many times but my friendship still very good, because we trusted another. Of course if the necessary amount is huge, the friend whom you lend from must be truly trust you and they really want to help you in difficult situation, and I think it alright if you take money back in time or late but with reasonable reasons.But we shouldn't continue many times, instead of that, we need to work harder, money from our effort 'll make life truly better.

'Neither a lender nor a borrower be' is a time tested statement. This is especially true among relatives and friends. Once the money leaves our hands it does not belong to us. And if we ask for repayment of a loan we are likely to be looked at with contempt[kadangaran vandhuttan;Kadan uravai kedukkum'---isn't it Ramya?You must see old Tamil movies to get a glimpse of veteran actor M.R.Radha's profound statements about borrowals and loans. They are very entertaining.

In the past i have let a lot of friends borrow money off me,but now i do not.In the past there was one friend that i would lend money to,then i had to wait along time until i got it back,another friend i lent money to and never got it back.I do now only lend money to one friend,as she always pays me money that she has borrowed without fail.

Lending money to our friend is fine especially when you have the money to lend and your friend is need badly at that time and nobody to run except you. Because a true friend will always be there through thick and thin. But whoever you lend your money, be it a friend or not, they should know how to pay it back to you. Even that person is a friend he or she should know to pay it on time so that the friendship will not be damaged.

I think it all depends on the scenario and the friend. I mean, let's say your friend needs a bottle of water and you lend them a dollar. I think that's all right to do. But, if I friend wants two hundred dollars to take a class at their local college, I might have to re-think that. Yes, I want my friend to succeed, but two hundred dollars? Do I even have that money to lend someone? Will the person pay it off? It really depends on the friend in that case, especially if you just met him or her.

The only time I would lend my fiends money is if they truly needed it for something necessary not for things like clothes and shoes. I really can't trust lending money to people. I once lend some money to a friend to buy some things and a couple of sweets. Now every time I ask her when she's going to pay me back..she always answers with a sorry excuse. She always tells me I already payed you back and then other times she says that she never borrowed money from me. I really don't think lending money to a friend is a good idea unless they really need it.

Hello! It depends upon the situation, the urgency for the need of money is the first thing to consider. Not everyone can pay you on time, much worst is that not everyone can pay you at all. This might cause those things that you have just mentioned. But there are some people that will do everything to pay their borrowed money. From my own experience, on the part of the borrower, it's better to tell the whole truth if you will be able to pay it on time, delayed payment might cause misunderstanding. Non-payment might ruin your friendship. On the part of the lender, if you're fortunate enough, give the longest possible time for the payment of the borrowed money. This will somehow give the borrower enough time to pay.