Letting people borrow money

[tashamjoy]

Who lets people borrow money? I have lent out so much money in my life and am sick of it !!! I guess I am the pushover how do you guys feel about lening out money? I paid for a concert back in december for my 3 friends and me only one friend paid me back one friend keeps saying she will and the other one stopped texting me when i asked and changes the subject when we were together this was not a forced concert they choose to go dont you think they would have known they would have had to pay dont forget i drove an hour away my gas my money for parking all i ask is the money for the ticket i dont get how people can do this !!!

[thetop31]

why you pay for them, I lent money to my friend too, but at that time, I thought they are not bad person, but after they disappeared and they never mentioned they would give back my money, it was not a big money but when I really need money that money can let me live for some days. the first person I lent money to him cos his hometown is not far from mine, I called him after some month, he asked me not to call him anymore!....see how this kind of people is.
nowadays, if you can keep your money in your pocket then keep them. or else, it is a lost!

[Phx0808]

I have given up on "loaning" people money. It's money you know there is a slim in h*ll they will ever pay it back. So if i have it, I will give it to them. I would rather keep the friendship and lose the money. Most have paid me back. if they do great, if they don't that is fine, too as I never expect to see the money again.

My 2 cents,
Phx0808














P. S. I have no money currently, so don't ask.

[dreamyxo]

Consider it at gift.  Now you don't have to buy them anything for their birthday or Xmas.

[danielzhoney21]

I have let people borrow money but dont lend people money that I cant afford to lose just in case I dont get it back. I mean if I have a trusted friend and they can pay back smaller amounts I would be more willing to lend bigger amounts. It all depends on the person. But If i get burnt and dont get money back then I would never lend them anything again. Just dont lend out what you can afford to lose

[footemama]

Personally I don't lend money (mostly because I don't have any). I tend to barter in favors. Usually it's a I will watch your child and when I need you to you will watch mine!

But often my friends and I will rotate who pays for lunch. If I can't afford to pay for everyone then I don't ask people if they want to go...it works well for us and I doubt anyone could say for sure who has bought the most lunches nor do we really care. LOL

[Annella]

You have to be discerning who really needs it or not. Some people are scammers. Sometimes if it's a specific need I can help them with (food, gas, etc.), then I will take them to get food, gas, medicine, etc. When you give money, don't expect payback. Don't know if I've ever "loaned" money to anyone.

To loan money to family and friends, is asking for trouble. It's not a good thing to do. Never cosign for anyone for anything. That makes you responsible for the loan (in case of nonpayment), and its not a good thing. I would hate something like money to come between my family or friends. It's not worth it.

[dlastqueen]

  It's a matter of trust.  I will not let people borrow money if I know they will use it to buy drugs or alcohol...i.e. "I know you're a crack head."  I made that mistake one time and I regret it to this day.  This family member knows that I will NOT give him any money for anything.

[gorer01]

Don't ever loan people money it's a good way to make enemies. Don't loan family money, most of the time you don't get it back.

[lgemini]

I would just want to give my friends the money not let them borrow the money.  Because once you let friends borrow money your relationship changes and if they forget to pay you will start to hate them.   If you can not give them the money, the best thing to say is no.

[dbreidenbach]

I stopped lending money to people years ago, because I was never paid back.  Now that I have almost no money, it's no longer an option.  I've found those who have asked me in the past don't bother with me now because of my financial situation. 

[kapeh12]

When I loan money out, it's always money I determine I can afford to lose should the person not pay me back, or if it may take a while for a person to pay me back so I can't count on a quick return.

Most friends/family/neighbors I've loaned money to have paid me back when they were able, but not all of them.  If it's someone new, I tend to give them the benefit of the doubt, particularly when they are asking for money for necessities (like I had a neighbor I knew was on Social Security and her check was late and she needed groceries).  If the new person pays me back, then I'm more likely to loan them money again in their time of need.  If not, it would depend on the amount they are asking for, but if they never make good, then I just don't keep cash on hand so if/when they ask, I simply reply I don't have any cash on me.

It's a judgment call on your part, however it would be wise to treat the money you loan as money you are not getting back, and if you do it's a bonus.

I agree with the earlier suggestion of not co-signing on someone's loan - that's a really good piece of advice to keep in mind.

[Gerianne]

I lent someone money when I was in my 20's .....3 times... I saw the guy years later ....by coincidence. All I could think about was that he owed me $40. He paid me $20; I was still "out" $20.
I was watching Suze Orman's show for a while. What  she says makes sense "people first, then money, then things" 
If you give someone money, give it freely. family too.
 Never loan family or friends money.
People of all kinds soak up and absorb money. It's like water.
Give freely .....that's the best with anything.

[dreamongirl]

yeah i let people use money. some haven't paid back. so when b-day or xmas comes up i just take 20 off of what they own me. even in one of my email names i have bank in it, lol

[mary_k]

Don't lend it if you really need it back.