Do you believe lending money to someone else is a smart idea?

[klassicdoll]

In the end, you should only consent to lending money to a friend or relative if you are entirely satisfied with the terms of the agreement and if the individual is someone you can trust. If you are uncomfortable lending money or cannot afford to, don't feel bad about saying no. Lending money to friends and relatives can also put you in financial trouble and possibly strain your relationships. Setting limits on lending to friends and family can minimize the likelihood of issues and help maintain bonds.

How about you? What do you feel about this?

 

[Augusta]

It depends on the person that you are lending to. I gave 30k naira to my cousin 4 years back still dateshe is yet to return it. So I don't like the idea even to family members

 

[freelancermaria]

Well, if that person is trustworthy and capable of repaying you, you might be able to lend him or her money. To be honest, I don't like lending money to others. I'd rather give the money than encounter issues later.

 

[magnus2022]

It is very wrong to lend money especially your family members and friends. Money issues use to spoil relationships. Don't lend but give without expecting any return. If you are not comfortable with the idea of lending to anybody, just say no.

 

[Kirubel]

To tell the truth, its's very hard to say no to your family because things may not go well or we may not get as close as we used to. When it comes to money, everything changes, and I hope no one will ask me to lend them money that I can't afford to lose. that is what i can say right now.

 

[Starmix]

I have a friend who lent money from me and paid me right but it happened only in the first. In her second time she borrowed almost double from the first but she failed to pay her remaining balance until now. It's crucial

 

[deucher]

I am only ready to lend money if I will later receive a profit from it, that is, it can be called that it is only an investment. Only in emergency cases can I borrow funds and not even expect a return

 

[neku]

Lending money to relatives, friends remains risky, due to fake money laundering allegations and also in some cases, the relative may not repay the money. So unless you can afford to take the risk, it is better avoided.

 

[freelancermaria]

I have a friend who lent money from me and paid me right but it happened only in the first. In her second time she borrowed almost double from the first but she failed to pay her remaining balance until now. It's crucial

That is a shame. What did you do? Are you still friends with her after that incident?

 

[Starmix]

That is a shame. What did you do? Are you still friends with her after that incident?

I didn't junk her, I don't her real problem. She promised to pay me in the right time. If I consider her an enemy she will be happy for her balance 10, 000 pesos will be quits, no way. I'll give her another chance before I report her to the police.

 

[King Belieal]

Whenever you intend to lend someone money, make sure you lend an amount that you can easily forget about. Lending someone huge money is a foolish thing to do.

 

[eLdavis]

It depends on the person and the kind of relationship I have with them. For me though based on passed experience I really do not like lending out money to others.

 

[Stardom22]

For me l don't believe so. ln most cases one is highly in the risk of loosing their money lent to others when they fail to repay back. l would rather willingly help the needy than giving out money for credit.

 

[King Belieal]

I have resigned from lending money to people. The last persons I have lent money to haven't been honest enough to refund it. I intend to just help people with what I can than to court unnecessary trouble with lending money to people.

 

[Augusta]

It has two sides both good and bad. But it is not really a smart idea as you might not gets your money back after all.

 

[Tray59]

You have to be careful who you lend money to someone who promised to pay you high return may run away with your money so if you specialize on this you have to be careful

 

[Stardom22]

For me that is a very risk Idea. That's because most people are not trustworthy and tend to run away with your money for that reason. Therefore one can easily get losses for that reason.

 

[Springtime]

I've never lent money to anyone except my brother when his company was in financial trouble. I trusted him and he did pay me back on time.

 

[Augusta]

For me that is a very risk Idea. That's because most people are not trustworthy and tend to run away with your money for that reason. Therefore one can easily get losses for that reason.

Yes, when once money is involved one need to be careful. You can lend your money to those that you know are really trust worthy.

 

[King Belieal]

I don't even know how to ask someone to lend me money. I have refused to lend money to people this days because it always leads to more trouble between persons.