Loaning out money to friends/family

[Redway]

Is this something you don’t mind doing for friends in need or are you more cautious about lending money?

[smudgie]

No problem with sharing with family.
Friends in need would of course be helped out.:shrug:

[Redway]

And by family I mean more slightly distant relatives who you don’t have some sort of obligation or duty of care to (e.g., a cousin rather than a sibling).

[Ammi]

...I don’t think that I’ve ever lent money to family/friends...my dad always would say...if someone’s position is that they need to borrow, then they’re probably not in a position to repay because that would only add stress to their situation...so don’t ever loan what you’re not prepared to give...that’s the thought process I tend to have as well because it makes sense to me...

[smudgie]

...I don’t think that I’ve ever lent money to family/friends...my dad always would say...if someone’s position is that they need to borrow, then they’re probably not in a position to repay because that would only add stress to their situation...so don’t ever loan what you’re not prepared to give...that’s the thought process I tend to have as well because it makes sense to me...

I agree with this Ammi.
If my family or friends need helping out then a gift is better than a loan.

[Cherie]

Unfortunately lending money can blow up into major family disagreements, so I would say if you can afford to lend and not expect it back that is fine, if you lend and expect it back, get something it in writing and a payment plan so both parties know what to expect but even that can end in non payment

I would give to my immediate family and not expect it returned.

Extended family/friends I would be more wary of tbh

[Marsh.]

Yes with close family and friends. With more distant relatives it would only be small amounts I could afford to part with.

[Redway]

Yes with close family and friends. With more distant relatives it would only be small amounts I could afford to part with.

Is there a certain amount that’s out-of-bounds to you with those distant relatives?

[Niamh.]

I would absolutely help out my family, I trust them though, if it was someone unreliable or a piss taker I wouldn't

[Redway]

I would absolutely help out my family, I trust them though, if it was someone unreliable or a piss taker I wouldn't

Immediate family’s a given but it can be harder to gauge with people outside that circle.

[Niamh.]

Immediate family’s a given but it can be harder to gauge with people outside that circle.

Oh yeah definitely, no one from extended family has ever asked to borrow money from me though so far!

[Redway]

Oh yeah definitely, no one from extended family has ever asked to borrow money from me though so far!

True but I was talking more with friends. That’s always a tricky one.

[Niamh.]

True but I was talking more with friends. That’s always a tricky one.

I've loaned friends money on a night out (back before you could just tap to pay everywhere) but my closest friends are pretty trustworthy, never didn't pay it back or return the favour. No one has really asked to borrow a substantial amount of money from me

[parmnion]

I'd give it and tell them to pay back when and if they can.

[joeysteele]

I'd give, NEVER loan.

I see it as no different to helping a relative/ friend move some awkward or heavy furniture.
No different if it's money needs then either.

[Ammi]

I'd give, NEVER loan.

I see it as no different to helping a relative/ friend move some awkward or heavy furniture.
No different if it's money needs then either.

...Joey explaining his money laundering business deals...I’m with you Joey, completely...:love:...turn that loot on the street into legit....

[Cherie]

also it depends on the amount, like if someone asked me for a tenner I would give it to them whoever they were

[Niamh.]

also it depends on the amount, like if someone asked me for a tenner I would give it to them whoever they were

Can I have a tenner please Cherie? :smug:

[Cherie]

Can I have a tenner please Cherie? :smug:

sure!

[DouglasS]

Depends how much and how close I am too them.

[UserSince2005]

I tend to be seen as a bank earning as much money as I do.

I dont mind but probably because ive never had any issues

[Josy]

I would absolutely help out my family, I trust them though, if it was someone unreliable or a piss taker I wouldn'tThis

[thesheriff443]

I just offered a friend of mine some money because she is struggling at the moment but she won’t take it at the moment.

[Redway]

I just offered a friend of mine some money because she is struggling at the moment but she won’t take it at the moment.

Were you expecting it back?

[thesheriff443]

Were you expecting it back?

No I don’t want it back.

[Toy Soldier]

Lending is a bad idea, if you want to help someone out and you can afford it by all means give them the money... but expecting (or worse, needing) it back will end in tears.

If they end up doing better and decide to pay you back, that's fine. You might also hope if the shoe is ever on the other foot, they'll help you out. But an actual "loan"? No... that's how you end up on Judge Judy.

[Redway]

No problem with sharing with family.
Friends in need would of course be helped out.:shrug:

I agree but some people are very funny when it comes to money. Even people you’d consider close friends.

I get people being tight about larger/more substantial amounts of money but if someone needed a fiver/tenner I’d dash it to them whoever they were. I don’t get why even that’s such an issue for some people.

[GoldHeart]

also it depends on the amount, like if someone asked me for a tenner I would give it to them whoever they were

Yeah I was thinking the same, if it's a small amount then it's not that big a deal.

I remember when I was a little kid £1 or £2 seemed like a lot to give away,but that's because it was part of pocket money. Obviously now a few quid doesn't seem like much.

[bitontheslide]

if a family member needs help then I would always be there for them. If you can afford to lend it, you can afford to not expect it back which is where arguments stem from

[Toy Soldier]

Never loan money to friends or family with the expectation of it being a loan. I’d say only ever give money you can afford to part with, and give it to them as a gift with no expectation of being paid back. If they WANT to pay it back and do end up paying you back, accept the money back graciously.

Loaning money to family and friends with an expectation of it being repaid is asking for trouble.

[Toy Soldier]

:joker: this is a resurrected thread and I said the exact same thing last year. At least I’m consistent I guess!

[Captain.Remy]

Nope, not doing it. This created a lot of nasty issues in my family in the past (some cousins still having feuds with aunts, parents or grand parents even) so I won't do this for anybody.
Sounds selfish I know but money is problems and I'm not getting into family feuds or worries.
I love them a lot, we even discussed this and we're all OK with that.