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What to Say When Your Friends, Family Ask For Money



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he wouldn't pay me until I said to him I

said look you remember what you owe me

you don't know it to me no mom forget a

lot then he paid me in the next day

people say money and friends don't mix

and for good reason it strains

relationships we've all been there

feeling like a human ATM our kids our

friends our family they want to borrow

money you say no you feel like a heel

you say yes you can feel like a chump so

what do you do first and foremost don't

wait till it happens to decide what to

do decide what's right for you in

advance then make some rules about who

you're gonna lend to and win start by

evaluating your ability ask yourself if

you can afford it especially if there's

a chance you won't be repaid next don't

make exceptions if you decide you're not

gonna lend to friends don't compromise

even once when someone approaches you

like an ATM don't be wishy-washy be

clear be firm and answer immediately

next consider alternatives how else can

you help can you help him sell something

make a budget use peer to peer lending

find extra work and finally if you do

decide to offer a loan get everything in

writing you can find free promissory

notes online fill it out have it signed

if the amount of serious be serious talk

to a lawyer and consider getting

something to secure the loan bottom line

it's cool to lend a helping hand to a

friend or family member but it's never

cool to be taken advantage of so create

your own personal lending policy then

stick to it now you want a free

promissory note or more information I've

got it waiting for you right here at

money talks news com just do a search

for loaning money for money talks news

I'm Stacy Johnson hey did you like the

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