If you lend money to a friend or family member, be conscious of the moral obligation they feel to you, and don’t take advantage of their situation. Although they may owe you money, you don’t have a right to expect them to do whatever you ask. 6. The Borrower May Ask for More. If you agree to lend money to a loved one once, you can do it ;· Lending money to friends and family can lead to financial problems for you and potentially cause relationship damage. Creating boundaries for loans to friends and family can help ;· If you are lending money to a friend or family member, you may want to get the details in writing and signed by all parties in case there’s a conflict or misunderstanding. If all you have is a verbal understanding and a handshake, that may not be enough to prove the details of your ;· If you need some convincing, here are six reasons why lending money to friends or family is a bad idea. 1) You’re a last resort They’re likely coming to you because they can’t get a loan 28/08/2013 · The old adage of…if you lend a friend money you will lose both…has happened to me twice. Both gave me a date of repayment and signed promissory notes…which made no …21/08/2013 · Here is how I got burned and how you can get burned too (and the firs 5 reasons why you shouldn’t lend money to your friends): 1. In most cases “lend me some money” meant “give me some money,” especially when they were asking for small amounts – let’s say 5 or 10 bucks.

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