10 Reasons Why You Should NOT Lend Money to Friends & Family10 Reasons Why You Should NOT Lend Money to Friends & Family10 Reasons Why You Should NOT Lend Money to Friends & Family10 Reasons Why You Should NOT Lend Money to Friends & FamilyAs Shakespeare wrote, “For loan oft loses both itself and , If you lend money to a friend or family member, beware that you may not get your money back and your relationship may never go back to normal. This will cause tension between you and the borrower, and may also cause guilt, remorse, and …30/11/2018 · 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 12/08/2021 · 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 ;· You may not even have extra money to lend someone else without compromising your long-term (or short-term) financial situation. Lending money to a friend could delay or postpone future plans if you aren’t careful. You may have to prioritize yourself and your family. Loaning money isn’t the best option if it will put you in a financial bind, too. ;· Never lend money that you’ll need in the immediate future. For example, if your friend needs $200, but the only cash available is for your rent or mortgage that’s due in the next couple of weeks, you’re better off telling the person you can’t help.

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