(Closed) Lending money.

posted 5 years ago in Money
  • poll: Have you ever lent someone money?
    No, never! And I wouldn't! : (13 votes)
    16 %
    No, but I have given money to a family member : (8 votes)
    10 %
    No, but I have given money to a friend : (7 votes)
    9 %
    Yes, and my family member paid me back : (13 votes)
    16 %
    Yes, and my friend paid me back : (13 votes)
    16 %
    Yes, but my family member never paid me back : (7 votes)
    9 %
    Yes, but my friend never paid me back : (11 votes)
    14 %
    Other : (8 votes)
    10 %
  • Post # 3
    Member
    7213 posts
    Busy Beekeeper
    • Wedding: June 2013

    If I were to make the decision to give someone money it would be a gift not a loan. I’ve heard too many stories about people not getting their money back. So if a friend or family member was really really in need and I could afford it, I would gift them the money. If they happened to pay it back that would just be a bonus.

    Post # 4
    Member
    447 posts
    Helper bee
    • Wedding: June 2013

    I have learned that banks lend money, family/friends shouldn’t. Giving money to a friend or family member with the intention of getting it back is generally going to cause some issues. Both Fiance and I have given friends money, with the intention of it not being returned (if they happened to, that would be great).

     

    We upgraded our home theater system and were going to sell our old one on Craigslist. A friend expressed interest, so we sold it to him for a fraction of what we were planning on selling it for. Fiance went over and set it up for him, and when we were getting ready to leave, his friend “couldn’t find his wallet”. We used to hang out with this couple on a regular basis, now they haven’t returned our calls in 3 months. We gave up on the idea of getting that money, but are disheartened by the fact that we were deceived and a friendship ended over it.

     

    Never mix business with pleasure.

    Post # 5
    Member
    5002 posts
    Bee Keeper
    • Wedding: September 2013

    We never have, but my Fiance says that he would only loan money to someone if he didn’t want/need it back. I think that’s a good outlook because things can happen, and someone who really needs money likely won’t be able to pay it back. We may run into this with his mother someday, but hopefully not for a while!

    Post # 6
    Member
    3553 posts
    Sugar bee
    • Wedding: August 2014

    I covered some of my roommate’s expenses in college. Over the course of a summer she owed me over $500 which is a lot when you’re a college student scraping by on part-time work. she then proceeded to take a trip to Italy and give money to homeless people in front of me. I got really annoyed to say the least. I eventually got about $400 back, but she also stole my portion of the deposit on the apartment, so she still owes me a couple hundred. The money along with some other things destroyed our friendship.

    Post # 7
    Member
    2604 posts
    Sugar bee
    • Wedding: October 2010

    @BoxerLady:  I’ve given family members money when they were in difficult circumstances and would do so again.

    I’m not a big believer in lending money but I’m not saying I wouldn’t ever do it.  I would under certain circmstances. 

    If the circumstances happen to be that you’re just irresponsible with money, live beyond your means and never save?  Yeah, sorry, can’t help you. 

    I don’t work and deny myself things so I can save just so I can hand it over to someone else who doesn’t do those things. 

    Post # 8
    Member
    1246 posts
    Bumble bee
    • Wedding: August 2013

    I’ve loaned money many time. I loan it with no intentions on getting it back. So I only loan what I can afford to lose. I have always got it back, sometimes quickly, other times in forms of dinner, movie, etc. 

    Post # 9
    Member
    14440 posts
    Honey Beekeeper
    • Wedding: June 2011

    Yes, to one good friend before.  He eventually paid me back but it took a while and a payment plan.  It was a bad idea to begin with since I knew he was really bad with money, but I trusted that he’d pay me back.  It was just a little to begin with, then it added up, then there was a big loan for his car to just hold him over over pay day.  Eventually it was almost 3k.  All the while he was buying new electronics and going out to eat nice dinners, so it jsut got aggravating.  We eventually settled on a 200/month payment plan which he stuck to, and I think paid off the loans. 

    Post # 10
    Member
    4021 posts
    Honey bee
    • Wedding: August 2013

    I haven’t as I have no money to lend. I have borrowed money from my mom and am in the process of paying her back.

    Fiance has loaned money to his brother, and his brother is paying him back.

    Post # 11
    Member
    1695 posts
    Bumble bee
    • Wedding: March 2012

    I only did it once and my friend gave me a very short deadline by which she would pay it back (a week).  She paid it back.

    Post # 12
    Member
    11752 posts
    Sugar Beekeeper
    • Wedding: November 1999

    I don’t loan money to family/friends, I just give it.  Sure, maybe they say it’s a loan but in my mind if I decide to help someone out financially, I don’t ever expect to get it back.  If you loan with expectation to get it back, it will only cause issues in the relationship…

    Post # 13
    Member
    2188 posts
    Buzzing bee
    • Wedding: March 2024

    I chose other because I’ve lent SO some $ here and there and he always pays me back within a few days.

    Post # 14
    Member
    1189 posts
    Bumble bee
    • Wedding: February 2014

     I have never lended money.  I have given someone money though.  I just don’t think it creates a healthy situation when a friend or family member “owes” another, so I’d rather just give it freely or not at all.

    Post # 15
    Member
    2966 posts
    Sugar bee
    • Wedding: May 2014

    I usually give it, never expecting it to come back. That mainly applies to my immediate family (mom and dad). 

    The topic ‘Lending money.’ is closed to new replies.

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