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Lending Your Friends Money

The Best Piece of Advice About Lending Pals Cash

As a rule of thumb, I'm hesitant to lend friends huge amounts of money as well as borrow from them. In fact, even if I owe a pal $3 for a cup of latte, I insist on paying her back instantly via PayPal if I don't have the cash lying around. That's because I never want money to be an issue with friends and, as we all know, dollars can definitely be a sensitive topic.

I just came across a really great tip about managing the relationship of friendship and money on Get Rich Slowly. The writer, April Dykman, says she basically had the mentality of expecting "not to be repaid, and only loaned as much as [she] was willing to lose." You know why that's brilliant? If you don't have any expectations of being paid back, there are fewer chances for any resentment to develop between you and your friend.

What are your experiences with mixing money and friendship?

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Join The Conversation
Emily-Co Emily-Co 5 years
It definitely is a very complicated issue. Thanks for pointing that out!
Frenched Frenched 5 years
That's some sensible advice but I think money is a trickier situation than that. My experiencies with lending money have not been very good. That's why so far, I've been lucky enough not to have to borrow very much money and I hope it stays that way. I don't like to deal with other people's money. I think everybody's been through the situation where you lend money (which you need) and you never get paid and unecessary tensions arise.
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