Comments on: Lending Money to Friends and Family

By: Susan Tiner

Susan Tiner — Tue, 03 Nov 2009 18:31:49 +0000

Hi, I just found you via Len Penzo’s blog. I agree that family lending can be sticky–wrote about this in the latest Financial Organizing Soap Opera episode at http://www.financialorganizing.info/?p=664

By: Zhu

Zhu — Mon, 02 Nov 2009 23:19:46 +0000

I sincerely doubt that it is possible to lend money to close family or friends without running into trouble. Either give it (we all need help sometimes!) or don’t.

By: 5 Financial Rules for Women

5 Financial Rules for Women — Mon, 02 Nov 2009 19:26:31 +0000

[...] Stay away from co-signing: When you co-sign on a loan, you are assuming responsibility for it. If the person turns out to be unreliable, your credit score is lowered, and you are responsible for discharging the debt. You may feel bad, and you may want to help, but co-signing can be a bad financial move. Along the same lines, be wary about lending money to friends and family. [...]

By: Miranda

Miranda — Fri, 30 Oct 2009 15:23:22 +0000

I think I’m with you, Matt. It’s better just to give it if you can afford it. Lending money to those you know is a chancy business.

By: Matt Jabs

Matt Jabs — Tue, 20 Oct 2009 14:29:23 +0000

I would almost NEVER loan money to love ones. If I can afford to give it, then I would just give it with no expectation of reimbursement. If I could not afford it, then I would just tell them I don’t have it.

Great article Miranda – thanks!