Borrowing money

[cjoseph90]

What are your thoughts on lending not huge amounts but like few hundred bucks to Friends/ family members. I know usually people say not to mix money and Friends/ family but i would mostly disagree (depending on the case). This friend i trust completly and they are not working currently due to Life situation, theyve asked me berore and paid back when they said they would.

Im not asking for advice per say but more your experiences on It. 

Edited November 10, 2023 by cjoseph90
M

[gettoefl]

lending is fine but there does need to be a written payback agreement in place with specific date as to when the payback will conclude

and you have to be willing to lose the money as most people are unreliable through no fault of their own

and potentially lose a friend over it

so do lend and do so because you want this person to do great things

but do be prepared to be disappointed

best of all is to give to them with no requirement of payback just because you share their vision and passion

then if they fail there will no hard feelings maybe even deepening of the bond between you

i have lent and i have given and i will weigh up each request on its own merits

in general both make me feel happier since i have supported someone important who has turned to me for a chance to make it

[Razard86]

1 hour ago, cjoseph90 said:

What are your thoughts on lending not huge amounts but like few hundred bucks to Friends/ family members. I know usually people say not to mix money and Friends/ family but i would mostly disagree (depending on the case). This friend i trust completly and they are not working currently due to Life situation, theyve asked me berore and paid back when they said they would.

Im not asking for advice per say but more your experiences on It. 

Any money you lend assume you are not going to get it back, otherwise don't lend any money at all. Why? Because you do not control people, and attempts to control people will always cause conflict. Nothing wrong with conflict, just be prepared for that.

Global debt is the total amount of money owed by corporations, governments, and individuals around the world. In 2022, global debt was $305 trillion. In the first half of 2023, global debt fluctuated and then rose $10 trillion to a new record high of $307 trillion.

^^^Humans are not good at paying back money they borrow. LOL

Edited November 10, 2023 by Razard86

[cjoseph90]

@gettoefl ´´in general both make me feel happier since i have supported someone important who has turned to me for a chance to make it´´.. damn i felt that, yeah thats the reason i have done it in the past, it felt good to help a friend who genuinely appeciates it and needs it for basic needs.

@Razard86 thanks, good input! yup so true, a good reminder also in all domains of life. ´´Because you do not control people, and attempts to control people will always cause conflict.´´ im glad ive become more aware of this.

Yea its always a gamble lending money no matter who it is.

[gettoefl]

@cjoseph90 yes there is survival money to maintain our household and those under our roof and there is discretionary money to spread about

discretionary funds can be used to help those who need a helping hand ... this money is a good way to make an impact in the world ... at the end of our life we will remember and be remembered by what we gave so don't wait until the end of life to give to those who you care about ... a will is a sad reminder you didn't use what was allocated to you