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Should you lend money to friends?

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eversun
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Should you lend money to friends?  Reply with quote  

"A ready way to lose your friend is to lend him money. Another equally ready way to lose him is to refuse to lend him money. It is six of one and a half dozen of the other."
- George Jean Nathan

Do you agree with this?

Express your views. Share your opinions.
Post Sat Apr 22, 2006 3:12 pm
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Mike K
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Re: Should you lend money to friends?  Reply with quote  

Itís case by case for me. A few of my friends have no problem taking their time inconveniencing somebody or paying them back (if ever) so I watch what favors I do for them. I also have a few friends that I have no problem lending money to because I know they will not only pay me back but will do it as soon as possible and would also do the same for me. These are the friends I really take care of and am willing to go out on a limb for.

Two things to consider:
1) Are they going to pay you back, if so when?
2) How much do they want to borrow?

Again, itís case by case.
Post Sat Apr 22, 2006 3:37 pm
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Rolo
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Deuteronomy 15:7 If there is a poor man among your brothers in any of the towns of the land that the LORD your God is giving you, do not be hardhearted or tightfisted toward your poor brother. 8 Rather be openhanded and freely lend him whatever he needs.

Luke 6:33 And if you do good to those who are good to you, what credit is that to you? Even 'sinners' do that. 34And if you lend to those from whom you expect repayment, what credit is that to you? Even 'sinners' lend to 'sinners,' expecting to be repaid in full. 35But love your enemies, do good to them, and lend to them without expecting to get anything back. Then your reward will be great, and you will be sons of the Most High, because he is kind to the ungrateful and wicked. 36Be merciful, just as your Father is merciful.

Matthew 7:6 "Do not give dogs what is sacred; do not throw your pearls to pigs. If you do, they may trample them under their feet, and then turn and tear you to pieces."

"Expect me when you see me."
Post Sat Apr 22, 2006 3:51 pm
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Rolo
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quote:
Originally posted by sarah
You know, Rolo, it's ironic, because when I quoted these very verses to my local savings and loan, they still refused my refinancing request.


eheheh. Same here when I tried that seven-year thing on my mortgage! Smile

"Expect me when you see me."
Post Sat Apr 22, 2006 4:23 pm
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El Presidente
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quote:
Originally posted by Rolo
Matthew 7:6 "Do not give dogs what is sacred; do not throw your pearls to pigs. If you do, they may trample them under their feet, and then turn and tear you to pieces."
I guess it comes down to whether you feel the money you are loaning out is sacred. If not, then you should be able to loan the money without any hard feelings if you do not get paid back. Of course if I do not get paid back, I am less likely to loan them money again in the future.

quote:
Originally posted by Rolo
Deuteronomy 15:8 Rather be openhanded and freely lend him whatever he needs.
You may be giving him what he wants instead of what he needs, which could be a financial slap across the head.
Post Sat Apr 22, 2006 4:27 pm
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Safora
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I think the only way to loan money to a friend is to treat it as a gift in your own mind. Then if you get it back you will be pleasantly surprised. If you are loaning a large sum of money that you need to have paid back, get the whole thing in writing.
Post Sat Apr 22, 2006 5:06 pm
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Safora
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quote:
Originally posted by sarah
And if you ask for it in writing, you just lost your friend.


Then I would question the validity of that friendship.
Post Sun Apr 23, 2006 12:24 am
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BeckyBowden
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Hmm its always a risky thing to do in my opinion, you could end up losing friendships over it.
Post Fri Apr 28, 2006 10:04 am
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lolz0rd
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indeed, money, realtions, and friends are to be differents worlds
Post Mon May 15, 2006 7:20 pm
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coeli
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Put yourself in your friend's shoes  Reply with quote  

DO UNTO OTHERS WHAT YOU WANT OTHERS TO DO UNTO YOU.

How can you expect someone to loan you money if you yourself cannot loan money to someone else?

It sure is weird how we can ask questions like the one I am answering to when it comes to other people borrowing money from us but when it is us who is expecting the loan, we can never dare think of a no...we always expect a yes
Post Tue May 16, 2006 1:46 am
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Jim Colyer
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Lend money to your friends, and they will no longer be your friends.
Post Wed May 31, 2006 12:52 am
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la0zxb0izxx
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so funny how money can get you a girl,lose your girl,make friends, lose friends,bring happiness, lose happiness.. money controls the world but its so sad that its got people on corners doing things for money to get by..

however lending money to a friend, if i have it sure why not but if its my last few dollars i dont think so because people love to ask to borrow money but when it comes to paying back , their always delaying with excuses.
Post Sat Jun 03, 2006 9:19 pm
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Rolo
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Re: Put yourself in your friend's shoes  Reply with quote  

quote:
Originally posted by coeli
How can you expect someone to loan you money if you yourself cannot loan money to someone else?


I would never expect someone to loan me money.

quote:
Originally posted by El Presidente
quote:
Originally posted by Rolo
Matthew 7:6 "Do not give dogs what is sacred; do not throw your pearls to pigs. If you do, they may trample them under their feet, and then turn and tear you to pieces."
I guess it comes down to whether you feel the money you are loaning out is sacred.


That is one way to look at it, but the other way is, rather than focusing on the pearl, focus on the pig: if the person is taking advantage of you, then you see what follows. Charity does not exclude discernment and good judgement.

quote:
Originally posted by Rolo
Deuteronomy 15:8 Rather be openhanded and freely lend him whatever he needs.
You may be giving him what he wants instead of what he needs, which could be a financial slap across the head.[/quote]

That is an AWESOME point.

"Expect me when you see me."
Post Tue Jun 06, 2006 2:19 am
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Missie81
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Lending money to friends - now there's a tough question! It really depends on how much you trust your friend - the amount they want and what they want it for.

Over 3 years ago I leant my friend some money, I didn't get it back and then I lent her some more 2 years after. We are no longer friends as she just kept ignoring my request to get my money back - I was in a bit of financial difficulty as well and she was going out all weekend.

I have found out now that she owes other friends money too.

It really is not a good idea unless you can really trust them.
Post Tue Jun 27, 2006 11:27 am
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No-Brainer
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Hmmm . . .  Reply with quote  

Could be a good idea if you keep the amounts small. What better way is there to reduce the number of people hitting you up for a loan all the time?

My family and friends think just because I don't have to work for money anymore, it should be handed out like toilet paper.

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Post Wed Jun 28, 2006 6:20 am
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