Published by admin on 25 Jan 2008
How to Deal With Friends Who Need Financial Help
It is difficult to know what to do when friends ask you for money. Here are some tips to help you deal with this difficult situation
Do you often find yourself trying to resolve the financial difficulties of your friends and relatives? From personal experience, I know this is a difficult situation. At times, it can seem more difficult than solving our own financial problems.
There is no right way to deal with the financial problems of other people. It will depends on the nature of your relationship with them. However, here are a number of suggestions to bear in mind.
1. Should I lend money to my friends?
“Neither a borrower nor a lender be; For loan oft loses both itself and friend,”
- LORD POLONIUS: From Shakespeare’s Hamlet, 1603
Lending money to friends and family is a potentially awkward situation and can be the source of conflict in a relationship. Before lending money to friends, ask yourself these questions: