Your Thoughts: Is it a Good Idea to Loan Money To A Friend, or Better Yet, a Boyfriend?

6 years ago

[Editor's Note: Ever really needed that pro/con list from an unbiased third party while deciding whether or not to loan money to a friend or significant other? Bookmark this list -- you never know when you're going to need it. -Rita]

Well isn't this a touchy subject to bring up on a Friday! Lol. I'm curios to know how the readers feel about this one. Do you think it's a good idea to loan money to friends, relatives or to a boyfriend? If you do, would you loan it for short-term or long-term? Here are my thoughts on this: no. Not only no, but hell, no! But hey, that's just me. I'm a little tight-fisted when it comes to my money :) All joking aside, I think it would really depend on the situation so I don't think this can be a blanket "yes" or "no" answer.

Credit Image: Eddie~S on Flickr

Reasons Not to Loan Money to a Friend or Boyfriend

  • It can cause a rift in the relationship when you see the other person spending money on something stupid after you just gave them your money.
  • It can become awkward; what if they don't pay you back? How will you handle that?
  • If you are struggling yourself, you shouldn't loan money to other people.

Reasons to Loan Money to a Friend or Boyfriend

  • A dire emergency where it's a life or death situation -- (even I am not that heartless!).
  • You don't expect to be paid back-- that way it won't become a problem if you don't get your money.
  • You have a clear understanding of how quickly the loan will be repaid.

I'd love to hear what you think about this! Please leave a comment and share your experiences with loaning money to a friend or boyfriend.

Jenny Kerr is the creator of The Jenny Pincher and savings expert for the single girl. Visit The Jenny Pincher to learn more.

This is an article written by one of the incredible members of the SheKnows Community. The SheKnows editorial team has not edited, vetted or endorsed the content of this post. Want to join our amazing community and share your own story? Sign up here.

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