We all have them. The one friend who is suddenly in a tight bind and needs to borrow money for unforeseen expenses and needs the money in a hurry. They may not be able to ask family, instead they come to you in hopes they can get some funds without a fuss.
Lending money can be seen as a genuine gesture which can equally turn sour. Lending money to friends or family can make or break a friendship depending if the loan is repaid or not.
After assessing the friendship, you decide to lend the money to your friend, in hopes of helping them get out of a jam. You never know when you may be on the other end of the spectrum, needing a loan yourself. When a friend is in need, you want to reach out and help them the best way you can.
You can make sure the friendship doesn’t go south by following these simple tips.