The saying, «Don’t ever lend money to a friend,» exists for a reason. Financial ties between friends can be tricky, with generosity on one side and the risk of damaging the relationship on the other. Here’s how to help someone you care about while minimizing the impact on your wallet.
Credit of trust
The safest approach is simple: Only lend what you can afford to lose. If the amount would strain your budget or leave you feeling resentful, it’s better to say no upfront.
Consider alternatives to lending
Sometimes people ask for money not because they’re in a crisis, but...