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

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[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.

check cashing place

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.


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