I have lent probably 10 friends money in my life. Of those I have had 8 pay me back. Thats not necessarily a terrible ratio, and currently all of them over $100 have paid me back except one and I think he does intend to pay me back. The problem is you never know quite when you will get burned so there are a few things to take into consideration before you lend to a friend or family member and a few guidelines to follow while doing so.

Questions:

1) Do I really believe they will pay me back?

2) How badly do they need it and am I the last resort

3) Is it even remotely possible I could lose contact with this person?

If you decide after thinking about those two things that you yes you should lend them money then its time to think about a few guidelines:

1) Give them a time frame to pay you back – dont get taken advantage of

2) Write it down – dont forget about it

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