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Should I lend money to my friend?
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PKoli
#11 Posted : Thursday, August 12, 2010 4:43:06 PM
Rank: Elder

Joined: 2/10/2007
Posts: 1,587
My 2 cents wrote:
My friend has approached me for a loan knowing fully well that I have the funds. How do I proceed? Do I risk our friendship by loaning/not loaning the money? From experience I know he is not fiscally disciplined.


Give what you can afford to let go if he/she refuses to pay.

My principle: A lady I give maximum of 5k; A man 10k.
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JabaBoeku
#12 Posted : Thursday, August 12, 2010 4:51:51 PM
Rank: Member

Joined: 4/28/2008
Posts: 53
Lend only that which you are willing to loose. View it as "giving out money" not lending!
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the deal
#13 Posted : Thursday, August 12, 2010 4:56:03 PM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
Just give the guy the money if u have....u dont lend to friends they dont pay...
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Wa_ithaka
#14 Posted : Thursday, August 12, 2010 4:59:40 PM
Rank: Veteran

Joined: 1/7/2010
Posts: 1,279
Location: nbi
Collateral that you can keep would be for the best.
O/wise, say you've found an urgent destination for the cash
The Governor of Nyeri - 2017
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Nurse1
#15 Posted : Thursday, August 12, 2010 5:37:04 PM
Rank: Hello

Joined: 8/9/2010
Posts: 4
Location: USA
If I were you I would lend this friend only what I can afford to loose. Remember you may be the one in need next time and this friend could be the only person you can turn to. Money is great but friends are also important.
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sparkly
#16 Posted : Thursday, August 12, 2010 5:38:29 PM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
Peni mbili has this friend ever lent you money or sorted out in any other way? If he has, then lend him. If he has never, he is not your friend but a parasite and you should consider anything lent a donation. Friendship is about reciprocity dude.
Life is short. Live passionately.
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sparkly
#17 Posted : Thursday, August 12, 2010 5:40:43 PM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
Peni mbili has this friend ever lent you money or sorted out in any other way? If he has, then lend him. If he has never, he is not your friend but a parasite and you should consider anything lent a donation. Friendship is about reciprocity dude.
Life is short. Live passionately.
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VituVingiSana
#18 Posted : Thursday, August 12, 2010 5:44:40 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,354
Location: Nairobi
My 2 cents wrote:
My friend has approached me for a loan knowing fully well that I have the funds. How do I proceed? Do I risk our friendship by loaning/not loaning the money? From experience I know he is not fiscally disciplined.
Been There, Done That... NO, NO, NO...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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2012
#19 Posted : Thursday, August 12, 2010 5:49:55 PM
Rank: Elder

Joined: 12/9/2009
Posts: 6,592
Location: Nairobi
PKoli wrote:
My principle: A lady I give maximum of 5k; A man 10k.


You are rich!

BBI will solve it :)
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the deal
#20 Posted : Thursday, August 12, 2010 5:55:01 PM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
MONEY OVER FRIENDSHIP OR FRIENDSHIP OVER MONEY...
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