Friend wants to borrow money
-
Aiyoh! I feel you. I am very sketical of friends joining MLM or insurance agents as well. Loosing a friends is tough. :hugs:
-
My experience. Lend money sure to lose friend especially when they will most likely not be able to pay back.
Don’t lend, friend may become distant but there is still a chance of maintaining contact. -
Ya, not easy to face a frd asking for loans esp to do a bz. I’ve lost a frd this way some years ago, but heard tt she had ended up cheating a guy to marry her & got her condo & other frds to invest but never returned those money to my other frds, claiming the bz made losses.
It’s not abt not helping out a frd, but I wld advise them find a job to save up for the bz she’s keen to do. Her hubby probably wise to put in 50% at least some faith to support spouse & she shld try find her own means for the other 50%. If she end up going to 10/20 frds for tt low 4-fig, she might succeed in getting her targeted funds but it’s not her own hard-earned. Will she feel the pain if bz goes downhill to find ways to pick bz up?
It’s not the money I’m concern abt but the frame of mind towards building her own bz. If she wants to do d bz enuf, she’ll do it with all her own sweat & blood. Is is a frame of mind "not so heart pain" to loose money not mine?
I’ve loaned some $80K to a young lady who didn’t hv last bit to complete her final year in uni & I think that itself is commendable for I’d like to give that last push of support to a young who’ve not earned her wings as yet.
ngl2010,
Hope you make a wise choice. -
ngl2010:
Although she hardly contacted me (like maybe only once every 2 years?), I feel sad losing a friend. We were close when we were still single... :sad:
That means she has already asked a lot of people and had been turned down by a fair number. Say no, that you and your dh had an agreement on both not lending money and you cannot break agreement. But if she is opening a cafe, you will go and lim kopi in support. If she only calls you every 2 years, it is ok to \"lose\" this friend. -
ngl2010, I second that. no need to lend. if relatives, bo bian. I just kanna too. can tell her that you can be her first customer lor. true, some ppl really wont feel heartache but we will feel the heartache. dont have enough money now can wait till have enough savings first right.
-
Would you rather have the friendship or the cash? Only you can answer that and the answer will point to the decision.
Note that the friendship may cost even more cash in future.
We don’t really know the full situation, as in closeness to this person, etc. But I’m with the general sentiment… Don’t lend. May be easier said than done though. -
Funz:
if lend her money, definitely be prepared they won't return. worse case is the friend will ask to borrow again with all the 'I will return' stuff. if there is once, there will be subsequent times and no end to it.My experience. Lend money sure to lose friend especially when they will most likely not be able to pay back.
Don't lend, friend may become distant but there is still a chance of maintaining contact.
if there is no regular contact but call once in a blue moon, that call is nothing good. -
Ask yourself… If it is an amount that you can afford to lose - I will say lend it to her.
At the end of the day, it is fine to lose a friendship for a small amount.
But things may also turn out for the better.
To be honest, back years ago, I happened to be retrenched when I placed 1% deposit for a condominium.
I am surprised when a friend agreed to loan me $100K for the remaining 4% of the down-payment.
I found a job shortly after and everything turns out well.
In fact, this is a good friend from uni and we hardly contact after graduation.
Very appreciative to him and in fact, our friendship become closer thereafter. -
I am conflicted. She wants my answer tonight. Sigh... DH said he offered her a proper job a few years back but she turned it down so it is ok to turn down her request this time. :frustrated:
Hello! It looks like you're interested in this conversation, but you don't have an account yet.
Getting fed up of having to scroll through the same posts each visit? When you register for an account, you'll always come back to exactly where you were before, and choose to be notified of new replies (either via email, or push notification). You'll also be able to save bookmarks and upvote posts to show your appreciation to other community members.
With your input, this post could be even better 💗
Register Login