Comments on: How to Borrow From a Friend or Relative without Losing the Relationship http://moneysense.com.ph/debt/how-to-borrow-from-a-friend-or-relative-without-losing-the-relationship/ Save, spend, and invest wisely Wed, 02 Nov 2011 09:09:34 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: not-a-happy-lender http://moneysense.com.ph/debt/how-to-borrow-from-a-friend-or-relative-without-losing-the-relationship/comment-page-1/#comment-57378 not-a-happy-lender Thu, 11 Aug 2011 01:11:51 +0000 http://moneysense.com.ph/wordpress/2008/10/how-to-borrow-from-a-friend-or-relative-without-losing-the-relationship/#comment-57378 i must say, "same same" since my current situation is a good example of this write up. I just want to share my story. I lent a friend last April 2011 - exactly a week before his wedding promising that he will pay me back a week after. As far as I know, he knows how to manage his finances and is involve in stock market trading (even until today). I trusted him because he seems to be trustworthy. A week after I was expecting my money in my bank account but no money was deposited. I waited for a few days but still no money came. Not even a call or an sms or a message in facebook or twitter. I felt bad because I had to ask him about it. A month after I lent him I sent him a message through facebook asking when he can give back my money. He told me there were emergencies and finances were tight. I wanted to confront him but I opted to keep quiet and just told him to pay me when he has money already. Two months passed without any call or sms. I was tired and annoyed of him so I sent a message through Facebook telling him that I need my money this August to pay my insurance fees. I am hoping that he will pay me this month. If not, I will be forced to charge him extra because my money should have been invested in my mutual fund account only if he did not borrow it. The worst thing was, I channeled him to my boyfriend letting him borrow a huge amount of cash. So now I am worried. Smart tips: 1. Never let your friend borrow money from you if you don't want your relationships to be ruined. 2. Advise friends but never let them get into your finances, v.v. To the borrower: 1. Pay your debt on time. 2. Never borrow and blow everything in a one time event, ex: wedding 3. Promises are promises. i must say, “same same” since my current situation is a good example of this write up.

I just want to share my story.

I lent a friend last April 2011 – exactly a week before his wedding promising that he will pay me back a week after. As far as I know, he knows how to manage his finances and is involve in stock market trading (even until today).

I trusted him because he seems to be trustworthy.

A week after I was expecting my money in my bank account but no money was deposited. I waited for a few days but still no money came. Not even a call or an sms or a message in facebook or twitter. I felt bad because I had to ask him about it.

A month after I lent him I sent him a message through facebook asking when he can give back my money. He told me there were emergencies and finances were tight. I wanted to confront him but I opted to keep quiet and just told him to pay me when he has money already.

Two months passed without any call or sms. I was tired and annoyed of him so I sent a message through Facebook telling him that I need my money this August to pay my insurance fees. I am hoping that he will pay me this month. If not, I will be forced to charge him extra because my money should have been invested in my mutual fund account only if he did not borrow it.

The worst thing was, I channeled him to my boyfriend letting him borrow a huge amount of cash. So now I am worried.

Smart tips:
1. Never let your friend borrow money from you if you don’t want your relationships to be ruined.
2. Advise friends but never let them get into your finances, v.v.

To the borrower:
1. Pay your debt on time.
2. Never borrow and blow everything in a one time event, ex: wedding
3. Promises are promises.

]]> By: Fred Villarama http://moneysense.com.ph/debt/how-to-borrow-from-a-friend-or-relative-without-losing-the-relationship/comment-page-1/#comment-11852 Fred Villarama Thu, 04 Feb 2010 10:16:39 +0000 http://moneysense.com.ph/wordpress/2008/10/how-to-borrow-from-a-friend-or-relative-without-losing-the-relationship/#comment-11852 nice. very well said nice. very well said

]]> By: Edmund Lao http://moneysense.com.ph/debt/how-to-borrow-from-a-friend-or-relative-without-losing-the-relationship/comment-page-1/#comment-774 Edmund Lao Sun, 08 Mar 2009 00:06:21 +0000 http://moneysense.com.ph/wordpress/2008/10/how-to-borrow-from-a-friend-or-relative-without-losing-the-relationship/#comment-774 Better not to lend money to a friend. He may get mad with you but only tamporarily. If you lend him , chances are big that you willl have created a future permanent enemy. Better not to lend money to a friend. He may get mad with you but only tamporarily. If you lend him , chances are big that you willl have created a future permanent enemy.

]]> By: cyramiles http://moneysense.com.ph/debt/how-to-borrow-from-a-friend-or-relative-without-losing-the-relationship/comment-page-1/#comment-81 cyramiles Mon, 19 Jan 2009 12:03:17 +0000 http://moneysense.com.ph/wordpress/2008/10/how-to-borrow-from-a-friend-or-relative-without-losing-the-relationship/#comment-81 Hi Excel.. Good to see your write ups here.. :) Hope you still remember me from EPH. Cheers Hi Excel.. Good to see your write ups here.. :)
Hope you still remember me from EPH.

Cheers

]]> By: Relationship http://moneysense.com.ph/debt/how-to-borrow-from-a-friend-or-relative-without-losing-the-relationship/comment-page-1/#comment-78 Relationship Mon, 19 Jan 2009 02:32:58 +0000 http://moneysense.com.ph/wordpress/2008/10/how-to-borrow-from-a-friend-or-relative-without-losing-the-relationship/#comment-78 Lending or borrowing money is the toughest test of a relationship Lending or borrowing money is the toughest test of a relationship

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