How not to lend money to friends without spoiling the relationship

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May 19, 2022, 14:35 | Business

When lending money to relatives or friends, there is always a risk of not getting it back.

< img class="aligncenter" src="/wp-content/uploads/2022/08/jak-ne-davati-groshi-v-borg-znajomim-i-ne-zipsuvavshi-vidnosini-a030d93.jpg" alt="How don't lend money to friends without ruining your relationship" />

Lending money to relatives or friends always runs the risk of not getting it back: the economic situation is unstable, and some people become strangely noncommittal when it is about debts to loved ones. And if you don't lend, they will be offended… here are some ways to gently refuse financial assistance and not hurt a person's feelings, informs Ukr.Media.

A difficult situation

Perhaps you give the impression of a well-off person (or in fact you are), which is why those around you ask you for a loan. However, this does not prevent you from referring to the lack of money. Say that you yourself got into a burdensome loan (wedding, vacation, paying for education, dental treatment) or have already lent all your free funds to another person and now you are trying to make it to the salary yourself.

"All the money is in the case"

Let's say a person knows that you have savings – what to do in this case? Say that you invested all the funds in securities, put them in a bank deposit without the possibility of withdrawal before the deadline, or invested them in a promising project.

"Contact later"

The tactic of avoiding an answer is that you do not promise anything definite without agreeing or refusing. " At this moment, it definitely won't work, but in a week I have to repay the debt/issue a bonus…". Most likely, the "borrower" will not wait and will try to borrow elsewhere.

Go on principle

"I never lend money, this is my principle, and there are reasons for that!". This phrase, said in a confident voice, should be enough to close the question. Undoubtedly, modest people find it difficult to be refused and any “no'', but it is better to make an effort on yourself, mark boundaries and protect your interests, otherwise your financial stability will always be at risk. It is impossible to be good and flawless for everyone, otherwise very soon they will sit on your neck. And if you learn to say no, you'll eventually stop getting those requests.

Offer other help

You can immediately respond to a request to lend money with a polite refusal, but at the same time clarify whether you need help in some other form. For example, act as a guarantor in a bank, help as labor force, connections or valuable advice. The main thing here is to give the person an alternative.

Set a strict deadline

Directly ask the interlocutor when he intends to return the money. After hearing the date, say that you will need the money before this date, and you cannot risk it. To the offer to re-borrow someone else's turn, answer “I don't borrow on principle''. or "no one else!".

Pretend to be a fool

" Today, the Moon is waning, Mercury is retrograde, and in general, the period is such an unfavorable one, you can neither take nor give money, it was written about this in Vanga's forecasts, and it was confirmed on TV. Nonsense? Perhaps. But you have the right to believe in anything, and who will blame you for this?

  • When refusing a friend or relative, be calm and do not get emotional. Gently convey your point of view to him and do not enter into pointless arguments.
  • Offer an alternative: physical or humanitarian aid, useful advice.
  • Do not give harmful advice: for example, do not recommend borrowing money from microfinance organizations.
  • Analyze the person's recent behavior – has he become dependent on loans?

There are cases when it is worth giving in to the principles, for example, if it is about health and life. But deciding whether to lend money is always up to you and only you. Better teach your friends how to save from their paychecks with these simple methods.

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