They say that if you lend money to a friend, you can end up without both the money and the friend.
We'll tell you how to avoid this.
How to lend money correctly
First, don't be shy about asking why you need the money.
If a person is in trouble and you have the desire and ability to help, then you should do so.
If you are asked to lend money to buy an expensive phone, that is a different situation.
Such a purchase can be postponed until better times. You can also buy a model that you have enough money for.
You can also use installments. Offer these options to the person asking you for a loan for entertainment.
Secondly, you should not lend money to unreliable people. Even if it is a person you consider a friend.
If a person does not repay debts to anyone, you should not expect that you will be an exception.
Thirdly, lend an amount that you wouldn’t mind losing.
If a person needs a large sum, recommend that he take out a loan.
If you decide to do so, draw up a loan agreement with the debtor at a notary’s office.
