A relative asks to lend money? Then this article is for you.
We tell you how to lend money to your loved ones correctly.
How to lend money to loved ones
First of all, you should not lend money to someone you do not trust, even if it is a close relative.
Secondly, don't give away your last. Agree only if there is enough money left for your own needs.
Think about what else you can do to help. Perhaps you know where to borrow or earn the required amount.
A friend (if he is a real one, of course) will be grateful for any help.
And if a person quarrels with you because of a refusal, perhaps it’s good that you refused.
Thirdly, lend as much as you are prepared to lose. No one is insured against force majeure.
Fourthly, it is necessary to clearly define the terms of debt repayment.
There is no need to say: "You will return it when you can." Also, you should not allow the borrower to miss deadlines.
Fifth, don't be shy about asking for a promissory note. If it's a large sum, draw up a loan agreement.
