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I have a friend who I have personally lent $12,000 to in the last 5 years. He is my best friend as you can tell… Of the $12,000 dollars I have lent him, he has paid back about $5000. Not bad but not great. Before you guys jump all over me I stopped lending him money about two years ago and have him on a monthly repayment plan. So far so good.

I really didn’t want to share this with every one but the fact is friends will ask for money and it can in many cases lead to the end of a friendship. I would highly recommend people learn from my mistakes.

Because my friend is on a monthly re-payment plan we are able to stay friends. If he just “shined” me there is no way we would still be friends today. Bottom line, think twice, three times and then thing again before lending substantial amounts of moneys to a friend. More likely than not lending money to a friend who is not capable of paying back the loan will be the end of the friendship.

Technorati Tags: money, lending money

This entry was posted on Saturday, November 18th, 2006 at 9:56 pm and is filed under General News . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.