When times are tough, we want to help those close to us if we can — especially if they're family. However, long-lasting money lessons are sometimes more valuable than a quick fix such as a lump sum. Exhaust other options first.Before lending out a large amount of your own money, hel...
Aside from the financial implications, it’s also important to think about how likely you are to get the money back. If the friend or family member who’s asking for a loan is responsible about paying their bills and experiencing a one-time financial crisis, being paid back might not be ...
To be honest with you, I try my best to avoid getting loans from people that I know. Don’t get me wrong, I’ve got a credit card and purchase items on finance, so that’s technically borrowing money. However, I never do it ...
Lending circles provide a means of borrowing money with little to no cost. Discover ways to build credit with this method.
Loans from a relative or friend: Ask a trusted family member or friend to borrow the money you need. Be sure to put the agreement in writing to avoid any confusion. It’s equally important to repay what you borrow on time to avoid damaging the relationship. Earn extra cash: Pick up a...
It’s often paraphrased and used as a warning about the dangers of lending, and how you could risk a friendship through it. But why can lending money be so detrimental to our friendships? If our friend or family m...
Last week the Central Bank approved a new lender, UK-based Amigo, which will offer loans – each loan must have a guarantor – at rates of 49.9 per cent in the Irish market. Its arrival, early next year, will bring the number of moneylenders regulated in Ireland up to 39, ...
If our friend or family member comes to us forhard cash, it can be very difficult toturn them away. You feel under pressure to help. And if that money doesn’t come back, it can lead to fights or evenlegal battles. So how can we, as the lender, avoid these complications? According...
Peer-to-peer lending is a term that can encompass both lending to family and friends and more formalprivate lendingarrangements. Many of us have relied on peer-to-peer lending, at least in a casual situation. If you have borrowed or loaned money to a friend for lunch or to help out in...
A lending circle is a centuries-old lending method in which a group of people, usually family or friends, regularly pool a specific amount of money and give it to one member of the group. This continues in a cycle until all members receive a payout from the collective pot...