Get Someone to Pay You Back After Lending Them Money

Published Date 7/15/2013
Category: Career & Finances

Making sure your friend pays you back after lending money

If you have a friend who you can rely on for virtually anything, you might be willing to immediately lend him money, right? Not necessarily, especially if your pal has a history of financial instability.

It can be difficult to trust other people with money, even friends who've been there for you through thick and thin, but what if your loved one truly needs financial assistance? How do you lend him money and ensure that you're going to get it back?

The Los Angeles Times recommends creating a set of ground rules for the situation regarding when you're going to get the cash returned to you, as well as how it's going to be spent. Make sure your friend knows these terms before you give him the money.

Next, the National Foundation for Credit Counseling recommends only lending as much money as you can afford. Overstretching yourself can end up hurting your own finances.

Finally, speak to your psychic if you're interested in finding out how your friend is going to manage in the coming months. A tarot reading can also let you know if you're going to get your cash back in a timely manner.

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