Lending Money to Friends and Family

[Kane]

Do you lend money to friends and family, do you charge interest on the money you lend? What are your terms for repayment, especially the time frame? Well, I do not have a lot of money to lend to friends and family but when I do lend, I do not charge any interest, I can let them use the money for as long as 6 months.

 

[Henrywrites]

I gift friends and family money and not lend and it is simply because I don't always have the mind to ask them to pay me back. This has made me gift the amount that I am willing to lose.

 

[Tracy]

When you "lend" money to friends or family... you really need to consider it a gift in the long run. If you get repaid, consider yourself blessed.