Family Loans: How to Lend Money to Family and Friends and Not Regret It

Family Loans: How to Lend Money to Family and Friends and Not Regret It

It's amazing to be able to help a friend or family member who is facing financial difficulties, but money has a way of causing misunderstandings and hurt feelings. Many financial gurus advise against lending money to family members. Surveys have shown that 45% of people that make personal loans aren’t paid back entirely. And 25% never get paid back at all! Understand that the likelihood of getting paid back isn’t great. However, each scenario is unique. It's critical to consider all of the factors before making a decision. If you’ve decided to make a loan, here are some tips to make sure you don’t end up regretting it.

Read More