Wijdan Albassam

EAP-1 News Talk

Sep 15,2011

Author: By J.D. Roth

Title of article:

The right way to loan to family and friends

http://moneyland.time.com/2011/09/16/the-right-way-to-loan-money-to-family-and-friends/

Date of article: September 16, 2011

Short summary:

This article talks about lending some money to a friend or one of family members and you say yes to help him. The question is “Are there any side effects of lending money to them?”. Always people lose their friendships because of money. Some people decide that they will never lend money for anybody from their friends or family. If somebody ask them they say “sorry, but I never lend money for anybody I know”. Also, it is not always that lending money to a family member or a friend can cause problems. But you should make sure that they need the money urgently and they are willing to pay back before lending them the money. In addition, you have to be smart about: discussing other ways to help him. Moreover, it is recommended that you write everything in paper, and in case of any delays try to discuss the problem together.

My opinion:

I agree with writer about negative effects between money and relationships. For example, my father lent my uncle some money and after that my uncle delayed payment. In that period we did not talk together as family.

Issues that you can find:

Do you think your relationship will be affected by loaning money to your friend?

Did you loan or borrow money from your fried or your family and had problems?

What are the side effects if did not pay back the money?