What do you do?
As those who have read my last post on Babble already know, my philosophy of lending money to friends of friends is don't do it. In fact, don't lend money to people you don't know. Seriously. If you want to do that, use one of those peer-to-peer lending systems like Prosper or Lending Club -- those have rules and payment systems.
But friends are another story. You have friends that go way back, friends you can trust, and friends who treat you like family.
If a friend comes to you and asks for money, here's what you should do:
1. Figure out what they're asking. You know they're in a rough spot if they're coming to you. Pride can only carry a person so far before they ask for help.
2. Ask yourself if you can help. Can you afford to lend your friend the money they're asking for?
3. Decide to give it to them (if you can), butRead More »from 7 Tips to Consider Before Lending Money to a Friend