The Power of NO

I have both lent money to and borrowed money from friends and family multiple times, just did both in to his head last 4 weeks. It absolutely can be done and can work, just has to be with the right people and with everything set our clearly. I've been doing this for over a decade and would be hundreds of thousands worth all up.

I've got an aunt who's a single mum on a low wage, ive been paying her 9% pa on some funds for a while now, I'd rather pay a family member who could use the funds than an external party; it is significantly more than she could get from the bank etc and helps with her expenses a fair bit. For me, it provides extra capital which I always need. I have also lent 6 figure sums to friends on a handshake and see every cent back plus a good return. Just recently a business im involved in needed some funds and we paid someone 6k interest on a 60k 3 month loan, why wouldn't I want to pay that to a friend instead of some random?

To completely dismiss the idea is silly imo but I do agree it can cause complications if not done correctly or with the right people.

Also agree green behaviour towards Andy was shocking, some really entitled people out there.

 

... @EN710 its just a term my friend and I created to mean 'the entitled' 'the no hopers' 'the goners'. Gonski Alamonski captures all that for us.

 

Well if you lend money don't expect to get it back....

I have lent 3k in one instance and 5k in another both to friends. The 3k I still have not got back to this day...the 5k...was returned with interest....

As for Sri Lankans....they will lend to friends or family to get them out of trouble.

If you have the means and have determined a cap of how you can help why not??

 

Beanie
shhhh!