Borrowing Vs Lending ; Which Are You Comfortable With?

Discussion in Loans started by Heatman • Oct 9, 2017.

  1. Heatman

    HeatmanActive Member

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    Are you more comfortable lending money to people, be it your friends or a stranger or are you more comfortable borrowing? Personally, I really don't fancy borrowing money from anyone or anywhere, not banks or cooperate individuals.

    This is actually because I don't well being a debtor. It deprives me of my peace and rest of mind and body. It practically gives me a push up in my blood pressure should I by accident bump into the individual that I borrowed such fund from.

    What's your pick, borrowing or lending?
     

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  2. mildredtabitha

    mildredtabithaActive Member

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    I am not comfortable with either. I really don't like borrowing because it isn't a good feeling when you can't do something for yourself. When someone knows that you depend on them, they will try to control you.

    I am also not comfortable with lending. I can do it once in a while but it is really hard to determine the credit worthiness of a person unless you lend them money for the first time. Also, someone can take advantage of your kindness.
     
  3. nangk08

    nangk08Active Member

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    I am neither comfortable with borrowing nor lending. I have borrowed money from banks in the past and until I didn't pay off the last bit, I simply could not relax. So unless and until, it is really really necessary I would not borrow money from banks, I would never never borrow money from individuals - be it family or friends. I would also avoid giving money to people I know as a loan because I have had really ugly experiences while getting the money back.
     
  4. Alexandoy

    AlexandoyWell-Known Member

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    Some friends tell me that I have been a changed man. Where before they could borrow money from me so easily and not pay it back, now they have to pass by the eye of the needle, so to speak. When it comes to borrowing, I evade as much as possible. There are times that I help by giving but not by lending. With borrowing, it is now the bank that we turn to because borrowing money is the root of quarrel among friends and relatives.
     
  5. Heatman

    HeatmanActive Member

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    You definitely understand my predicament with lending money to friends. The problem is that you would have difficulty in asking them to pay you back considering that they are friends. Some dubious friends tend to take advantage of their friendship with others and make away with their money.

    If you try making a case out of it, people would label you the wicked and insensitive friend, without knowing that you are the one on the suffering end.

    Like you said, I really try so hard to avoid lending money to friends, but rather I would offer grant on how much I could easily give for free. This makes issues less for me.
     
  6. dane

    daneMember

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    I don't believe in lending friends money or borrowing from friends. If I'm ever in a financial fix, I would rather look to borrow from the proper, official sources like banks or the short term lenders than to borrow from friends. Also, I would never lend money to a friend. If I have the money, then I would rather give it to them than lend it. I've had a few experiences with lending money to friends that have left me wary of doing that ever again in the future.
     
  7. kamai

    kamaiActive Member

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    I am very uncomfortable with both actually. I really am imbarrased when I have to borrow money because I know what the other person thinks and what they think is if I will ever pay them back. I really hate to let people know that sometimes I have money trouble and that I am not able to do things myself sometimes. For letting borrow someone money it is also uncomfortable as I really don't know if they will pay me back especial because I know I will be needing it back because I am also in need.
     
  8. Heatman

    HeatmanActive Member

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    Friends are the biggest liabilities one could ever have, and the funny thing is that you cannot easily ditch them in your good times, otherwise they would have a great scorn for you and painfully saying that you dropped them because things are good now for you and you decide to dump them.

    What I prefer to teach friends how to make money than just be lending them money. Lending them money would make them perpetual slave to you and they will keep asking for more and you will eventually keep on giving them.
     
  9. PriscillaKing

    PriscillaKingNew Member

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    "Neither a borrower nor a lender be" is generally a good idea, I think.

    I like sharing and trading better than borrowing and lending.

    On the other hand, I'm quite comfortable borrowing from public libraries--that's what they're for.
     
  10. littlewitch66

    littlewitch66Active Member

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    I don't mind lending money, in fact there is someone who regularly does it but she always pays it back. Sometimes I feel a little irritated that she can't manage her finances better because she actually earns more than I do. I only ever lend to people I know will pay it back now as I've been taken for a ride once or twice.

    I used to borrow off my mum when she was alive but I always paid her back and it wasn't that often. I don't feel comfortable borrowing from anyone else so the only time I do now it is if I have forgotten my purse or card and then I pay it right back.
     
  11. PriscillaKing

    PriscillaKingNew Member

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    Neither actually. I'll "lend" money if I have it and can afford to write it off, in my mind, as "giving" money. Then if the person does pay it back I can be happily surprised... :p

    I'm more comfortable trading. That happened this morning...a friend bought a hat I'd knitted for her daughter. She's bought a few dozen hats for this daughter, who is thirty years old and ought to be able to hold on to a winter hat, over the years. She was just being supportive while I track down an e-payment.

    I'd rather work out some kind of trade if the other person needs the money, too. If I pay Tracy for work done, even if I could have done the work myself and Tracy knows it, then when Tracy has more money Tracy can remember me as a trading partner rather than a creditor. So in the best-case scenario Tracy would then pay me for something, to keep things nice and even, and everybody wins.
     
  12. Kimika

    KimikaActive Member

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    I don't lend money even to friends. If ever they ask for help and I have the extra cash to help them, then I would just give it to them and they can pay me back whenever they have the extra cash. I do this since some of my friends lend me money too and they do the same thing. but the difference is we do pay each other after a week or two. Me and my friends have this phrase whenever some of us won't pay and ask for help, it goes "how can you get more water if you've used up all the water and never refill the pitcher?".
     
  13. tallulah

    tallulahActive Member

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    I think this differs from individual to individual. Like so many people have stated here, I would never borrow from friends or anyone outside my family circle. The experience is terrible and you often end up being enemies. Nor would I lend money to a friend as well. However with my family, it is a different situation. Fortunately, I have a very close relationship with my parents and siblings and we have borrowed or helped each other financially when it is needed. And it has never been an issue.
    Borrowing from a financial institution must be avoided if possible. It is trap-hole that may take years to pay back.
     
  14. Heatman

    HeatmanActive Member

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    This is actually a nice way to go about money related issues, personally I don't appreciate getting into sour relationship with someone close to me or one I considered a friend because of money problem. The money was there before we became friends and it's not worth being the reason we disintegrate our friendship because of it.
     
  15. Heatman

    HeatmanActive Member

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    @Kimika@Kimika This normally what I do when it comes to lending money to my friends, it's just best that I give them as grant something that I would easily forget and not expect payment of it than lending the friend money in case he or she can't pay back, it wouldn't be a problem between us.

    It's actually a normal thing for those close friends to take advantage of their friendship with someone in not paying money they borrowed, so in order to avoid getting the relationship sour and friendship broken, it's always best not to lend.
     
  16. Heatman

    HeatmanActive Member

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    @tallulah@tallulah Families are always different from where I stand in lending and borrowing money. In fact, I don't consider or expect any money that I lend to either my parents or siblings to be paid back. They are blood for crying out loud, so my money is their's as well literally.

    In as much as they called it borrowing money from me, it's simply as helping my blood out in whatever situation they found themselves.
     
  17. Krissttina Isobe

    Krissttina IsobeWell-Known Member

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    Like most people I'm uncomfortable with both borrowing and lending. Luckily everyone I know owns a car so they don't need to borrow money from me, lol. I don't even like to use my credit card too much, but have them for good credit rating and for the just in case situations.
     
  18. Kimika

    KimikaActive Member

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    I agree, just like you said we can also help them with something that won't hurt us financially even if they don't pay us back. Luckily, my friends pay what they owe me since I also do the same thing whenever I borrow money from them. Maybe it's because we have been friends for years and we don't want to have a problem just because of a few bucks that aren't paid.
     
  19. Heatman

    HeatmanActive Member

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    It's that not all people are dubious, there are still good ones out there that truly value friendship and relationships, without looking for ways to exploit such association. They would rather give up some things willingly just to maintain their relationship, even if it means giving up the desire to cheat a friend.
     
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