What I have told people who ask to borrow money. From beggars to family.

Sometimes I feel like I have arrows pointing at me with blinking lights “This fool will LEND money to ANYBODY”. I know it’s because I look like one of those nice people who seems easy to talk to. I also seem to have money when things come up ( car breaking down, something in the house breaks, etc). Yet, people don’t realize that money is for me. Not for them to borrow. Trust me, I’ve dealt with people who have panhandled to close family members giving me some sob story. Here are some things I have said. Some may have not been so nice.

Panhandlers ( Homeless people, Especially tourist areas)

-“No”

-“I don’t carry cash”

-“Your begging for money, and you have an Iphone?”

Friends (Also coworkers)

-“I don’t lend money to friends because I don’t want money to affect our friendship”

-“I’m just as broke as you.”

-“I don’t have kids, but I do have this massive student loan to pay down.”

-“My husband said no more lending money.”

Family

-“No”

-“Your asking me for money and yet you make more than me?”

-“I have my own bills to pay with my money”

-“Do you really want me to be late on my bills?”

-“My husband said no more lending money.”

In my opinion, lending money is always a bad idea if you are expecting it back. Many financial experts always say to draw up a contract but I think it’s impersonal to do that. There is a reason why people would want to borrow from you is because there is no contract involve. The hardest thing about not lending money is sometimes you know the borrowers may be on the brink of losing their home, car, etc. This is where “tough love” comes in. YOUR NOT HELPING THEM if this is a recurring cycle.

Many times they are asking because they are thinking of themselves. The best way to respond is you have your own life to think about. By helping them, you are putting yourself in their situation. Do they really want that? Of course if that person has a soul, they will respond with “No” and won’t ask you again.

What have you said to people who ask to borrow money?

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