BDJUF's lesson of the day: Never financially help out your friends
 

One friend wanted to buy an expensive cellphone off ebay, but didnt have a paypal accout. He told me to pay with paypal and that he will give me cash by the end of the week. 8 Months have now passed, and every time he tells me that he has new expenses to take care of and I am next on his list.

Another friend I do business with, help him out for a few Gz but now that biz is slow, hes having a hard time paying me back.

Both are good people, both are good friends, but its me who ends up suffering in the end while they got a no interest loan until they are ready to pay.

DON'T FINANCIALLY HELP OUT FRIENDS

Yeah, i agree!

$ and friends, dont mix that shit.

Friends and money don't mix..

those aren't friends

thats a easy one. if they're really good friends give them the money dont loan it to them. if you ever loan money to a friend it always ends up fucked up. so only give money to those you really consider such good friends that you would just give it to them not loan it.

pretty common sense

:thumbsup :thumbsup

Yep Digipimp nailed that one :)

DH

I learned this the hard way too :(

the day after i help out a friend you post this..................

lol

Everytime I loan money to someone I tell them to give it back whenever they want and that I won't stalk them or ask them back for it.

80 % of the time I end up not getting it back.

great advice :thumbsup

Yep, that's how it usually works out.
Sometimes giving a little help doesnt hurt. Choose wisely though.

For god sakes, $$$ and friends/family do not mix...trust me. it's hard sometimes, But i'll never so much as make a job recommendation for friends/family anymore. It's just not worth it.

bro, you can always trust me :)

i have never fucked you over and i think i helped start you in this world :)

lending to friends is like giving money.. I feel your pain

Loaning is like gambling. Never put up money you can't afford to lose.

And don't break up the relationship over it. A lot of people say "oh if he doesn't pay you back he's not really your friend." Nah, not really. In general people just aren't good with finances, thats why they need a loan. Just write it off as an expensive lesson learned, and don't be a prick about it either.

Next time if you really feel inclined to loan some money, take collateral. If they refuse to put up collateral, they don't want the money bad enough.

I always ALWAYS get my money back from friends. I don't know why everyone has a damn problem, quit being so nice. I have loaned money to dozens of people and don't pester for it back unless I need it. It might be 1 month later or 12 months later but when I decide to collect they are going to pay. I don't care if we have to go pawn every "toy" they own I get my money and they can borrow again some other time with no hard feelings.

If I were to loan money to a friend, I would internally consider it a gift. That's the only sane way to approach it.

Unless, if it were a very formal transaction involving alot of money, then a contract would be in order.

Welcome to the real world...

dejavu
didnt you make this type of post before?

Ive done that for people I get the money first.

if you lend money to a friend or relative, might as well consider it a gift.

agreed:2 cents:

A real friend would have busted his ass to pay you back. A real friend will always keep his or her word to you.

the phone guy is playin you for a fool, take that shit back

Hit him up on his payday and ask him if you can borrow the same amount...

Agreed...

just give them the money then you don't have to worry about it ;)

Loaning money to friends... just consider it a gift and hope your friend does well or don't do it at all.