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Camille Besinga, Contributor
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May 17, 2012

Debtiquette: 6 Tips on Borrowing Money from or Lending It to Family and Friends

How do you deal with personal loans that are a little too personal? Know the right way to borrow from or lend to people who are close to you. By Camille Besinga

debtHave you ever borrowed money from a friend or lent some cash to someone you love and care about? When not handled properly, what begins as a simple loan could lead to grave misunderstandings, financial distress, and a lot of hurt and pain for all parties involved. Outlined here are six familiar scenarios you may find (or have found) yourself in, and what your proper course of action should be.

 

(First published in Good Housekeeping Magazine, Good Money section as "Debt-Iquette" in September 2011; adapted for use in Female Network. Photo by 401K via Flickr Creative Commons)

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