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Why I NEVER Loan Money To Family And Friends | Smart Money Bro

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I hope this video helps someone Giving is always better than loaning to your friends and family Blessings and continued strength!
Comment from : @SmartMoneyBro

If your bank refuses to loan you money because of your high risk, why should I?
Comment from : @belatoth1446

This is easy just say no
Comment from : @randyso-e9b

If everyone who owes me money, pays me back right now, I’d have over $4,000
Comment from : @elroco4827

If you want to ruin a good friendship, lend them money
Comment from : @elroco4827

They never pay you back If they do pay you back, it took them 6 months to pay you back
Comment from : @elroco4827

Okay me rn I’m not working but when it comes to money I never asked not one person for money,9 times out of 10 we’ll crack jokes with one another saying gimme 20 $ or whatever but I never once asked not one person for money and if they ever gave me money it’s either a birthday gift or a Christmas gift and as far as money I’ve never asked My mom always just sends me money via cashapp for myself not to be loaning to ppl I have a friend who was annoyed I wasn’t gonna chime her any money,she said how her son was sick and that she wasn’t gonna get paid until Friday so she wanted me to send her money for medicine and I told her no because he has a dad ask him she knows I’m not working so why even bother me for money I don’t like it when ppl borrow money because once you do ppl think they’re obligated to just take from you because u got it and that’s not right l
Comment from : @kizzylolo6491

I once cracked open a fortune cookie and it read "LENDING MONEY CAUSES AMNESIA"br😂😂
Comment from : @vintage35171

One of my closest friends borrowed about $1,000 from me four years ago Over the years, he has mentioned several times that he hasn’t forgotten the debt and even set a few repayment dates, but he has never followed through During this time, he has bought a car, the latest iPhone, and gone on several vacations Now, I’m unemployed and recently had surgery, which cost me a lot, and he’s aware of my situation Yet, he remains silent and doesn’t bring up the loan I truly value our friendship and how close we are, but this situation frustrates me and makes me quite anxious when I think about it However, I don’t want money to ruin our relationship, so I’ve decided to let it go, forget about the debt, and learn never to lend money to anyone again
Comment from : @arturnuraliyev8592

Family dobt appreciate when you give what you can afford to give They want what they want because they know they are not going to pay you back
Comment from : @MAXBRAIN39

Thanks for your advice
Comment from : @TrendbyyShorts

Great video
Comment from : @greghinton5424

Happened to me unfortunately A cousin asked me for money to pay rent Promised to pay me back in a month's time Hasn't returned the money since and always comes up with excuses brbrNeedless to say that the relationship has been strained, to say the least
Comment from : @roaldruss4211

But some always said a friend in need is friend indeed
Comment from : @mahonghao9971

Spot on I would also say don't borrow money from friends/family either If it's non-essential, borrowing is out of the question brbrIf it's essential, ask yourself why you're in that situation - Do you not have an emergency fund? Are you a slave to lifestyle inflation? Do you not budget?
Comment from : @notnapoleondotnet

5:22 If they want to loan money from you, they make it your business to know If they want to loan money, no questions asked, they would go to a bank or loan shark
Comment from : @Ferdinand208

I don't blame you, man❤❤❤❤
Comment from : @Batirtze-b6x

If I asked a family member for money and they turned around and gave it to me as a gift, I would still feel indebted to them all because I asked for it as opposed for them to proactively give me money coming from them The moment that I say no to them, I would feel and they would think about the money that was given to me from them
Comment from : @duanewolfe2321

They won't pay u back
Comment from : @kennymartin379

As soon as you give them money they going to expect it all the time
Comment from : @rwill6371

I remember that I lended money to a disparate friend, later came to my knowledge that he bought a necklace to his girlfriend who dumped afterward I hate him
Comment from : @s200029928

Family member owe me 2 k br3 months turn into two yearsbrAnd they cut contact because they feel shame
Comment from : @ajohonly3721

If someone cannot ever come to understand that money is a tool for safety and comfort they will never handle it correctly It is not for any kind of gratification or impulse buying You use tools for their intended purpose You don't use a shovel to hammer a nail or a pair tweezers to pull weeds from your garden To paraphrase Shakespeare, I believe from Hamlet, neither a borrower nor a lender be, for the loan often loses itself and friend Bottom line? What you earn is important How much of it you keep is more important
Comment from : @linzierogers5024

The best way to even avoid this is to simply say that your liquid is tied up in money markets Most people who have lots of liquid do that anyhow, like me So, I'm killing two birds with one stone which is saying no but I'm not lying about it either Just say, in a kind and understanding way, no
Comment from : @dyates6380

Speaking from experience, I can say loaning money to friends is a no go It is true - the old saying about friends and money I did it twice and it ended badly both times Nope, no and NOPE Never again
Comment from : @dyates6380

I lent an ex girlfriend $4000 to get her car back after it got impounded for not making payments She begged me even though we haven’t communicated with each other for 4 years She did initially promise to pay it back but hasn’t made a single payment I tried contacting her many times Long story short I haven’t heard from her in 2 years I blocked her and moved on It hurts thinking about it but sometimes you just have to accept it and learn from it
Comment from : @Yungstpatrik

I gav loan to my big sister and the hausband brbrThey was going to buying a House it was okay with me, and after they didnt buy the House and telling me lies After 7 month seing Them buying gifts to them self’s and going to vacation I asked kindly after 7 months my sister when they was thinking to pay me back in I asked with low voice and respect and didn’t say anything bad And she was yelling at me why I ask you said 1 year and morebrbrAnd in the end I was the bad guy the bad brother brbrIt feels like she throw the money on my there was so many lies from them
Comment from : @MustafaAtes-hz1yp

Loan to family and frinds changes a lot the relationship The dynamics becomes completely weird People start avoiding encounters and if they dont intend pay the loan, they desapears Anyway, loan money kills the relationship
Comment from : @endersonmonteiro2483

I tell family and friends that I'm not in the banking business
Comment from : @bobfeller604

Family definitely tends to take advantage of you My adult kids are the worst Currently, my oldest son asked to move in for a while I told him to save his money and get a place ASAP It's been 7 months and not only didn't he move out but has quit his job making $21 an hour because the air conditioning doesn't work in his truck He said he had another job but this is the second week that he hasn't gone to any job Help!
Comment from : @godschild2-yd3jy

My younger brother is behind on his property taxes and assumed I would bail him outHell no ! He buys every shiny object on Amazon and eats every meal from Door dash I am not going to dip into my hard earned emergency fund to cover his irresponsible ass
Comment from : @artmcfarter2678

I personally don't loan money to family and friends for ONE reason only and that is I am not a bank See Warren Buffet answer to his daughter when she ask to borrow $40K from him Enough said 😏
Comment from : @sazodada6549

You said that you don't want the relationship to change between family and friends If you say no to them, and won't lend them money, the relationship will change, believe me I've been there on both ends You are damned if you do, and you are damned if you don't Its a no win situationbrbrI have first hand knowledge of this, my friendbrbrMs B Churchill
Comment from : @bernaclischurchill4463

I agree I don't loan to friends and family If they need it and it's someone I care for, I will just give it to them
Comment from : @tuxedomirage02

They made their money 💰 issues my business when they asked me for moneybrNah bro I can afford to give exactly what they want I just tell people I only have $50 in my checking, which is what I keep over at my discretionary account
Comment from : @rainetravels1410

No more
Comment from : @darrylsmith6088

the best way to avoid lending money is driving a regular old good car, very easily you can say to the very few that asks for money is, I dont have any, and they believe you
Comment from : @ramship59

This is the very same concept I use
Comment from : @athall7286

Reason # 1: They don't pay you back!
Comment from : @lyndaslocs

I never ask money from anyone
Comment from : @thejaherath9665

This is a message My brother just ended up in jail and now I’m expected to pay for the lawyer and I’m out of work so I’d have to pay with my credit card 🤦🏾‍♀️😩
Comment from : @temiymahs_World

Agree and disagree There are many people that got loans from family and friends and went on to start businesses and become millionaires and billionaires Master P is a great example But I see what you are saying
Comment from : @LIWYMA

I know many cases in my country that the lender has been killed by the borrower (big amounts of money)
Comment from : @iraman315

I said something similar to my friend who needed 1k to fix his car, I simply said sure here's 1k, you do not have to pay me back, but if you don't pay me back I cant lend you any more money, this way have helped my friend, there is no change to our friendship, and he can choose to pay me back or not, there is no strain between our relationship, it also means that should he come asking for more money having not paid me back I can simply say no, no matter the need or excuse, and I don't have to feel bad for not helping my friend in needbrbrAs it happens he has paid me back £600 of the 1k I gave him, he's just in a difficult place right now
Comment from : @thinkdeep8806

Dam I wish I saw this when I was 12 my dad said the same thing though and I didn't listen
Comment from : @crippledgenius

Dude these are Dave Ramsey principles
Comment from : @keithrichardson9127

Just give them $100 and don't expect it back
Comment from : @bskinny9009

My biggest regret was placing a bet on a family member for a business It was a hard learning curve
Comment from : @Uber---Octopus_100X

Why would you consider giving a stranger money 🤨🤦🏽‍♂️
Comment from : @genestepney

I had a close family member ask me to take out a car using mt credit and promised to pay the notei ran for my life!
Comment from : @preciousprecious7581

I agree I would add that I would not go into business with family and friends I do business for and with strangers if things go sour, there is no issue with parting ways
Comment from : @docgravenshmit6692

They don't pay you back My sister "borrowed" money from me like 20 times and not a cent to be seen And she has he nerve to say "May I borrow? I'll pay you back" I told her "you never pay so I'll never lend you" Boy, she got pissed for about 3 months 😂
Comment from : @joey525

In 1982 when I was about 21 I made the mistake of telling my aunt how much I got on my first income tax return Immediately she wanted to borrow fifty dollars I gave it to her, telling her i needed it back within a monthbr brA month and a half went by, and I ended up calling her, feeling it was a shame I had to hound for my own money In that week she mailed me an envelope: my aunt only sent me $40 I could hear her voice in my head: "You better be glad I sent you THAT!!" She caught an attitude over MY money! It was the first of many times family hit me up for finances until I packed my bags in 1995 and moved to NC from NY My family was too needy, able bodied and the majority of the askers were males And another thing: I realize anybody can fall into hard times, but I think men have ways and can get money when women cannot They are supposed to be providers Men asking women for money are weak
Comment from : @darlenebattle2713

Just say no !!
Comment from : @AndrewGuyton-fq1je

If the person is honest, it’s okbrbrBut, generally, one should never lend money to people, because they don’t keep their wordbrbrThe borrowers also act like paying back their lender isn’t a priority It’s very inconsiderate of them
Comment from : @chadmorgan9593

When I made my comment it was at the beginning of your video and I had a feeling you were going to say what my first comment I placed on your videobrbr If I can afford to give it to them I will give it no strings attached!! brbr But I do make it clear I can't do this all the time😂!
Comment from : @Neozio

That's what kills me about having a friend and I loan you money and if something happens something happensbrbr The advice I give you the people you're better off being up front instead of ducking and dodgingbrbr Because when you ducking Somebody now you got that person's mind wandering Is there something wrong with? Did you go to jail? Are you just avoiding me? brbr All those what is start the pound with you somebody to mine and that's not goodbrbr Anytime I have a situation with money I am upfront with peoplebrbr Like they say 10 is what happens to us and 90 is our attitude when something happens
Comment from : @Neozio

I feel the same way, I rather give it, help them brainstorm and pray that God blesses them, than lend it and start watching how they spend money brbrI dont like discussing money, i dont borrow money, and i wont lend money if it will hurt me that they dont pay it back Giving is the only real option for me, and it's not gonna be a repeat thing either
Comment from : @Cee_Nelly

From the title I don't even have to watch the video Why I don't lend money to family and friends? Answer: you'll never get it back!
Comment from : @dueymiller5795

I stopped gifts, goodies and giveaways to family and friends when a couple of them admitted they knew the could "use me while holding that damn smirk on their face In other words you a suckerbrbrThis happened a couple of years ago so I announced that this suckers wallet was closed permanently For payback I sent pictures from the luxury villa in Kauai from MY vacation A vacation I earned by saving, investing and disciplinebrbrNone of them will speak to me now No card, no call, no happy birthdaybrbrThey've decided what they mean to me NoThingbrbrGood riddancebrbrLesson learned I DO NOT hang around anyone who doesn't have their $$$ together brbrI give money only to legitimate organized charities and let them determine who gets what I will direct them there but I find that borrowers love the con of "getting something out of you brbrBack in the day when I was down and out, family and friends let me down big time so I had to turn to food stamps , Catholic charities, salvation army, travelers aid to survive till I got on my feetbrbr3 months ago I returned to the salvation army that helped me years and years ago and handed the captain a check for 5 times the aid I receivedbrbrAs far as friends and family-Matthew 10:36 speaks the truth I lived it
Comment from : @1233-h1

This is very true
Comment from : @sajuvjoseph6224

I was a dummy and co-signed on a car for my cousin… was my best family friend and is now my worst enemy today 🤗
Comment from : @handleyobusiness

Luke 6:38 is a principle that I live by Just as you shared, I don't loan money If I have it, I will give it to you As you shared give what I can without putting your own affairs in jeopardy I have learned it is ok to say, "Not this time"
Comment from : @jeannetterobinson3748

I don’t lend money to family or friends; I give them the money and don’t expect to get it back!
Comment from : @cherylT321

Giving is great as long as you arent enabling their bad behavior
Comment from : @jaredbills72

And it's a lot easier to ask for your $ back from friends than family too, months and yrs can go by and they dont bring it up unless you ask about it lol So if I lend $ to family I already count it as I'm helping them and not expecting it back
Comment from : @thisguyrighthere4634

For realbrBreaks family apart just over a few hundred dollars or morebrbrYou want money, go to quick a loan placebrbrWhen family borrow money from family, theres no consequences brMaybe one day youll get it back, maybe they will push it long enough for u to forget about it Why u crying over $20brbrJust a bad idea
Comment from : @DanielGarcia-zz9eg

I give what I can I don't loan because many ppl won't pay back
Comment from : @bridgettetraveler658

With my rental properties, I do not rent to family or friends, I did it one time with my first rental, after two great renters in a row, I rented to family Turned out to be a disaster!
Comment from : @mojavedesertsonorandesert9531

Giving them and no strings attached is the best option❤
Comment from : @martinmusokem5765

I’m sure you have a lot insightful things to say about finances… but you took too long to land your plane brbrMake your points within seconds or viewers will move on to the next video, like me! brbrMoving videos into podcast and other platforms is my profession Take the advice
Comment from : @rcrcapp8855

How do you determine how much you can afford to give to a friend or family member? What factors do you consider?
Comment from : @sandrarobinson4448

I don't loan money to friends and family is because when they say borrow, they actually mean "have" Meaning that money is gone forever
Comment from : @RT-wl7io

I agree 💯 with you on that!
Comment from : @aaronaustrie

I dont loan money to especially family and freinds, but I GIVE I tell them its a loan so they dont ask too often 😂
Comment from : @samialkhammash1985

I don’t give money every time family and friends ask because most of the time it’s like feeding a stray dog They come back for more and treat you like their own personal credit linebrbrAs a giver you have to have limits because takers don’t have limits
Comment from : @cmartinjr2

Pro tip- never touch your savings how hard/bad their side of story isi repeat never (if you lend money to 10 of your friends, only 2 will return it)
Comment from : @bornkiller8168

I've learned the hard way Money is the foundation of most business transactions So I no longer loan money to someone close to me because if you need to ask me for a loan it's an indication that you haven't been handling your money well That means the chances that you will honor the commitment to pay the loan back timely and in full are very low Why? Because you believe if I value our relationship you most likely believe that not paying back the loan is something I should accept So I won't loan money but will give the family or friend half of the requested amount with the understanding that I'm not an ATM, so don't expect any future withdrawals
Comment from : @blktester