Most people have let a loved one borrow money, with the agreement they would be paid back. Unfortunately, things don’t go as plan always, even if the person borrowed the money with good intentions. Thus, if you’re NOT able to answer yes to both questions I’m about to raise, it’s probably not a good idea to lend someone money.
- Usually Pay Bills On Time?
Does the individual have a track history of paying their bills on time? If no, the chances are low that they will pay you back on time.
- Realistic Pay Back Plan?
Often times the individual who needs the money only focus is that moment in time. As a result, the person usually not even thinking about when they do get paid in having to give you your owed amount out of that and basically being back in the same situation that has them currently trying to borrow from you.
What are some other good questions in your opinion to ask someone before letting them borrow money?
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