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Would you lend a large sum of money to somebody?

(214 Posts)
Swirlyceiling Mon 22-Jun-20 22:20:45

As in 2 or 3 grand upwards.

To me, this is a lot of money. I think there is only 1 person I'd lend this to. 2 if they were absolutely desperate.

I've had to chase people for small sums or been left feeling awkward after I have done something kind to try and help somebody out of a tight spot, so I don't like lending people money any more. Not that I have lots to spare anyway.

Just wondering if anyone else feels this way or if I'm just tight?

OP’s posts: |
Bluebird3456 Mon 22-Jun-20 22:21:32

Nope I wouldn't.

Bookaholic73 Mon 22-Jun-20 22:24:11

Only if I didn’t expect to get it back.

greensnail Mon 22-Jun-20 22:26:30

I'd only lend it if I'd be able to write off the money if they didn't repay for whatever reason. I wouldn't want to lose a friend or family member over money so if I couldn't afford to lose the money I wouldn't lend it. There are a couple of close family members I would lend that sort of money to if needed.

Thelnebriati Mon 22-Jun-20 22:28:35

Its like gambling, I never lend more than I can afford to lose.

Hibbetyhob Mon 22-Jun-20 22:29:10

I’d lend it to my brother without hesitation. Likewise I can think of 2 friends I would happily lend to.

However, I would also make sure I could afford to lose it.

Sunnydayshereatlast Mon 22-Jun-20 22:29:49

Have never been in a position to lend anyone money!!
Did get ds out of a tight spot with rent arrears last year. Literally the exact amount in tax I got back!! He paid it back quickly.
I have never borrowed more than about 20 quid. Sale item, no cash that week or similar...

NoMoreReluctantCustodians Mon 22-Jun-20 22:30:33

Not after some of the stories I've read on here. I dont have the sort of money to be able to just give that amount away and not expect it back

myusernamewastakenbyme Mon 22-Jun-20 22:31:13

Nope...ive worked and saved way too hard for my money....too many people who dont take responsibilty for themselves and expect others to bail them out.

Merryoldgoat Mon 22-Jun-20 22:31:19

I don’t lend money. I only give money if I can afford to not get it back.

Aurorie11 Mon 22-Jun-20 22:32:52

Recently lent my Dsis 2k as found out she had this on interest payable credit cards (plus some more on 0%) cards. I know she will be in a position to repay in 6-9 months linked to a bequest. Happy to do this so she’s not paying interest and we are getting tiny interest at moment.

Swirlyceiling Mon 22-Jun-20 22:33:02

I think if I ever lent anyone that sort of money, it would be at the detriment of my own savings pot, which isn't huge and is there in case of emergency. And most people I know wouldn't be able to pay that back quickly, or at all.
I've been asked to let a relative borrow £150 before and I know it's not a huge amount, but they had blown all of their own money on nights out, so my answer was no. 🤷‍♀️ I was given a lot of flack for it.

OP’s posts: |
DramaAlpaca Mon 22-Jun-20 22:33:07

I do not and would not lend money to anybody.

If I had the money and they needed it I would give it to any of my children without hesitation, but not a loan.

SlatternIsMyMiddleName Mon 22-Jun-20 22:33:40

I did, to DH’s sister to help her with a house move.

She made out a repayment schedule and stuck to it religiously. Every payment made on time. Every penny returned.

Not sure how many other people I would trust.

Alsohuman Mon 22-Jun-20 22:35:37

I’ve done it. I lent a colleague money when she hadn’t been paid - NHS payroll cock up - and needed to pay her rent the next day. I got it back the moment she was paid. We had a good natured argument because she wanted to pay me interest.

snowybean Mon 22-Jun-20 22:35:42

I lent my best friend of 28 years £1,750 to get her out of a spiral of overdraft fees. She set up a standing order and pays me back a bit every month.

Helped her get back on her feet again.

hellsbells99 Mon 22-Jun-20 22:36:00

I would my mum, sister, brother and daughters. I have a couple of close friends that I would lend to if they were absolutely desperate.

Lougle Mon 22-Jun-20 22:37:07

I wouldn't loan anything I couldn't live without.

Samtsirch Mon 22-Jun-20 22:37:40

It would depend on the person and the reason for the loan.
If I had concerns I would consider a witness and some sort of legal contract regarding the repayment terms, although I don’t know very much about that sort of thing.

Shinebright72 Mon 22-Jun-20 22:38:25

No.

LochJessMonster Mon 22-Jun-20 22:38:31

My sister or my parents only. Because I owe them more than any amount of money.

Nobody else.

frazzledasarock Mon 22-Jun-20 22:38:51

To my best friend, if I had the money I would in a heartbeat.

She’s closer to me than my sister and if she needed anything I had I’d give it to her immediately.

I know she’d repay me and she’d never ask unless she really needed it.

So yes I would.

Most other people nope. I’d never lend anything I couldn’t afford to lose.

Fairyliz Mon 22-Jun-20 22:39:19

It was a friends big birthday earlier in the year and I sorted out the present from our group of friends. I’m still waiting for the £30 from one friend and it’s making me really angry that she’s not paid up, even though I could afford to lose the money. The thing is why should I ?
So no I could never lend anyone a large sum of money, although I would give it to my adult DC’s if they were in need.

BooFuckingHoo2 Mon 22-Jun-20 22:39:59

No

I’ve done it twice before and been burnt both times. Never again.

IAintentDead Mon 22-Jun-20 22:40:00

I've loaned money to my (adult) kids - and had it repaid.

My sister loaned me a large amount of money and my brother a large but much lesser amount.

A house sale had fallen through and I had already committed to my new home. I paid them back, with interest the day the money came in from my sale.

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