Friend has asked to borrow money but I’m not sure

I was always told that you should only lend money to someone that you would be ok with never getting back.

There are countless reasons why people don’t end up paying back money they owe and unless you’re willing to spend ever more money taking it down the legal route you’ve lost it for good.

In your position I would say sorry but no. It’s too risky.

Andbyes, why do they know you have savings? Never give anyone that information.

£2k from a £5k savings pot is a huge amount to risk, no way for that reason alone, as you say, you need it for emergencies.

I don't lend to anyone, if I'm in a position to help, and I want to, I'll give money when it's needed, but I'm not getting involved with lending and all the bad feeling that will inevitably bring.

There's a reason the professional lenders won't lend to these people, never risk more than you can afford to lose

Just don't. What if your car needs 2k worth of work, or your boiler packs up? Your money is your emergency fund, not for their use. They sound feckless, and you wouldn't get it back.

No. Lend no one anything. Why do they know you have money?

I play the broke card all the time otherwise you get tapped for more than your fair share of everything and people expect you to pay for them all the time.

I have two kids in private school. As far as anyone is concerned I’m on my arse paying the fees when it couldn’t be further from the truth.

Nobody ever asks me for anything anymore.

They lived on 22k instead of working so are they jobless?

I can’t see how they would afford to pay it back and it will be way more awkward chasing them for it.

Say you can’t afford it.

A big fat no from me too.
You can't afford to lose the money so don't lend it to them. They've proved themselves to be crap at handling their finances so they'll be no better with your money. Do not lend them a bean.

No way, say it’s tied up. They should have saved some of the £22k. How do they even propose to pay you back?

They have blown 22k, they are extremely bad with money. You would be very irresponsible to lend them ANY money. They are a couple with double the earning power should they choose to work, as opposed to you, being single. They should be ashamed to ask you. Say no, and don't lend a penny.

Just no. It’s a complete sentence remember. Say you can’t afford it, say it’s earmarked for other things, or don’t explain at all. They should never have asked - so cheeky.

It would be a straight no from me
You don’t have to justify your reply or think about their circumstances,
2K is a hell of an ask.

Don’t do it….you'll lose the money and the friendship. Best just to lose the friendship if they don’t understand why you won’t lend the money. To lose both will be galling!

And don’t let people know you have savings. You can just say No that doesn’t work for me or if you feel the need to explain…the money is tied up in a high interest savings and has to have 60 days notice, or you need the money for your new kitchen / underpinning / whatever. Although you don’t have to justify why not, they’re CF with NO MONEY TO PAY YOU BACK. And they know that.

Absolutely not. She shouldn’t know how much money you have in savings- just tell her you don’t have it. If for some reason she knows you have savings tell her it is in a locked savings account and you can’t access it until it matures

2K when you only have 5K saved is a huge chunk.

How can they afford to pay you back with poor credit, debt and no savings?

You would be a massive fool in my opinion to lend them money.

Only ever lend money you’re happy to never see again…

"sorry friend, I can't afford to lend you any money. Hope you get it sorted"

No way … they blew through 22k !!! You don’t have a massive amount of savings

I would be saying sorry don’t have the funds - which really you don’t have- it’s for your emergencies not some else’s

Don’t you may never see it back

Say no. They can’t get credit for a reason. They are a terrible risk. Unless you are willing to give them the money as a gift, don’t do it.

No, No, Nope, No, No!!

Do not even consider it.

They don't work, the spunked £22k in a year, you feel uncomfortable to say no - how and why are you even friends with these people?

Big hard NO

Just say you can’t afford it either.

you won’t get this back

It might feel tricky but it's always a bad idea to lend money to friends. Better to have awkward conversation now than a major fall out later when they don't pay you back.

I would say no. Sorry, I'm not in a position to lend any money (No further explanation). Hope you can get something sorted.

They sound like people who wouldn't pay it back.

Based on No.2 alone I’d be saying no. Anyone who has 22K and doesn’t think to save some of it for emergencies is someone who makes poor decisions. Personally I doubt you’d get the money back, so unless you’re willing to write it off as a gift instead of a loan then I’d say no. You can always use the excuse that you might need it yourself soon for some repairs or something if you don’t feel comfortable giving a flat out No.