friend wants to borrow £1k

I'd be cautious as I've heard too many stories about money ruining relationships.
I think she's chancing it as she knows you have savings (I could be wrong?) I'd probably offer to lend a few hundred if she was my best friend to help out, but I'd feel uncomfortable with £1000. Never lend unless you're comfortable with not getting it back.

Only lend the amount you're prepared to lose.
At best, you'll need to ask for it back. You probably not get it.

You can borrow what people are willing to lend you.

No…
I went through a very bad financial patch, absolutely skint. My friend was upset that she didn’t have the money for a night out we’d planned. I felt bad for her as I too was skint and it was shit. So in a moment of madness and to help cheer my friend up I offered to put the drinks on my credit card.
at the end of the night she thanked me. It was rubbish having to use her last money to max out her ISA!!! From then on I’ve always questioned everybody’s definition of skint and whether they have chosen to be there.
Your friend chose to buy a car and book a holiday with not enough of an emergency fund to cover her employment gap.
It may sound heartless but you made your money choices and she made hers.

If your husband told you his best mate wanted to borrow 1K, what would you say to him, providing he told you?

Only borrow the amount you’re ready to loose. Sounds like £1k is too much for you, I’d offer less and make sure she commits to a date when she’ll repay it.

I said I wouldn't in the OP's position so I'm not quite sure why you felt the need to say all of that to me 😅

I would for some of my friends. I have a few friends I have borrowed from and they have borrowed from me

I have friends that I would not lend money to and would never ask (and they would never offer)

Its really hard to answer unless you know your friend well

Did she buy the car on finance? I had got a new car early december, but all of it was financed so I didn't pay anything upfront.

She has just bought a car and is away next week on holiday. she said she’s got £500 to last her til February payday.

She doesn’t need money, she has money somewhere. She can use her overdraft.

Don’t fall for it, say no. She is most likely hoping you won’t ask for it back.

Family member recently asked DH for a larger loan to do some work on their house.
He suggested they go to the bank. ‘ But they charge interest’ was the response.

No comprehension that we would lose out interest on our (retirement) savings.

Anyway, it was a firm no. Emergency funding for food / utilities, maybe. Non-essential - no way.

If you loan her money, it will likely end your friendship and you won't see that money again if she hasn't discussed how exactly she would repay you.

You have a child and responsibilities.

She just bought a car and is going on a holiday. If she didn't have the money, she shouldn't be doing either. It seems like her spending is out of control.

Tell her to go get a personal loan at the bank.

Tricky situation OP but when I have had to borrow money from a close friend in the past, it was for food shopping and nappies. A car or holiday was a distant dream. Those days are over, thankfully. I moved home last year and believe me, it is an extremely costly process. That £1000 will make a significant difference.
If she is able to commit to a repayment plan of £250pcm ( as an example), you may consider but would need to be assured of her commitment.

I would steer well clear OP. Some people do just feel that they're entitled to other peoples' money, if the other person has more than them. Unfortunately the sense of entitlement (and probably other factors around money management) can result in the money not making its way back to the lender. It's like they think of it as a valve that should only operate one way.

I fell out with a friend 20 years ago over money, I loaned her £500 which was huge at the time. She had just borrowed another £50 off me for a monthly bus pass to get to job interviews and then went to the bar like lady bountiful and spent more than half on a round of drinks - I asked how she would buy her bus ticket and said she shouldn’t be gifting drinks bought with my money - she went nuclear “how dare you tell me how to spend “MY money” and just stopped speaking to me. Borrowed from another friend the next day for the bus ticket saying I was a b*tch and refused to help her out. Got to the date she was supposed to repay and nothing, took months of badgering to get her to repay and only paid just before the trip I had saved it for came up - I suspect because I had been lamenting to friends that I was going to have to cancel my holiday. She repaid by borrowing from another friend. She bought designer bags, holidays etc… while not working and put them on credit cards - she moved into my house at one point by stealth and just ate all my food and lived off me! She was really really bad with money but happy to spend others, and yet had lovely qualities too and was a childhood friend who I miss. I wish I had never loaned her money!

If your friend is the type that buys cars and holidays when they are almost out of cash she might just need to scrimp this month! If it was me (and I am a but soft) I would say that your savings are in an account that you can’t withdraw from but you can loan £200-300 from your personal account. The £1000 will go on having a nicer holiday rather than essentials!

If she is prioritising going away on holiday and buying a car when she is short of money then do you think she will be prioritising paying you back?

if you can afford to GIVE her the money then do, but do not see it as a loan.

the answers no

you should never lend money with the expectation you will get it back. Can you afford to, lose £1k?

her lack of money is down to her choices, she bought a new car, she is still going on holiday, she chose to start a new job after leaving her old one. Why hasn’t she got her own savings to tide her over such events?

Also, I dont understand why you feel bad for her? she just got a new car and is off on holiday!

That's not really a cause for sympathy - loads of people can't afford to do either of those things, yet she is. She's actually pretty blessed

If she is ill why is she going on holiday? She should cancel on her insurance.

If not ill enough to do so, she should be working to solve her cash flow problem.

She isn't in real need, she's buying a car and going on holiday!!

Shes going on holiday and has a new car but wants YOU to lend her £1k. Not on your nelly

Isn't it annoying that the borrower finds it so easy to ask a friend for such a thing, but the lender often feels terribly awkward about asking for it back if it's not paid.

I think that's what CFs rely on a lot.

I’ve recently lost my job. Fortunately I’ve got another starting in a couple of weeks.

But it means this month I have had £300 for everything.
UC works out your payment from the month before and so I’m only entitled to £300 for the entire month.

I am a single parent and could really do with a bit of extra money than normal to get an outfit for my new job.

But no way would I ask to borrow such an extortionate amount.
I have been using my credit card and if I desperately needed to borrow money it would not be more than £100.

I am assuming payday is at the end of the month?
How is she struggling when she’s got £500 and only a couple of weeks to go - this is more than most people have for the entire month after bills.

Is she wanting to borrow money for bills or luxuries?
If she’s needing to pay her rent out of it then £500 isn’t loads but if she’s paid her bills then she’s being even more of a CF!

Assuming the car was necessary and she hasn't bought something mega expensive and the holiday was pre booked and paid for, I would offer the £200 or the few hundred that you thought she was going to ask for and you and your husband were happy with tell her that's what you can spare.

Unlike a lot of people on here i've never lent money to a friend and not had it back. However I do always consider if the worst came to the worst and I didn't get it back can I live with that outcome?

I don't think a real friend would ask them to lend you a grand to be honest (at least not in this sort of circumstance). I can't imagine ever doing so.

I also find these kind of situations can really affect friendships, I've started to try and avoid even things like paying for tickets upfront for certain friends who are rubbish about paying back, as I find it so awkward to keep having to ask for it back and then resentment can start to creep in.

Are all the bills paid? I've got about £500 to last until February pay day but all of my major bills are paid and everything is in hand.