friend wants to borrow £1k

If she can afford a new car and a holiday she is not broke, just not great at managing money flow. She may pay it back this time but she will ask again and again and start to become resentful at having to pay it back when you are ‘rich’ (willing to scrimp and budget to ensure you have savings) whilst she is ‘poor’ (good at spaffing money on luxuries and bad at saving for a rainy day).

Learn from those of us who have been burned and don’t do it!

And how much is she going to spend on holiday? You don’t have 1000 spare. Say you’re welcome to eat at ours for a couple of weeks and I’ll send you off with a packed lunch but I don’t have 1k spare, I have 4 dc. I had no idea you were going to ask for that much, shouldn’t you cancel your holiday?

Interesting. I feel that those who tap their mates for money when they know they have savings (that they've worked for) are vultures not good friends.

You'd be mad. You're not a lending bank. In most cases - especially when there is no plan explicit for how you will be paid back, and often when there is an agreed plan - lenders do not get repaid by their very good friends.

Tell her you haven't got it, it's all in a term deposit. If she wants a loan she can apply for one from an actual bank.

I would tell her that. You can lend £200 from your current account but savings are tied up and can’t be accessed quickly, plus you would lose interest.

She's got £500 until the end of the month - that's more than I have! She'll be fine. Don't lend it to her.

Read the title and the answer was no way even before I read the rest.
I never have and never will lend money to anyone even family, wouldn't borrow from them either. I would help them find ways around the problem but not with my savings. Heard too many horror stories from people I know, read about been told about.
"It's family though isn't it? You've got to say yes" Actually no you don't what happens when the borrower decides they want more or aren't going to pay you back?

A flat no,no convoluted explanations.
Mn is littered with borrowed money never being paid back.
The excuses start,bill to pay,boilers bust,the kids need etc

Does she know how much you have in savings?

Listen to your gut.

If you lend it you will feel resentment which will destroy your friendship over time.

If you say No - no excuses or explanations or justification - just No that doesn’t work for me - it will be momentary guilt which will fade and she will find a way and long term your relationship will survive don’t get stuck in FOG fear obligation and guilt to give in.

Stand strong. Send the text right now - get it done and burst the bubble. You are doing the right thing for her (to learn) and for your friendship - but most importantly for YOU for your gut your values your priorities. Don’t waver.

You sound very kind.However as an old Uncle used to say"If you lend any money prepare to think of it as a gift" in other words it wont come back!I think shes a bit of a CF anyway .Holidays and new cars and needs to borrow cash!

Definitely not. She is a cheeky thing if she has just bought a car and a holiday. She needs to use a credit card in the short term for groceries if she has messed up her finances.

OP I don't know why so many people are telling you to lie. Lyings wrong!

It's perfectly acceptable to tell the truth. "I don't have £1k to lend out, I'm sorry". "I do have a house deposit, but obviously that's a house deposit."

If she can’t or won’t get a bank loan then why should you loan her money.

Just because you ‘have’ the money doesn’t mean you want to give it to anyone else.

Just say no
if you lend it to her you won’t get it back and you will lose a friend this is pretty much guaranteed

tell her your money is locked in an ISA and you can’t take it out without losing interest and you have to give 1 -2 months notice

Sorry hun, it's in a Lisa.

Her financially bad decisions aren't yours to fix. Tell her you don't have that amount to hand.

A good friend wouldn't put you in this position. Why can't she ask family, use a credit card, get a bank loan or overdraft? Sell unwanted items on Ebay etc?

Or maybe the 1k she wants to borrow is for holiday spending money ...

It’s ok to say no, it’s ok to say your savings are tied up but you can lend her £200 from your current account. Say over text ‘it’s fine to pay back at £50 a month for next 4 months’.

that way you have a record.

I don’t have 1k to lend, but for my absolute BFFs I might offer £200- 300. I would tell them it was a loan but I wouldn’t expect to see it again and I would make my peace with that. Also, if they didn’t pay it back, I wouldn’t give again.

No I wouldn't. You could white lie that it's all tied up and not accessible currently. If you want to be really nice you could offer the £200. She should be able to arrange an overdraft or something if she needs more.

I think this is what I'd do. No way would I lend 1k to anyone.
Offer her what you feel comfortable with, without touching your savings. She should be grateful for anything, if she isn't then she's not your best friend.

I have only ever heard of friends asking each other for money on here.

It would be a hard no for me.

The only people I would be giving money to is my children. If she is so desperately in need, she must go to her family.

Don't do it OP.

I wouldn't lend it to her, as others have said you likely wont get it back and also £500 to last till Feb is plenty! We only have just over a week of January left! Thats plenty to get food shopping with! And if its for bills she should have paid them before buying a car and holiday and will just have to pay them late.

The only time I loaned anyone any money was when I knew I could afford for the person to not pay me back.

I understand that it's your friend but money can always be problematic and I don't think dipping into your savings is wise.
A friend of mine has recently hit a similar financial issue but didn't ask me for money - they have taken out a loan with a set repayment plan.