Borrowing money from friends can severely damage the relationship, unless it's absolutely necessary and you're confident they'll pay you back. Lending large sums of money can lead to feelings of resentment and even the loss of the friendship.
Lending money to friends in emergency situations, such as medical bills or financial difficulties, can be done without expecting them to pay you back. However, lending money in non-emergency situations will not significantly improve their quality of life.
To avoid the risks associated with lending money, it's essential to learn how to say no. You can say something like, 'My friend, feel free to reach out when you're in need. I'll be happy to share my experiences with you – I know how it feels to be in a tight spot.'
It's also crucial to consider the people who truly care about you the most – your family members. They are more likely to lend a helping hand without expecting anything in return.
When it comes to lending money, it's essential to be cautious and consider the potential risks involved.