Lesson Learned: Don't Lend Money to Friends

These do not exist.

Oh, young silly me!  How naive of me to believe that everyone that makes a promise is pressured by some noble obligation to keep that promise made. If only they were, then maybe I wouldn't be out of nearly $1000 all at once.  In case you're wondering, this rant is about lending money and why I believe it is a horrible thing to do.  Okay, let me rephrase myself...lending anyone money with the expectation of actually receiving any of that money back is a bad idea.  Much better.

Why lending money (with the expectation of repayment) is a bad idea?

1.  Well the indication that you want to be repaid makes me honestly believe that you may have needed that money.  So if you need that money why would you give it away?  You worked hard for that, use it for what you need.  

2.  It creates tension.  No one likes owing anyone.  I have never seen a situation where the situation hasn't been tense or caused some dispute.  Oh, and don't even think of involving a contract. It now makes the other person feel as though you think they're not trustworthy.  Contracts are for banks not friends.

3.  You're not helping them (more towards repeat borrowers).  Why do they need to borrow money?  Well, I'd like to think it's because they don't have any at the time (or ever).  Why don't they have money?  Maybe, their job doesn't pay well or maybe their lack of money is due to horrible financial planning, in either case the real problem isn't fixed simply because you alleviated their financial worries for the moment.

In any case lending money is just a bad practice, now this isn't to say that you can't give away money. You can do that but only if you have it to spare.  Anything (as far as money is concerned) outside of charity is a no-go.  True friends are hard to come by, don't let financial issues come between friendship.