If you have a friend who is borrowing $100 or $1000, you need to ask yourself if you can afford to hand it over – and we don’t just mean the money. Even if you can spare the cash, consider the cost to your friendship before you agree to a loan. While it’s easier to say yes when friends who are short of funds approach you, saying no may actually be better for your relationship in the long run. That is, if that friend is worth keeping.
If you really must help, here are five tips to ensure you get your money back and/or keep your friend too.