Would you let a close friend or family member borrow a large sum of money? If not, how would you let them down without any awkwardness?
by 
JanuarySnow
ANSWERS: 7
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No. I have no money to loan. Instead, I'd recommend that the friend try out social loaning, through sites like prosper.com.
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My mom or my best friend Nay nay, but for the other ones, I'd just tell them I don't have it to spare.
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For family, yes. For a close friend, no. For my close friend, I'd just simply state that I don't lend money out, and they should understand (it's a close friend, right?). For family... well, that's family, and it's a completely different situation. It also depends on your definition of "a large sum of money". If it's a full month's paycheck, I might need to weigh the reasoning for the loan. A half month's paycheck I would part with without a fuss for family.
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Yes. As long as I know they don't have a drug problem.
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"Neither a borrower nor a lender be." I think that statement is especially appropriate for friends. As for relatives, only loan the amount you can afford to lose without animosity. You may never get it back so must be ready to just let it go.
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NO.If they need it, and I had it, I would make it a gift. Too many misunderstandings and hurt feelings come about over money. Money holds a lot less value for me than the relationship of my close family.
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I've done so in the past, never had a bad experience with Close friend. In my parts we do not expect money given to family members back. But for some reason I did not wish to lend out, I would say so that I was myself tight and not in a position to lend out.
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