The next time you get cornered by a needy friend or family member needing to borrow money—or the next time your heart compels you to lend out of generosity—here are some basic rules to keep in mind. First of all, don't get carried away. ou may be elated at the opportunity to share your riches with everyone, but keep in mind that you probably want to keep some for yourself, too. Depending on which family member or friend you're lending to, chances are you may never see the money again . On that note, only lend the money you can afford to lose. "Only lend up to the amount of money you’d feel comfortable placing on the table in a game of roulette or craps," says Next Avenue. nce you decide how much your debtor can be trusted with , write it down . Record how much you've lent, when it should be paid back, how it should be paid back, whether there will be an interest charge, and have both parties sign it. However formal it may seem, it will p
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