OT-What would you do..
If a good friend who works with you asked you for a loan of about $300?? I have known this person for about 6 years and she has worked with me for the last 3 jobs and I consider her to be a very good friend. This morning I overheard her on the phone trying to tap into her 401K to get a loan for $300 but was unable to since she could not remember her pin# and it would take her 7-10 days to get a new pin# assigned. My friend broke down in tears and mentioned to me that she is hurting for money since her daughter who btw is 18 years old and high school drop out got pregnant last year and now has a 6 month old infant who my friend is supporting. My problem is that I have lent over $400 to another co-worker who I though would pay me back and I ended up not being ever repaid by this other girl who ended up getting fired from her job. I told my friend that I will see what I can do but my husband would freak out if I mentioned that I want to lend money to another friend as I have been burned before. Am I a chump or should I just take a chance and lend her the money. I should also mention that this friend has borrowed money from me before and has always repaid me back on time. I really feel bad for her and feel fairly confident that she will pay me back. What do you think??
-Shilpa
People comment on my over 100 pound weight loss and attribute it to my WILLpower, but it is my WANTpower: I WANT to be thin and healthy more than anything else!
My rule is........only lend money you can afford to not have paid back. Although, you always expect to be paid back. It doesn't always happen that way. So firstly, make sure it's not going to hurt you financially in any way to lose this money if it isn't paid back.
Next, I say go with your gut. That is always the best way to make a decision. Our intuition is almost always correct. You have to feel comfortable making this decision.
Next, I say go with your gut. That is always the best way to make a decision. Our intuition is almost always correct. You have to feel comfortable making this decision.
When life hands you lemons, ask for tequila & salt and give me a call!
Go with your heart; if you've had a good experience with this co-worker repaying loans in the past, do it. You might also want to mention to the grandmother that assistance can be obtained through county agencies, etc., for indigent mothers and infants so that it's not all on her.
Of course you should tell your spouse, but I'm sure if you explain the cir****tances he will understand.
Good luck.
Of course you should tell your spouse, but I'm sure if you explain the cir****tances he will understand.
Good luck.
Thank You so much for your advise. I just feel so bad for her grandbaby and she really is a good friend and I am very lucky as we really can afford to lend her the money short-term. I know how hard it was for her to approach me for this loan. I have decided that I will lend her the money and god-willing she can repay it back. Just hoping that hubby does not freak out as he keeps telling me that I wear my heart on my sleeve.
-Shilpa
People comment on my over 100 pound weight loss and attribute it to my WILLpower, but it is my WANTpower: I WANT to be thin and healthy more than anything else!
I don't have any advice per se. All I can say is follow your heart, if your hunch is no, then no. IF you heart is saying yes, say yes. Ultimately at the end, it's not whether or not we got burned we remember but the times we loved. And the times we did not.
regards, keri 
Life is not about waiting for the storms to pass... it's about learning to dance in the rain. --Author Uknown
Shilpa,
I agree - go with your heart, but don't lend more than you can afford to lose without losing the friendship. (i.e., loan it with the thought that it might be a gift to a close friend... if it gets repaid, then that's wonderful...otherwise, you run the risk of damaging the friendship if you have hard feelings about it not getting repaid).
K.
I agree - go with your heart, but don't lend more than you can afford to lose without losing the friendship. (i.e., loan it with the thought that it might be a gift to a close friend... if it gets repaid, then that's wonderful...otherwise, you run the risk of damaging the friendship if you have hard feelings about it not getting repaid).
K.
Shilpa,
I've been in this situation too. I am a softee. My husband always says if we can help someone out that is great and to ask the question can I afford to loose this money. He always said dont expect to always be paid back. It doesnt always happen. I've gambled more than a dozen times and got burnt twice. 200 & 150. Not bad odds. Go with your heart and at least you can say it was for the baby. That in itself is a good enough reason for me. Good luck on your decision.
I've been in this situation too. I am a softee. My husband always says if we can help someone out that is great and to ask the question can I afford to loose this money. He always said dont expect to always be paid back. It doesnt always happen. I've gambled more than a dozen times and got burnt twice. 200 & 150. Not bad odds. Go with your heart and at least you can say it was for the baby. That in itself is a good enough reason for me. Good luck on your decision.
JoAnn
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