Lending money to family can be both sensitive and complex.
While the desire to help loved ones in financial need is natural, you need to approach with caution.
Clear communication, transparency, and setting clear expectations are key.
Establishing a written agreement detailing the terms of the loan, including repayment schedules and any interest, can help prevent misunderstandings and protect relationships.
However, it’s also important to consider the potential impact on the lender’s financial stability and the borrower’s ability to repay.
Ultimately, lending money to family requires careful consideration and clear boundaries.
4 Ways You Can Set Clear Financial Boundaries with Friends & Family→
