9 Things to Consider Before Lending Money - Episode 17
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Show Notes
When you're loaning money out to friends, family or strangers there are several things to consider because it will change your relationship - and could possibly ruin it. In today's episode Curtis shares the 9 things you should consider before lending out money and how the money for life principles come into play.
Curtis's motto is that what you learn today and how you position yourself will determine your future financial well-being 5, 10, 20 years from today. To learn more about how to manage your wealth in a practical way, visit www.practicalwealthadvisors.com
Links and Resources from this Episode
- www.practicalwealthadvisors.com
- Send an email with questions to [email protected]
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Show Notes
- The difference between bank loans and personal loans - 1:12
- Should you even consider loaning money out? - 3:18
- Why you should only loan money on what you can afford to lose - 5:34
- What happens if they default? - 8:39
- Consider how your family and friends might react - 10:02
- Stick to cash, avoid credit cards - 11:47
- Charge them an interest - 13:05
- How to avoid friction at home - 15:00
- Why this is ultimately a personal decision - 16:54
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