Techniques to handle a close buddy who would like to borrow cash away from you

Lending cash to a pal just isn’t a rather idea that is good. This really is we give, but forget the loans we take because we tend to remember the loans. And this occurrence, where borrowers conveniently forget which they owe cash up to a close buddy, is known as ‘blind spot’.

just Take for example the scenario of Supriya Thomas (name changed), a 20 one thing whom works for a Mumbai-based company that is private. She had lent Rs 40,000 to her space mate. “we had understood her for more than 36 months, and then we had been good friends. She required Rs 40,000 getting admission in a international college. I recently could perhaps maybe perhaps not state no. It absolutely was for training after all.”After four years, Thomas have not got in a rupee that is single plus the buddy has relocated to London. These are generally not any longer in touch.

Buddies borrowing cash is typical andeverybody might have run into such circumstances, or even being a victim, as a predator.Firstpost did an instant dip-stick study to locate how individuals looked at lending cash to a friend. We unearthed that most of the respondents had been sometime or perhaps the other expected by buddy to provide cash, that too amounts that are fairly big. The amount was Rs 8 lakh in one case.

Should one also start thinking about lending money to a close buddy after all?

But, which are the things you need to start thinking about before lending up to a friend that is needy? Can there be a way that is right handle the specific situation? Should one also start thinking about lending money up to a close buddy after all?

If you are going in what psychologists George Loewenstein of Carnegie Mellon University and Linda Dezso of this University of Vienna present their research, lending cash to a pal just isn’t a tremendously good clear idea. Read more