When Someone Asks You To Borrow Money

You know, according to a survey by bank rates, 60% of Americans have helped friends or family members by lending them money and expecting to get paid back and almost 40% lost money. Do your friends a favor and send this out because you could help a lot of people in your life as well with this situation. And let me be clear. I am not saying you shouldn't loan people money, not at all. That is not the point of this video. People are struggling today more than ever because of the virus and the job situation. And, of course, the lockdown, and now more and more people need help. You need to prepare yourself for when this request comes in. So it doesn't destroy you financially. And your relationship with that person you're loaning money to because that can happen.
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[@punanamousme8486]

I helped my cousin out a few times. When I stopped she got mad a sent mean text messages. Oh well!

[@Geni3420]

John great video I just loaned a close friend 5k for a down payment on a house next thing I find out he buys a mercedes.. Never again!

[@johnmacgregor3106]

Ugh! Sorry to hear that Geni. Just be grateful it wasn't a lot more. We learn from these mistakes. Take care

[@ankitrathore1766]

Yes sir ,you are right that same situation happened to my dad,he loan his money to our family member ,we trust him and didn't take in writing and at the end he was gone🙄,we still don't know where he is .

[@johnmacgregor3106]

Thanks for the comment Ankit! So sad to hear these stories. They are so common. Now you know! Take care