How to borrow Money from a Relative?

[raaman]

How to borrow money from a relative?

Borrowing money from a relative is a difficult question, since it involves personal, and family ties, along with other issues. But you should also keep in mind what to do when a relative asks you for a loan, since the first impulse will be to help them in their hour of need.

However, you should think about it carefully because you might not see your money again. No doubt, it is a very good thing to help your family members when they are going through difficult times and need to borrow some money for the occasion.

However, sometimes it is difficult to distinguish those relatives who plan to pay you back from those relatives who may become angry when you ask them in case they don’t pay, and may even stop talking to you. Experts suggest that it is not convenient to do so.

But, since a member of your family is the one who needs to borrow, it is almost impossible to say no when they ask you. For this simple reason, you must learn how to lend money to your family members and relatives, and how to borrow money too.

This way you will be able to lend money when your relatives ask without wondering if you will ever see your money again. For this purpose, you can also decide if your family member who is borrowing the money is responsible enough to pay it back in due course of time.

 

[Shortie]

Sometimes asking a relative for money to borrow is the better option than going to a loan company for a loan. Most loan companies have a high-interest rate meaning you pay back more than you borrow whereas borrowing from families there is no interest and you only pay back what you borrowed and it's less stress to pay back if they are pretty laid back and ask you to pay back as and when you can.

 

[Augusta1]

I always prefer to dash family members money than borrowing them I don't want to have issues with a family because any kind of money. it can't remain the same when there's a friction in the home or family.

I think when we are dealing with family as you have tightly stated we need to be very careful with our dealings. Just like when you want to invest into anything you need to know you are gambling so don't expect so much but for family it is another gambling so I try to give what I can let go than borrowing them.