How To Handle People Who Only Wish To Borrow Money From You ?

You work extremely hard to have your finances in check, budgeting every expense, cutting back on expensive dinners and investing your heart out to save money and achieve your goal of financial freedom. And then, on a random night out with friends, you come across the most common form of request

‘ Hey, I’m a little short of money this month. Would you mind lending me some money ? I promise I’ll have it back soon ’

You’re a great friend, always ready to help out, but your kindness gives rise to an unending loop of borrowers who know you’re the go to person when it comes to money. There will be times when you may never see the money you lent leaving you with nothing but regret and trust issues to last a lifetime.

How To Deal With People Who Only Wish To Borrow Money


Never reveal your finances to even the closest people around you. Go & hide that bank statement right now !

Oh no, you keep that suitcase shut !

You may be thinking what’s the harm in disclosing some of these intimate details and sharing your financial success story with your closest friends or relatives, but the reality is, some things are best kept secret. The moment people know you have the money, you will be listening to a lot of their financial hassles and how they wish they could find some help.

Don’t become the agony aunt for every money problem !


I’m not discouraging you to be the helping hand in someone’s life and if you can help someone get back on their feet, there’s no better feeling in the world. But, before you blindly lend money out of kindness, ask for details.

What is it they need money for ?
Does the reason sound legit ?
Is the person reliable ?
When and how will they repay you ?


Know the borrowers finances in full detail, all debt, assets, sources of income and spending — this may sound intrusive, but your money didn’t fall off the tree and it’s your right to ask before you make the decision. If all the money you lend is only going towards luxury spending such as weekends at the bar, your answer should be a firm NO.


It can be hard to just say no to your closest friend, fearing you would lose that bond forever. If you realize they only wish to borrow money because of terrible spending habits and put no efforts towards budgeting their expenses, help them, not by lending more money, but by offering your sound financial expertise.


Initiate a complete review of their finances and guide them in the right direction. Not everybody is great with managing money and if you spend time teaching one of the most valuable lessons, you will be the reason for their financial success.


Identify the ones who just can’t stop borrowing money. Whether it is borrowing money from you or someone else or even the bank that agreed to offer a credit card, if they are running their entire life on credit, it’s a red flag.

Stay away from any form of requests from these repeat offenders, because they do not intend to pay you back. You may even offer to help them get their finances in check, but borrowing can become a dirty habit for some people. Don’t spend too much of your valuable time unless the person is really eager to turn his life around.

Money can change the dynamics of any relationship, so think carefully before lending any money. Use your judgement and think about all the points above to avoid being taken for a ride for your money. Good Luck !

Find Balance with Utopia Life Coaching !

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3 thoughts on “How To Handle People Who Only Wish To Borrow Money From You ?

  1. This is something I go through in my experience as a student studying in abroad and live by the money that my parent send me, I have friends who spend more than 3 times the money I get but at the end of the month comes to me asking for a few rubles but they are reluctant to give it back or they just don’t care because they spend money without much concern and forget which is kinda sucks.
    So the method I use is I pretend to not have money and then go ask them some amount more than I lent them and maybe after a few days I give it back to them reducing the money that I had given them in the first place.
    It did work fine though!
    Or I would text them straight and have a reasonable request up my sleeve!

    Liked by 1 person

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