A friend rang up and need some money urgently. There were a few things which running my in my mind. Should I or shouldn't I? After a few stint of bad loan in the past, I came to a conclusions as below.
First, how well do you know your friend;
Second, what is the money used for;
Third, does he go for holiday later when he can afford to pay you some, but refused?;
Fourth; can he pay back the money with the agreement set before you loan;
Fifth, do you have a contract?
Lastly and most importantly, can you afford to lose that money once you loan it out?
At the end of it, yes we need to help our friend, but we also need to know our limit.
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