In this episode of The Money Mentor, David Braithwaite dives into the delicate topic of lending money to loved ones. Whether you’re borrowing or lending, money can complicate relationships. David shares essential advice on how to navigate these situations. Emphasising the importance of clear terms, communication, and understanding the emotional and financial risks.
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David explains how to approach the situation responsibly, whether you’re the one asking for money or the one offering it. He covers key points like setting clear repayment expectations, knowing when to say no, and considering alternatives like 0% credit cards or credit unions.
Before you lend or borrow, listen to this episode for expert tips that will help you protect both your finances and your relationships.
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