Is It Wise to Give Out Personal Loans

By Daniel Millions

 In a tough economy, family members and friends sometimes wind up lending money to those that find themselves in a bit of a pinch. Often this turns into a much sticker situation than the two parties had originally hoped it would be. Instead of just being there for someone in a crisis, this can often lead to arguments and sometimes can lead to the dissolution of the entire relationship.

It is critical when making a personal loan that you set ground rules beforehand. Decide exactly how much will be lent and when it will be paid back. Sometimes the lender is not in the easiest situation to pay back the entire amount right away due to unemployment or excess bills. A payment play with reasonable and practical payments is the best choice for both parties. Knowing that the lender is making regular payments every month often puts the lender in a calm state of mind. This also gives the lender confidence that they truly can pay back the full amount, even if they don’t quite have it right on hand at this moment.

When making a personal loan, it is important to consider the exact circumstances for the loan and the person involved. Making a loan to your child may be a much different circumstance than making a loan to your sibling. Then again, making a loan to any family member or friend who has not paid you back in the past is something that needs to be thought carefully about. There is the strong chance that they simply will not pay you back.

This has nothing to do with you and a great deal more to do with the way this person handles and respects money. This lender may simply have poor money management skills or even just be a very manipulative person. It may be a wise choice to check with other family members to see if they have also lent this person money in the past before making a second loan to someone that has not paid you back before. Asking them to also pay back this second loan and the original loan is also an excellent idea, as this teaches responsibility and helps to wipe the slate clean.

Sometimes it is more important to just help our family and friends than it is to make a loan. There are times it is better to make a gift of the money than to actually make this money be a loan arrangement. Many circumstances might determine this, but especially if someone were unemployed and they had unexpected medical bills, this might be a situation you would want to just lend a helping hand. However, there is a limit to everyone’s “helping hand.” You cannot simply give endlessly to someone that just takes and takes and takes with no limit in sight. There needs to be some type of plan in place.

When making a loan, write everything out on paper and actually have the lender sign it and you sign it as the lender. Give them a copy and you keep a copy too. Even though this is a close relationship, this makes it more professional and will help ensure that this loan remains as it should: a loan.

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When Your Finances Affect Your Health
By Rachel Yoshida

 If you ever find yourself saying that keeping up with all of your bills and finances is just killing you, then you could be closer to the truth than you think. People everywhere are suffering some terrible physical and emotional effects because of the stress related to their jobs and finances. In that ever consuming bid to keep up with the times or just to make ends meet, the workload we carry every week can become overwhelming.

It has been proven by medical research that stress can have a tremendous effect on our heart and minds as well. Heart attacks, nervous breakdowns, anxiety attacks, and depression can often be caused by the burden of our jobs and financial situations. We have to have the job to furnish the money and we have to manage the money to pay our bills and survive. When these things get out of balance some how or become too much for us, we can suffer terribly.

When you find that you are making trips to see your doctor to get medication for stress related issues, it could be time to try and make some changes in your life. If you find that you are drinking more alcohol or stay depressed all the time, it could be time to make some changes. These are real problems that can cause some irreversible consequences and it might be necessary to figure out ways to lighten your load. If you think that there is really nothing you can do to give yourself some relief, maybe you just have not thought about it enough.

You could need to find a way to take a day and just think. If you have to work more than forty or fifty hours a week, this might be creating some health issues. First of all, is it really necessary for you to work all these hours? If you find that it is necessary to work long hours to pay all of your bills then have a closer look at your bills. Do you pay for things monthly that you could do without? See if you can find some ways to cut your expenses. Sometimes we spend more extravagantly than we need to and then we have to pay for it. Your health and peace of mind could ultimately be more important than the house you live in or the car you drive.

Rachel Yoshida is a writer of many topics, visit some of her sites, like

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