HAVE YOU LOANED MONEY TO A FRIEND OR A FAMILY MEMBER?Rick Rock
If you are considering loaning money, Don’t expect to get it back. Fifty percent of all loans to family members are never repaid, and 75 percent of all loans to friends aren’t repaid.
You’re better off treating it like a gift and remember there is still half a chance it will come back to you.
Source: Downsize Your Debt: How to Take Control of Your Personal
Finances, by Andrew Feinberg
Aired Wednesday 5-17-23on The Mid-Day Show with Rick Rock