MoneyWise


Before Lending Money

October 16, 2018

It happens to everyone sooner or later. You’re just minding your own business not bothering anyone, when a family member or friend asks you to borrow money. Your answer could have lasting consequences.  On this MoneyWise, Rob West and Steve Moore discuss some practical considerations before you decide to take on the title “lender.”  

Then, they answer your questions at (800) 525-7000 and questions@moneywise.org about the following:

  • If your mother is 85 and her financial advisor told her to put the $45,000 back into an annuity, does that sound like a wise move at her age?
  • If you've always heard to keep your credit in good standing but have already made mistakes, how do you fix it?  
  • If you've just moved into a rent-to-own house and the owner is asking me for extra money to handle renovations, how do approach the situation?
  • If you were recently told that you could use part of your RMD to pay your tithe, should you do it?

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