Money And Friends

Lending money to family or friends can be problematic. It is usually done with the best of intentions, but it often turns out badly. Here are a few ways you can reduce the downside of loaning money.
Don't lend money you can't afford to lend.
Get a signed, written record of the loan.
Do not obsess over how the money is spent.
Don't expect special favors. Do not change the way you treat the person you loan the money to and don't change your personal expectations of them. Do not use the loan to extract favors from the recipient.
If you are loaning money for a car, make sure you are the lien holder on the title.
If you are lending money for a house, get a mortgage.
For any significant loan (over $10,000) check with a tax accountant to determine any tax implications for the loan.
If the person fails to pay off their debt, you must try to collect using the same methods that other lenders use. Send letters stating the debt and requesting repayment.
“Money to Burn” – if you are reach, you will spend all your money.
“Money for jam” – easy way of making money.
“From rags to riches” – you start off being very poor and become rich and successful.
“Pin Money” – you work not because you need to but because it gives you money for extra luxuries and treats.
“Money for old rope” – very easy way of making money.
“Seed Money” – money that is used to start a small business.
“Live beyond one’s means” – spend more money than they earn or can afford.
“Money doesn’t grow on trees” – money is not plentiful or easily obtained.
“Be Broke” – be without money.
“Money Talks” – people with a lot of money have power and influence.
Money – medium of exchange
Shopping – buying merchandise
Luxury – a material, object, service, etc., conductive to sumptuous living, usually delicacy, elegance or refinement of living rather than necessity.
Shopping Spree – shopping without any restraint.
Bargain – an advantageous purchase, especially one acquired at a less cost than the usual cost.
Poverty – insufficiency; state or condition of having a little money, goods, means of support; poor.
Conscious- aware
Haggle – wrangle or dispute over terms.
Indulgence – gratification of desire.
Necessity – necessary or essential; needed.
Do you compare prices at different stores when you shop?
Do you enjoy shopping?
Do you ever buy second-hand things? ("used things")
Are you a price conscious shopper?
Are you good at saving money?
Are you saving money to buy something?
Do you haggle when you shop?
How much do you usually spend each month on entertainment?
How much do you usually spend each month on food?
How much do you usually spend each month on transportation?
What do you spend most of your money on?
What do you spend the most money on each month?
What is something that you have bought recently that cost a lot of money
What is something that you have bought recently that was a good bargain?
In a marriage, do you think one person should handle the finances, or both?
How do you think money helps make us happy?
Do you think money is more important than love?
Why do people often want more money, no matter how much they have got?
Why are poor people in many cases more generous than rich people?
What are some reasons for people being poor? Can poverty beavoided?