Thinking of loaning money to family or friends?

Lend to Friends and Family—But Only if You Follow These 3 Tips

By Pete Chandler
"Don't invest money you can't afford to lose. The same holds true with lending money to friends and family, but with an added caution. A 'friendly' loan can be a good way to lose money—and tarnish a good relationship with the borrower."
According to a study conducted by Lending Tree, "almost a third (28.7 percent) of those who borrowed money from, or loaned money to, a family member reported suffering negative consequences."
"If you're considering lending money to a friend or a relative, here are three tips to make friend-and-family lending succeed."
1. "Lend only what you can easily spare."
2. "Loan like a bank."
3. "Lend money with eyes (and heart) open."
Read the full article and details at: http://www.finra.org/investors/highlights/lend-friends-family-3-tips?utm_source=MM&utm_medium=email&utm_campaign=S%5FAI%5F072418%5FFINAL