"Neither the borrower nor a lender be" succinctly describes the wise counsel given inside a Shakespeare play to avoid getting involved in lending or even borrowing money. Doing so can lead to a loss of your money in addition to spell the end of your friendship. But if you have lent a friend money with the understanding that you'll be paid back, how should you ask for your cash?
Fulfilling Your End of the Deal
Remember that for those who have agreed to lend a friend money, that this had been a two-way street. Before you approach your friend and get for your money back, make sure you have fulfilled your end from the bargain.
Did your friend agree to pay you back inside a month? Or once they had received their next interpersonal security payment? If so, do not ask for your hard earned money back until this time has elapsed; otherwise your friend will think you don't trust them and may bristle at the early request repayment.
Speak to Them in Private
There is nothing more humiliating than cornering your friend once they are surrounded by others and then loudly demanding your hard earned money back. It is best to speak to them within private, rather than make them a public exhibition before other people.
Even if your friend does not show that they're annoyed with your public approach, they will not thanks for it and this could wreck your friendship, even once you have received your money.
Stick to the Facts
When you've been waiting patiently for your friend to pay a person back, but there has been no sign of them mentioning the subject, let alone taking any positive steps to do this, this can lead to a justified sense of frustration as well as betrayal.
Rather than lash out at your friend, stay with the facts as they stand. How much does your own friend owe you? When did they agree to spend you back? Did they agree to pay you entirely or in installments? Present your friend with the facts whenever you confront them.
Owing a friend money can easily change the dynamics of the relationship. But you will want to preserve the companionship, if at all possible. Start off by fulfilling your end from the deal. This can be as simple as waiting per month for your friend's money to come through before they've enough to pay you back. But if your friend owes you money and offers still not approached you to repay the loan once you have fulfilled your end of the deal, speak to them in private concerning the matter, rather than letting the whole world know your individual business. Stick to the facts when you confront your own friend, so that you do not say something you might later regret.
Fulfilling Your End of the Deal
Remember that for those who have agreed to lend a friend money, that this had been a two-way street. Before you approach your friend and get for your money back, make sure you have fulfilled your end from the bargain.
Did your friend agree to pay you back inside a month? Or once they had received their next interpersonal security payment? If so, do not ask for your hard earned money back until this time has elapsed; otherwise your friend will think you don't trust them and may bristle at the early request repayment.
Speak to Them in Private
There is nothing more humiliating than cornering your friend once they are surrounded by others and then loudly demanding your hard earned money back. It is best to speak to them within private, rather than make them a public exhibition before other people.
Even if your friend does not show that they're annoyed with your public approach, they will not thanks for it and this could wreck your friendship, even once you have received your money.
Stick to the Facts
When you've been waiting patiently for your friend to pay a person back, but there has been no sign of them mentioning the subject, let alone taking any positive steps to do this, this can lead to a justified sense of frustration as well as betrayal.
Rather than lash out at your friend, stay with the facts as they stand. How much does your own friend owe you? When did they agree to spend you back? Did they agree to pay you entirely or in installments? Present your friend with the facts whenever you confront them.
Owing a friend money can easily change the dynamics of the relationship. But you will want to preserve the companionship, if at all possible. Start off by fulfilling your end from the deal. This can be as simple as waiting per month for your friend's money to come through before they've enough to pay you back. But if your friend owes you money and offers still not approached you to repay the loan once you have fulfilled your end of the deal, speak to them in private concerning the matter, rather than letting the whole world know your individual business. Stick to the facts when you confront your own friend, so that you do not say something you might later regret.