On today's show, Reggie is talking about a common dilemma we all face at some point in our lives, friends and family borrowing money.

I have lent money to friends and family members and borrowed money from family members and friends, and neither situation worked out very well.

I have learned a lot from both experiences. Each person will have a different experience based on the person who requested the loan.  In my case, I learned that I’ll never loan money to friend or family member again, unless it's for a proven need. Often we loan money to friends and family members with no stipulations. We offer them a loan on good faith hoping they will pay us back. Unfortunately some people will take advantage of your kindness. 

Loans to family and friends tend to be open-ended. No effort is made to  reach an agreement for a timeline for repayments, and interest are rarely included on loans to friends and family. This causes the person loaning the money to wonder when the money will be returned, especially if they are having financial issues. Which can lead to confrontation and resentment on both sides. 

 In this episode Reggie is sharing his personal experiences and some tips on loaning money to friends and family.

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