Lending Money to Loved Ones (Ep. 35)
Are you tired of the stress and drama that lending money to friends and family can bring into your life?
Let’s unpack it together.
In this episode, Financial Dignity® Coach, Christine Luken, dives into the world of lending money to friends and family, exploring the nuances, risks, and strategies for maintaining financial harmony in relationships. She discusses the pros and cons of lending money to keep your relationships and finances healthy and drama-free.
Christine’s top takeaways:
- Lending money changes the nature of the relationship.
- If you can’t afford to give it, you can’t afford to lend it.
- Co-signing a loan is NOT a better option.
- If you’re loaning a significant amount of money, draw up a loan agreement in writing.
- How to politely say NO to requests for loans from loved ones
- How to help out loved ones in need
- And more
Resources:
- Money is Emotional: Prevent Your Heart from Hijacking Your Wallet by Christine Luken
- Work 1:1 with Christine, apply for Financial Dignity® Coaching
- Are You Helping or Enabling? (Ep. 20)
- Why You Should Let Your Kids Fail With Money With James Lenhoff (Ep. 4)
- Living a Rich Life: The No-Regrets Guide to Building and Spending Wealth by James Lenhoff
Connect with Christine Luken:
- Christine Luken, Financial Dignity® Coach
- LinkedIn: 7 Pillars, LLC
- LinkedIn: Christine Luken
- Instagram: Christine Luken
- Facebook: Christine Luken
- TikTok: Christine Luken
- YouTube: Christine Luken
- Hello@ChristineLuken.com
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