Although constantly debated, there has been no official or regulated rule of thumb for lending people money. Can you only lend to close friends? What about that hungry acquaintance? I for one have been victim to the ‘I need lunch money’ charade and found myself with empty pockets. So how can you tell when it’s okay go lend someone 2 bucks or not?
1. Reputation
Everyone who’s ever borrowed money has had a ‘reputation.’ This is the first thing you need to look out for. The best people to lend money to are the Lenders, (the people who are usually lending you the money), the Guilty Kids, (the kids who would feel to guilty about not paying you back), and your close friends. Watch out for the Empty Pockets because they will NEVER pay you back. Also watch out for the one kid who borrows money from everyone but never returns it.
2. How They Ask
Some kids will ask offhandedly, “Can I have a buck?” Others will ease you into it by telling their long, hungry story. Which one is the best? Lend money to the kids who genuinely need it! If you saw that kid waving around a 10 dollar bill just minutes ago, maybe he doesn’t need it right now. The best kind of person to lend it to is someone who doesn’t have a lunch. This person will A) Feel grateful you lended them money and B) Be thankful you lended them money. They’ll pay you back in a jiff! It’s win-win.
3. Closeness
Lending to someone who’s close to you is never wrong! By accepting them as a friend, you are already placing a certain level or trust on them. If they don’t pay you back, well, were you really that close of friends?
So either way, take this as the newly-defined rule of thumb for lending money. And as for the kids who still haven’t paid me back, this is dedicated to your wonderful hearts.
There’s this saying that “If you lend someone $20, and never see that person again; it was probably worth it.” I guess it all depends on your perspective!