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Life Kit

The social etiquette of lending money

Life Kit

NPR

Health & Fitness, Self-improvement, Kids & Family, Education, Business

4.33.9K Ratings

🗓️ 7 May 2024

⏱️ 26 minutes

🧾️ Download transcript

Summary

If a close friend or family member is in need of money, your first impulse might be to help out. But what if they don't pay you back? What if they need more than you can provide? How do you ensure your financial agreement doesn't harm your relationship? There are no hard and fast rules around lending money. Expectations may depend on culture, financial status or even your marital status. Advice on when to give — and how to say no.

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Transcript

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0:00.0

What does it mean to be black in America?

0:04.3

And NPR's Black Stories, Black Truths,

0:07.3

a collection of stories as varied, nuanced, and dynamic as the Black experience, you'll hear it means everything.

0:15.0

Search NPR, Black Stories, Black Truths, wherever you get your podcasts.

0:20.0

You're listening to Life Kit. casts.

0:27.0

You're listening to Life Kit from NPR. Hey, what's up,

0:28.0

Hey, what's up everybody.

0:32.0

Andrew Lindbong here in for Mariel Segara. Okay, Life Kit is no stranger to tough, uncomfortable conversations that you maybe want to put off for as long as possible, especially when it comes to money and when it comes to

0:45.6

relationships and when it comes to mixing money and relationships. But today we're going to cover

0:51.0

a conversation that can outright end friendships.

0:54.8

So much of financial decisions involve emotions.

1:00.0

And if you want to ruin a relationship, lend somebody some money.

1:04.0

Lending money. And we're not talking about picking up the tab at dinner or spotting someone

1:08.9

for movie tickets. We're talking about covering someone's rent or car payment, a significant dollar amount for you, whatever

1:14.8

that may be.

1:16.2

And listen, if you're in a position to help out your friend or family, that's great.

1:21.6

It can strengthen the relationship and be beneficial for everyone involved.

1:25.7

When we engage in these communal activities, it reinforces our social bonds.

1:31.6

And so I think there's so much beauty in that. And ultimately, I think there's

1:35.8

beauty in knowing that the person that you love is not suffering anymore, that you gave them peace

1:40.8

of mind for some period of time.

1:44.4

But how do you know if you are in a position to help?

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