Don’t Lend Money That You Can’t Afford to Give Away

Posted by CapWay in LoansDecember 10, 2022(Last Updated December 29, 2022)2 min read
Key Takeaways
  • Allowing family or friends to borrow money can put your relationship at risk should something go wrong. 
  • People will often give you a sob story to borrow funds but will have a different attitude if or when you have to ask for your money back.
  • You must think about your financial position before trying to help someone else. 
Are you ready to make some real money moves?

In Drake's song titled "All Me," he raps, "I've been taught to never loan somebody what you need right back." 




Regardless if you are making $8.00 per hour or $80,000 a year, people still find themselves living paycheck-to-paycheck. That can be due to not making enough money to meet life's basic demands, poor money management, or both. However, another reason may be our inability to say no to family members and friends who come to us to borrow money. 


You can't lend away what you don't have, and you shouldn't let anyone borrow money that you can afford to give away.


Money can ruin relationships. 

Lending out cash could strain the relationship with the person you let borrow the money. While you may fall weak to the sob story told to you to get the funds, that same person can turn vicious when you ask for your money back. So yes, that means your best friend may catch an attitude with you when you call for your money back, almost as if you owe your friend money versus the other way around.


man begging wife for money

Lending money can put you in a financial strain.


Your needs could be put on hold due to not getting your money back. For example, let's say that you let a friend borrow $100, and they told you that they would pay you back no later than the end of the month. If they do not stick to their word, that may mean you fall short of the funds needed to pay your bills due in the upcoming month. As a result, it could lead to late fees on your bills, having to borrow money from someone else, or having to get a high-interest payday loan.  


Recommended Read: What Is a Payday Loan?


Only lend money you can afford to give away. 


Never let someone borrow money unless you can afford to give that amount away.


The best way to position yourself to help someone financially is to build a strong financial foundation and savings for yourself. There is nothing wrong with financially helping someone else, but only if you can afford it. If you can't, say no.

Was this content helpful?
Comments (0)

Sign In to leave a comment.

Download the CapWay App

Access more features to your Money Account

  • Money Goals
  • Request Money
  • Categorize Spending
  • Money Talk

The CapWay, Inc Debit Visa Card is issued by Metropolitan Commercial Bank (Member FDIC) pursuant to a license from Visa U.S.A. Inc. “Metropolitan Commercial Bank” and “Metropolitan” are registered trademarks of Metropolitan Commercial Bank ©2014.

1. For Money Account holders with a negative balance, the CapWay debit card will go into freeze until funds are deposited to bring account back to current. See terms and conditions

2. Sending or receiving money from other CapWay account holders will be instant. Transfers from other accounts could take up to 48 hours, depending on the financial institution.

3. Early access to funds requires direct deposit. Early payment is not guaranteed and is dependent on the timing of payer's submission of deposits. We generally post such deposits on the day they are received which may be up to 2 days earlier than the payer's scheduled payment date.

4. Money Goals allows account holders to save money towards financial goals created within the CapWay platform. Funds can be transferred from your Money Account or saved through the rounding up of your transactions from purchases.

5. CapWay offers financial content through Learn Money free of charge, but may include advertisements through affiliates. Phunds, CapWay's literacy program and session, is paid content or co-branded content.

© 2019-2023 CapWay Inc. All Rights Reserved.