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Q:
Should I lend my sister money?

Recently, my sister asked to borrow $2,000. I live in a different state and I am concerned about her ability to pay me back. Besides, I don't really have the extra money - I am a single parent! She's put me in a very uncomfortable position and I don't know what to do. -Anne

Anne,

Although borrowing money is usually done with the best intentions, lending money to friends or family can put you in an unfortunate situation of being left without your money and possibly your relationship. Furthermore, you should never loan money to a friend or family member if the money is something you cannot afford to live without. Before agreeing to any loan, try opening the lines of communication. It may be that your friend would be better off by working with a reputable budget counseling organization. Sometimes, saying “no” is the best thing you can do for someone.

Good luck with your decision,

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