A buddy of mine asked to borrow $3000 from me due to being in between jobs and having a personal emergency. I have 5 digits in savings and am not in any debt, but the amount he is asking me to lend him seems outrageous since it is about an entire month's paycheck for me. I have more than enough money to support myself for a month comfortably, but I feel that I work much too hard at my very horrible workplace to want to go a month without pay in the name of benevolence or generosity. I also know better than to lend or gift money out in large sums (greater than $250, as a personal preference), especially without a legally binding contract, which my schedule does not allow time to construct. Lastly, I feel that lending and borrowing money between different parties inherently causes drama, which I also do not have time to deal with. There is enough of that as it is at my work.
I do feel guilty for not being able to/not wanting to help, but at the same time, it is my money (not his) to spend, and my own best interest is at stake here.
Am I selfish/coldhearted for refusing to lend out $3k to a friend, or am I ethically justified in erring on the side of caution?
Fiat justitia, ruat coelum.--"Let justice be done, though the heavens fall."
Csts
USWest
2. Re: Is this selfish? 05/05/2010 07:13:22 PM PDT
Have you not ever heard the fancy ol' saying "Dont lend money to friends?"
I have. That's why I told him "No way!"
...Oh, I guess I inadvertently deleted that sentence in the original post. I was still both fuming and /facepalming about him even having the audacity to ask to borrow that much money while I was typing the post.
Fiat justitia, ruat coelum.--"Let justice be done, though the heavens fall."
Of course it's selfish - that doesn't make it bad, though. The best thing you can do is help him prepare for the next big shock.
Q u o t e: I've always believed that anyone who has the means to help someone else should. Take any superstar athlete, movie star, etc., for example. They make millions of dollars a year, and they just hoard it, when they could donate the vast majority of that money to charity and improve the lives of many unfortunate people and still live comfortably and securely.
Most of those people's assets are in a form where they're invested, generally doing productive work making life better for everybody.
Q u o t e: A petty thief is put in jail. A great brigand becomes a ruler of a State.
