- Do not lend money to friends unless you do not need them to pay you back. You will not lose a friendship by not lending money to a friend; on the contrary, you are more likely to lose a friend by lending them money.
- If a friend asks to borrow money due to emergencies like illness, bankruptcy, or getting lost, lend within your means, and after lending, it may not be necessary for them to pay you back. In non-emergency situations, your financial assistance may not significantly impact their life.
- Learn to say no; there is a saying that helping others can make you feel miserable, ultimately leaving you in a difficult position. Borrowing money often leads to such situations. You can say, "My friend, feel free to ask me if you need money; I can share how I managed when I had no money."
- Do not borrow money from friends; the reasons are stated above. Additionally, you have family, who are the ones that love you the most and are most willing to help you.
- Discussing money carries risks; be cautious when borrowing money.