It creates an awkward situation when family, friends or even your children ask to borrow money from you. If you are unable to satisfy their request, saying 'no' can be hard.

Listen to the entire request carefully
When a friend or family member is going through hard times, in addition to money, they likely want/need someone to talk to and vent. Providing your complete  support and attention can be extremely helpful and considered caring.

Provide a legitimate reason for saying 'no'
Don't just give them a big fat 'no'. Let them know why you are declining to lend money. If they can not accept your reasoning then they likely are only worried about themselves and their feelings (narcissistic). You may learn one's true colors in a situation like this. Don't get sucked into a back and forth conversation. Be gentle but firm!

Provide alternate ideas for borrowing and/or accomplishing goals
If you are unable to provide any financing, give some proposals for completing objective or other means of borrowing. If you have a child that is looking for help buying a car, consider helping them find a job so that they can save for a car and let them borrow your car when it is convenient for you.

Analyze your own situation
Before lending money or co-signing a loan, carefully take a look at your own personal financial situation. Are you have a hard time meeting your own expenses every month? Then why would you put yourself in a financial hole by lending money or co-signing a loan. Remember, if the loan you co-sign is defaulted, then you are on the hook for the entire owed amount.

Family Loans  
Questions to Ask Yourself
Promissory Notes
Borrowing from Family
10 Reasons Not to Lend to Friends
Helping Without Giving Money/Loans









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