How to Loan Money to a Friend

If you loan money, get collateral from the borrower like a piece of jewelryYes, you’re reading the title correctly.  It’s not “Don’t Loan Money.”

Traditional personal finance advisors say you should never loan money to friends or family members, right?

Count me in as a fully tenured professor in that School of Thought.

What if you decide to ignore the advice and become a lender?

[Read more…]