3 Tips to Lending Money to Family Members
Have a Contract
When you lend money to your family members get it in writing. The contract should state the amount of money offered and the terms to which you agreed it should be paid back. Both you and your family member should sign and date it and you should both keep a copy. This protects both of you from any misunderstandings or miscommunications. By ignoring this you don't want to get stuck with your own bad debt later.
