Woman’s Own – 26 August 2019

3 things... toconsider

before lending money

Sobeforeyouwhipoutyour

purseandagreetohandover

yourcash,here’swhatyou

needtothinkabout.

1 Isitaffordable?

Beforeconsideringlendingmoney

toa lovedone,it’sessentialto

lookatyourownfinancesfirst.

Workouthowmuchyoucan

comfortablyaffordtolend–

if anything.Alsothinkwhether

theycanaffordtoborrowthe

moneyfromyou.Encouragethem

toworkouttheirbudget,sothey

canshowyouhowthey

plantomake

repayments.

2 Getitinwriting

It’sa sensiblemovetoputa loan

in writing.Setoutdetailslikehow

muchit’sforandwhenit willbe

paidback.It willavoidconfusion

overwhethertheloanis a gift.

3 Whatifthey

can’trepayyou?

Circumstanceschange,sodecide

whatyou’lldoif theycan’trepay

you.Considerthisbefore

agreeingtolendanymoney.

lFormoreinfoonborrowing

moneyfromfamily,visit

moneyadviceservice.org.uk

Didyou

KNOW?

Overonein^10 UK

adultsownsasecond

home,according

tothe

ResolutionFoundation.

From2000-2014

thenumber

ofpeoplewithmultiple

propertiesroseby

1.6mto5.2m.

Nearly a third of Brits have borrowed money from

family and friends – but over half have no plans to pay

them back, according to new research by Lloyds Bank.

MONEY

Yo u r

PHOTOS: GETTY

HAVE YOU HEARD?

Brits hold over £1billion of debt
from guarantor loans, according
to BBC’s Panorama – and people are
struggling to manage them. Guarantor
loans enable people with poor credit to
borrow money, but both the borrower and
the guarantor are liable for repayments
as well as penalties for non-payment.
The investigation found the number
of people asking Citizens Advice for help
with these debts rocketed to 3,000 last year. DEAL OF THE WEEK

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50 (200ml) which was £19.99, now £14.99. Plus, you’ll get a free

100ml tube of Aloe Vera Gel, worth £3.99. Visit beautynaturals.

com or call 0800 980 6665 before 31 August 2019. Subject

to availability. Free gift is limited to one per order.

Guarantor^

loans can be a^

slippery slope

Think carefully

before lending

money to others

The dreaded back-to

-school shopping

can be costly

If you love to win

prizes then visit...

comps.womansownmagazine.co.uk