Handling Money: Lending & Borrowing Quiz

What is usually true about loaning money to friends?

• It’s always a good idea

• It helps build stronger friendships

• It can hurt the relationship

• It guarantees they’ll pay you back

What does Blake say about asking a friend for your money back?

• Never ask—just wait

• Ask as soon as possible but know you might not get it back

• Only ask after a month has passed

• Tell their parents instead

Why might a person feel bad about saying “no” to loaning money?

• They think the friend will give them extra money later

• They don’t understand budgeting

• They are afraid they’ll lose their friend

• They want to test their friendship

What is one helpful thing you could offer a friend instead of money?

• Pay all their bills

• Help them work out a budget

• Take them shopping

• Give them more loans

Why might loaning money to friends make things weird?

• Friends always expect gifts

• They might move away

• They might feel guilty or you might feel used

• You will have to sign a contract

What is a better solution than loaning money for something small like lunch?

• Call their parents

• Take them out to lunch with a loan contract

• Just give them lunch as a treat

• Tell them to ask a teacher

According to the text, what should you include when setting up a payment plan?

• The bank’s phone number

• Interest and a schedule for repayment

• A friendship agreement

• A list of excuses

What might happen if you don’t repay borrowed money?

• Your friend might thank you

• You’ll automatically get more loans

• People might not trust or lend to you again

• You’ll get a reward

What does Blake say is the best way to keep your friends?

• Talk about money often

• Keep your friends by keeping money out of it

• Only loan small amounts

• Always ask for gifts in return

What is the general advice about borrowing money from friends?

• It’s a smart way to avoid working

• It’s a great way to build trust

• It’s not worth it—get a job instead

• It’s okay if you pay interest