Everyone hates that friend who you begs you to lend them $20 for some top while you’re out shopping, but then is conveniently broke every time you ask for it back for the next 6 months. Right?

 

Equally, everyone hates the friend who lends you five dollars for a coffee and bugs you about it every second of every day until you give it back, like it was their life savings.

 

How you avoid being either person? These are really simple ways to keep all transactions at the Bank Of You hassle free!

1. Make a clear timeline — and deal with it.

 

If someone asks you to buy their movie ticket, but you know that you need that $20 back by Friday to pay for your car rego, let them know. If you don’t and then get all “Well, I lent you money a week ago and I need it by tomorrow…,” it’s your fault if they don’t have it. Furthermore, if you say “give it back to me whenever,” be prepared to get it whenever (within reason). If they feel like you don’t care, they might decide to buy a new dress instead of paying you back that week.

But on the flipside…

If they said you can give it back ‘whenever’, don’t aim to give it back in two years.

 

Even if they said ‘whenever’, they probably mean sometime soon. You don’t have to miss a night out on the town so you can pay them back the next week, but don’t put it at the bottom of your list of priorities. If you have the money, give it back to them — don’t just keep it because you’d rather have it in your pocket. You’re going to have to pay them back whether you’re $30 poorer this month or next. The quicker you pay them, the more friend brownie points you’ll earn, and the bigger the chance they’ll lend you money in the future when you really need it!

2. Budget to pay them back on time.

 

If your phone bill is due on the 30th of May, you make sure you have that $80 by the 30th of May. Because you ain’t living without a phone. That’s crazy talk. If your friend asks you to pay her back by the 30th of May, make sure you have that money. If you need to pay your bills you might skip an expensive dinner or not splurge on a 200 dollar pair of shoes, so treat it exactly the same. You may not lose your texting privileges but you’ll definitely be losing some friendliness between you and your mate if you rock up to a party in brand new Windsor Smith’s, but without her 40 bucks.

But on the flipside…


Understand that not everything goes to plan.

 

You may have asked your friend to pay up, but if she just got into a major car crash and has to fork out $1000 worth of excess she probably won’t have it. Be reasonable. Obviously if the reason is “OMG but Sportsgirl had this massive sale!” you have more reason to get pissy. If you absolutely NEED the money that VERY day, see if you can work something out with her friends, her parents, or borrow it off someone else and pay it back to them when you get it off your friend.

3. Don’t freak out about the 55 cents.

I’m sure we all know someone who lends you $50.55 and when you go to give it back they say, “No, $50 is NOT okay, you still owe me 55 cents!” and you just want to punch them in the head.  Don’t be that person. 55 cents is the kind of money you drop and don’t bother to pick up because it doesn’t matter. If it’s only about principles, just drop it.

But on the flip side…

Don’t freak out about the 45 cents.

If you owe them $50.55 and you give them $51… Do not ask for change. No. Don’t be a douchebag. Fight the urge.

And just generally…

4. Remember: it’s just money.

 

You should never withhold something (such as lifts to uni) until they pay you back. If they don’t, just remind yourself to never lend them money again. It’s not worth losing a friendship over 30 dollars.

The best rule of thumb is one that you should use regarding everything: treat other people the way you want to be treated. And don’t be a dick.