Anyone have good methods for dealing with friends that ask you to spot them since they know you make more than them? I try to be nice but it’s getting to the point where I am getting severely inconvenienced in having to ask them for the money back. I feel like I am being scammed but they have been long term friends.

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Say no sorry, my port is tanking right now because I bought BTC at 125k

likefunny

Any true friend I've ever had would not put me in this situation. Tell them that you aren't comfortable spotting them any more, and you'll know by tjeor reaction where your friendship, or lack thereof, stands.

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Sounds like you need to surround yourself with friends that make more money

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Honestly at some point those people aren't your friends. Is this during like planned outings/activities or are they just randomly hitting you up for money? If it's the first, I'd say start suggesting outings or activities that are in everyone included's budget. If they're just randomly hitting you up, I'd say you have had too many instances of multiple people asking to borrow money that they then don't pay back so you're no longer lending anyone money, period. And if they whine about that or try to claim they'd never do that, a) tell them to be fair you have to apply that same principle to everyone, not just some people, and b) anyone whining at you for not lending them money is probably not that good of a friend, tbh. Like I've had hard times and have had friends have hard times. It's one thing to offer to spot them without them asking or just send them some money because you love them and want to help, it's another to just be a whiny mooch.

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I’d never just give money if someone asked me WTH. If it’s family it’s another story and even then it’s better to pay for a need then to give cash that could be spent on who knows what

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Here is a template, use as is DO NOT EDIT.
“My budget is overly subscribed and I am unable to help now or in the foreseeable future”
Use it both verbally and/or written.

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Cutting them off was my solution

I spotted a friend a lot of money over the course of months. It turned out he was a gambling addict who was blowing it all.

Don't lend your friends money, period, unless it's for something very specific, you know they are responsible, and have a plan to pay you back. If they aren't proactive in showing you a concrete plan and updating you, they're not your friend or they're not serious about repaying you.

Even with above scenario, I have burned one too many times and will likely never lend money again. Been taken advantage of, and OP you are definitely being taken advantage of.

My friends have never asked me for money. Some make more, some make less, but none of us have asked each other for anything besides covering a round of beers with the expectation the other person will get it next time.

Had a couple friends that started asking me for money to help cover rent / bills and after a couple times helping them out I just started saying that i was wiped out that month from my own rent / bills. Pretty much just started blatantly speaking their language of “I don’t have any money” and it worked

I do not lend money and when I do such as with my son, it is a short term loan with interest TBD. This teaches financial skills and helps him in a bind. To be used only in dire need such as when he had an unexpected car bill. If you want to help a friend gladly tell them you will help them figure out their expenses and needs vs budget. If at that point you elect to provide a loan then set the terms. This will help you understand their issue and avoid wasting your $$.

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