Establish Clear Expectations and Written Agreements for Loans, Advises Roth
When lending money to friends or family, J.D. Roth emphasizes the importance of clear expectations and a formal agreement. He recommends drawing up a payment plan, possibly using an online loan calculator, and getting the terms in writing, such as through a promissory note.
The tape
2 quotes
“Be clear about your expectations. Draw up a payment plan.”
J.D. Roth
“Get it in writing. There are websites where you can fill out a form and for about $15, Get a complete promissory note.”
J.D. Roth
Heard on Optimal Finance Daily — “3719: [Part 2] The Right Way (And the Wrong Way) to Lend Money to Family and Friends by J.D. Roth of Get Rich Slowly on Financial Discipline”, published Thursday, October 1, 2026. Heardvine summarizes and quotes with attribution and timestamps, and links to the original everywhere.