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What to do if a loved one asks to borrow $1,000

How to navigate loan requests from a loved one without damaging your relationship.

This story is part of CNET Money Tips, CNET's helpful tips for saving money now and protect your wealth in the future.

To loan or not to loan? Lending money to a loved one can be fraught with difficulties, and often you run the risk of hurting both your wallet and your relationship. 

In order to avoid misunderstandings or resentment, it's important to ask the hard questions, prepare a plan of action and establish a mutual understanding, no matter what you ultimately decide.