Loans to friends
How to keep track of money you lend to friends
Keep the amount, the promise and what changed in one place.
The quick answer
Record who borrowed the money, how much you sent, the currency, the date and what you agreed about repayment. Keep the original message or transfer reference. Add each repayment and any new promise as a separate entry, so you can see both the remaining balance and the history.
You send a friend $500 for a car repair. They say they’ll pay you back on payday. Two weeks later, you remember the transfer. You’re less sure which payday they meant.
That is the part a bank transaction cannot tell you. A useful loan record keeps the conversation beside the amount.
What should you write down when you lend money?
Start with a few details you can find again. A note on your phone, a notebook or a spreadsheet can work.
- Who: the person’s name and a way to contact them.
- What: the amount and currency, and why you sent it.
- When: the date you actually sent the money.
- The agreement: whether it was a gift or a loan, and the repayment plan you discussed.
- The source: the relevant message, receipt or transfer reference.
- The next step: a repayment date, or a date to check in if nothing is agreed yet.
“Payday” needs a follow-up question. So does “when things settle down.” Keep the original wording, but leave the repayment date blank until you both agree on one. Your reminder to ask is a separate date.
The Consumer Financial Protection Bureau recommends discussing expectations before family lending, writing down the arrangement and giving everyone a copy. Its family lending and borrowing guide is a useful starting point for that conversation.
A simple loan record you can copy
You do not need a complicated tracker for one loan. Put the key facts together, then update them when something happens.
Person: Sam Direction: Sam owes me Amount sent: $500 USD Sent on: September 7, 2026 For: Car repair Repayment agreed: September 25, 2026 Source: Text conversation and bank transfer reference Repaid so far: $0 Still owed: $500 USD Next check-in: September 25, 2026
This is a fictional example. Replace it with your own details and keep the record somewhere private. You can leave out a sensitive reason if it does not help you understand the arrangement.
If your friend has not confirmed the details, send a short recap:
“Just keeping a note: I sent you $500 for the repair today, and we said September 25 for paying it back. Is that right?”
A private note records your understanding. It does not, by itself, show that the other person agreed. Keep their reply too.
How do you track partial repayments?
Record each amount when it arrives. Keep the original loan amount visible and subtract confirmed repayments from it. A promise to send money is still a promise until the payment arrives.
| What happened | Money received | Still owed |
|---|---|---|
| Sep 7 · Sent the loan | — | $500 |
| Sep 25 · First repayment | $200 | $300 |
| Oct 2 · Final repayment | $300 | $0 |
Add a reference for each payment if you have one. If your friend sends $200 and says “the rest next Friday,” save the payment and the new date separately. Otherwise it is easy to remember the money arriving and forget there is still a balance.
Keep different currencies separate. A dollar amount and a euro amount should not become one unexplained total.
What if the repayment date changes?
Keep the earlier date, then add what changed. For example: “September 25: received $200. Sam said the remaining $300 would arrive October 2.”
Set your next reminder for the new agreement. There is no need to keep checking a chat every day when you already know the next step.
If the date passes, use a clear repayment message that mentions the remaining balance. The history helps you ask about the right amount without reconstructing the whole conversation.
Notes app, spreadsheet or loan tracker?
Choose something you will actually open when a payment arrives.
- A note: useful for one or two loans, especially when you need the story as well as the numbers.
- A spreadsheet: useful when you want a list of people, balances and payment dates. Keep a separate payment history so you do not overwrite it.
- A dedicated record app: useful when finding the source and remembering to follow up are the hard parts. Check its privacy controls, export options and treatment of changed dates.
Remaini is being built for that last situation: a private iPhone record of what you’re owed, what you owe and what was promised. You can see the planned workflow. You can use the record above today without waiting for the app.
Questions that come up
Can I track a family loan the same way?
Yes. Record the people, amount, currency, repayment expectations and changes. First make sure both people understand whether the money is a gift or is expected back. A tracker cannot resolve that ambiguity for you.
Should I mark a loan overdue if we never agreed on a date?
Leave the due date unset and ask for a specific plan. You can set yourself a reminder to have that conversation without presenting your preferred date as an agreement.
Is a loan record the same as a loan agreement?
A record keeps the facts and your understanding together. It may not contain the terms or confirmation needed for a formal agreement. This guide is about keeping a useful record; it does not establish whether an arrangement is legally enforceable.
What should I do when everything has been repaid?
Mark the balance as zero and the loan as settled. Keep the history and the final payment reference so neither of you has to piece it together again.
Written by Remaini. People, amounts and messages are illustrative. About these guides.
