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How to keep track of money you've lent

Lending to family, friends or customers is easy. Remembering exactly who owes what, how much interest has built up, and what's already been repaid is the hard part. Here's a simple system that holds up.

Why "I'll remember it" fails

One or two loans are easy to keep in your head. But add a few part-payments, a top-up, different interest rates, and a couple of months — and the details blur. The result is awkward conversations, money quietly written off, and interest you never collected. A written record protects both the relationship and your money.

What to record for every loan

Whatever method you use, capture these for each loan:

• Who — the borrower's name (and a phone number, so there's no ambiguity).
• How much & when — the principal and the date you gave it.
• Terms — interest rate (and whether it's monthly or yearly), or "interest-free".
• Schedule — when repayments are due (one date, monthly, weekly, daily, or a lump sum).
• Every repayment — date and amount, as it comes in — including partial payments.
• Changes — top-ups (lending more) and any change to the due date.

Your options — and their trade-offs

How LendBook does it for you

LendBook is a private app for exactly this — tracking the loans you've personally given (it never lends money itself). You add a loan once, record payments as they come, and it keeps the rest straight:

• Interest and outstanding balance are calculated automatically for every loan type (monthly/yearly interest, EMI, daily, weekly, lump-sum, interest-free).
• A daily dues list and reminders mean you never forget a collection.
• Top-ups and part-payments adjust the balance and interest correctly.
• A clean statement for any borrower settles "what do I owe?" in seconds.
• It's private — encrypted, PIN/fingerprint locked, no ads, exportable any time.

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