Definition & Meaning of "great spenders are bad lenders"

great spenders are bad lenders

used to discourage people from lending money to those who are not good at managing their own money, as they are likely to be bad at managing other people's money as well

Proverb

What is the origin of the proverb "great spenders are bad lenders" and when to use it?

The proverb "great spenders are bad lenders" does not have a well-documented origin tied to a specific text or individual, however, it reflects traditional financial wisdom expressed in various forms throughout history. The saying highlights the risk of lending to people who do not practice financial discipline, as they may not have the ability to repay loans or use the money wisely. It serves as a reminder to carefully consider the financial habits of others before offering financial help or lending money.

Example

My friend learned the hard way that great spenders are bad lenders when they lent money to someone who had a reputation for overspending, and never got their money back.