What is your view on loaning relatives/friends money?

[dreamcastrocks]

Depends on the situation. If somebody's car breaks down and they need money to have it repaired so they can get to work, you have to help.

If they sit on their ass all day instead of working, then you don't.

Each situation is different. Generally, I would say don't loan, but cars break down, divorces happen , people lose jobs- there are definitely situations in which I would definitely help.

It's up to you to determine if she REALLY needs help, or if she's just trying to take the easy way out. Think about it, consider it carefully and do what you KNOW is right.

Hey, I'm going through a divorce right now, anyone wanna "loan" me some money?

 

[jefftheshark]

Never ever, ever, ever, lend money to friends or family.


On the other hand, lending money to anonymous posters on an Arizona Sports themed website, especially if they have a friendly looking shark avatar, is assuredly a great idea under any circumstances.

You must be registered for see images attach

JTS

 

[justAndy]

I make my mom give me her wedding ring for collateral.








j/k

 

[Shane]

Ok your sisters car broke down and the only reason she cant afford to fix it is because of the weed habit. Now what?

????

 

[Ryanwb]

Sorry for the bump, but I had to vent for a sec, and this was the ironically perfect setting to do so!

Get a call today from this same person saying she "over-extended" herself this month and needs $500 today.



I am giving it to her, but told her that I am done "enabling" her ( aveRamsey: ). I'm just sick and tired of it. I'm trying so hard with this Debt Snowball and every time I seem to get some steam rolling, something happens. I'm sick of working two jobs and 60+ hours a week just to support two close relatives when they mess up with money.


WHEW okay end rant. But I'm done. DONE DONE DONE. And if I ever loan money to a relative w/o it being super serious (like... losing a home or something) then punch/hit/slap me. The hardest part is just saying no. Stupid guilty conscience.

Good luck to you! I have trouble saying no as well, which is why my brother AND my sister live with us.

I have been successful in doing this, if someone asks for money, I ask what it's for (I feel it's my right to know). If they say "rent" or "groceries" I insist on paying the rent directly or going down and buying the groceries. I've been burned too many times. The worst part is asking for the money back, it's just a bad situation all around for everybody. People just need to be responsible

 

[Jersey Girl]

Good luck to you! I have trouble saying no as well, which is why my brother AND my sister live with us.

Been there, done that.

My sister and brother are so much more independently and financially sound now that my parents and I both moved out of state.

 

[Ryanwb]

Been there, done that.

My sister and brother are so much more independently and financially sound now that my parents and I both moved out of state.

my brother has one year left of school and my sister just dumped the boyfriend/stalker from hell, so i want to help out

 

[Jersey Girl]

my brother has one year left of school and my sister just dumped the boyfriend/stalker from hell, so i want to help out

Oh, I see nothing wrong with helping out. When my sis lived with me, she was going to school and working. (She's done now and is looking for a teacher job for the coming school year.) The brother has been at the same job for almost a year now, which is an accomplishment.

It's just nice to see them succeed on their own now.

 

[thirty-two]

Good luck to you! I have trouble saying no as well, which is why my brother AND my sister live with us.

I have been successful in doing this, if someone asks for money, I ask what it's for (I feel it's my right to know). If they say "rent" or "groceries" I insist on paying the rent directly or going down and buying the groceries. I've been burned too many times. The worst part is asking for the money back, it's just a bad situation all around for everybody. People just need to be responsible

WOW that is nice of you Ryan to let your sibs live with you. Hopefully after what you did with your sister's credit, that she can use that positive momentum and keep it up and not let it fall back to what it was.

Ahhh family.... gotta love it!

 

[Shane]

I know I dont walk in your shoes Kate but I just dont see how saying no is all that hard.

 

[HeavyB3]

I had to loan my older sister some money so she didn't lose her house. Thankfully she just got a job so one day she'll be able to pay me back.