Do you lend family money?

Discussion in Misc & Others started by True2marie • Aug 23, 2014.

  1. True2marie

    True2marieActive Member

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    I have been on both sides of this coin, lending and receiving. As a result, I have concluded that it's better to give family the money without any strings attached or not at all. For whatever reason, when family member feels he owes another one anything it messes up the relationship and brings out the worst in people.
     
  2. eppie

    eppieActive Member

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    Money matters sometimes do bring out the worst in people and good thing that my siblings are easy to talk with when it comes to money. I lend money to my sisters/brothers and expect them to pay (and in time) but only if it involves a big amount of money. But if it's just a few hundred, I will say that they can pay me back when they're ready (though I don't really expect them to). :)
     
  3. daimashin

    daimashinActive Member

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    It depends on how much they are asking. I'm not a rich person myself so I'll have to see if it's beyond my means. I'll no doubt lend my family money if it's a small sum and for the right purpose. Don't count on me to pay off gambling debts though because it will only make it worse. They'll continue to gamble because they think someone will pay for them.
     
  4. beccagreen

    beccagreenActive Member

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    Yeah I tend to lend my family money after all I owe them a lot more than just financial and material things. But it depends on how much they're asking and how much I can give, of course I would give them all I can but the reality is, I still have my needs and I can't just give up everything that I own, that would be counter productive for both sides. But if they're asking something that I can give fully then I wouldn't waste a heartbeat.
     
  5. Verity Darkwaters

    Verity DarkwatersActive Member

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    I have helped out family members in need. My husband on the other hand hands out money to his family is if he were made of gold, and that is NOT the case. It is a bit annoying at times, especially when I know they are using him, but I can't tell him not to help his family. That would be wrong. I have never asked for money though, I've went without. I guess I'm somewhat prideful.
     
  6. sidney

    sidneyWell-Known Member

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    Well my bro years ago when his job still sucked would always borrow money from me when he's short of cash. He pays it back because I need the money and I was still in school. I on the other hand, used to borrow money from my dad when I had an unexpected expense, and he doesn't mind if I don't pay him back because they are only small amounts, like $25 at the most.
     
  7. Denis Hard

    Denis HardWell-Known Member

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    My aunt lent my sister about $1K two years back. One thing led to another and the money wasn't repaid. Somehow she [my aunt] decided that my family was to blame for that and till now she never speaks to any of us. That's what lending money to family or relatives does. It [creates misunderstandings which] will tear you apart, should one party be unable to pay back what they owe.

    Personally I never lend money nor borrow from anyone. Not family nor friends. I'd rather do without rather than owe anyone anything.
     
  8. forextraspecialstuff

    forextraspecialstuffActive Member

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    I will always lend money to family if they need it. Granted it would usually just be a little to my siblings, never more than a few hundred. I would always tell them to not worry about paying me back but they always would--I think they wanted to stay true to their word that it was a loan and not a gift. Family comes first for me and I really think that even if I had been burned in the past I would continue to lend them money if I could afford it.
     
  9. DrRipley

    DrRipleyExpert

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    Yes I do lend family money when they need it but I always try to only give out what I can afford to lose. That way I don't have any expectations of ever getting the money back and when I do it is just a bonus. I think that is a healthy way of going about it because I don't think I would be able to deny my family money if they really needed it, but at the same time I don't want to risk my own well being.
     
  10. deathbyprayer

    deathbyprayerActive Member

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    Depends on what they need really. If I can give it to them 100% sure why not, If I can't then why stress yourself further. I may sound like a total jerk here but I don't really just give away money I tend to really calculate things, since I do have my own financial needs and if I would render myself paralyzed if I give away too much then that's really not going to work for the both of us (family).
     
  11. GemmaRowlands

    GemmaRowlandsActive Member

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    I have done this in the past, however I have recently been placed in a situation where a family member said that they would pay me back and they never did. It wasn't actually a huge amount of money, but it made me realise that next time it happened, it could be, and this means that I have to be more careful when it comes to my finances. I know that in the future there are very few people who I would be happy to lend money to. It is a lesson that I have learned the hard way, but it is certainly an important one all the same.
     
  12. insertkittyface

    insertkittyfaceActive Member

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    It really depends on the situation.. There are certain people I wouldn't do it because of lack of trust, and some I would.. It really would come down to who it is and what they needed it for. I lent money to my father once and it's taken him 5 years to start to pay me back and really, it didn't even bother me, but if it was somebody else, I probably would not have been happy.
     
  13. smilemae

    smilemaeNew Member

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    I guess this is a common feelings we felt when lending to our relatives. We don't expect them to pay us. With my immediate family, I'm generous enough. I don't let them pay. But if they insist on paying, I will accept it. :) But for my parents, even if they insist, I won't accept.