Should You Lend Money to Family Members?

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Information Should You Lend Money to Family Members?

Title	:	Should You Lend Money to Family Members?
Lasting	:	8.24
Date of publication	:
Views	:	4,3 rb

I recently stopped giving my sister money and she flipped out on me and stopped talking to I told her she has a husband and he should be providing for her and this set her off I do not regret what I said and I do not care to mend the relationship with a person with entitlement issues I will gladly continually say no more often
Comment from : Mericul Moore

I would just gift it instead of loaning it
Comment from : Lindsay Hengehold

You hit the nail right on the head I loaned money to my father when my finances were horrible And he never paid me back
Comment from : reginald robinson

It’s a Hell No from me now After being tricked to loan money and terms changed when I asked 5 years later Only paid back 56 of 20k, 0 on 30k and 0 on 77k I think I am done with family It feels like I’m being burned for being responsible Thank you, from now on I’ll be taking the vacations and starting my own hobbies I feel super salty for having to pick up all these tears No more now
Comment from : Elliot Myers

Thanks for your good advise, I lent money to family members,and they ditched mei never heard from them again
Comment from : murray D

Thank you for your useful videobrI’d like to add this, especially to parentsof grown children: brIn real life, “Hell no” might be the “calculated” answer If it IS your answer:br1) Don’t lend or give moneybr2) Set aside time to visit your child in the homeless shelterbr(I’m being sarcastic)brIn other words, it’s easy to make a video including a “hell no” decision In real life, it’s 100,000 times harder to refuse somebody with no other sources of money, despite the small chance of ever being repaidbrNote: Dave Ramsey says: Never LEND to family members but you can GIVE to thembrLike your excellent video says: “Needy people in our lives is a tricky business”
Comment from : FlaschDJ

You're video was 2nd after Dave Ramsey when you search for "lending money to relatives" and virtually Dave plus the next dozen or so recommend not lending to relativesbrbrBtw, those white rings around your pupils look really weird and distracting Is it a white ring light that's reflecting off lenses you're wearing? Though, when your eyeballs look to the side the rings remain in the same spot (ie no longer centered on your pupils)
Comment from : nGAhGENVH0Ul

NO hang up on them when they call or don't ever ever answer their knocks at the doormitchell - sunshine coast queensland australia
Comment from : Mitchell And Rachel M

It doesn't guarantee the person will pay you back
Comment from : Georgina

Nope
Comment from : Silas Emrys

NEVER loan money NEVER!
Comment from : The Peter Dislike Show

As I don’t want to loose the family member or the money I prefer to not lend money to nobody If I am willing to help and I can help I would prefer to give the money I won’t expect the money back I lended money before and there will be always weird situations or bad impact in your relationships Specially if you are in a comfortable financial situation, some people assume you don’t need the money back and you are charging them the money back It’s always loose/loose situation
Comment from : Thiago Buarque

I’ve lent my parents money as an adult but they always pay be back, I’m debt free with an emergency fund so I can do without but I do wish they had better money habits and budgeted so they wouldn’t have to rely on me I’ve also lent my little sister money (and gifted) since she’s in college My older sister did the same for me when I was in college and I’m very grateful!
Comment from : Anais Estrella

Sis,brIm 24 and since ive been 18 ive ingrained to my 2 brothers I will not lend you money EVER im saying it now cause i dont want you to come to me when you're 30 b/c you know what i will say brUnless someone has an illness that is leading to death at that ppint im gifting you money
Comment from : nolongeravailable

Definitely sketched out by this concept
Comment from : Brendan Evan

I lent out money to one of my friends as of late it's been approaching over a year and she still has not payed me back brbrit's frustrating on my end because it was always some excuse she would come up as to why she didn't have the money (she had to feed her grandma, she forgot about this other bill, she had to get surgery and couldn't go to work for two weeks, she got fired, etc) brbrNormally I am VERY understanding; however it's hard to be sympathetic with her when all these events she's been describing as the reason for the delay happened a couple months apart from one another brbrEven more frustrating because I constantly see her going out and drinking, smoking, or buying an unnecessary amount of handmade masks, or other clothingbrbrWe shared a storage, and when she couldn't make the payment last month (again) I finally had it and got my own I informed her and she was upset but in the end I just told her i didn't want to be liable for her anymore
Comment from : Just Moni

Same method applies to lending to a friend I lent $200 knowing I probably won't get it back even when I was still struggling $200 is a lot when you aren't making alot 2 years later they are still struggling financially while I am continuing on my debt free journey, so I've never brought it up If you lend, assume you'll never get it back If you do, that's a positive But if it's to a friend or relative, consider giving it as a gift no expectations If you gift once and they still need more help, learn when it is a good time to walk away
Comment from : Lilazn

I would often lend money to my siblings, one older and one younger, and it did irritate me when I didn't receive my money back Now I just "give" versus loaning to keep feelings of resentment out of the mix
Comment from : Dyana Marie

Thanks for taking my video suggestion Great video 🙂
Comment from : Shannon Brown

I stay away from getting involved in these type of situations
Comment from : Think Money

I appreciate this video The thing I run into is only hearing from certain family members when they need something, and it's incredibly hurtful And I feel bad because I am in a position to help, but I don't want to help because I just feel like I'm being used
Comment from : the kuhniverse

Here’s a good video topic: Should you tell family members how much you make???brbrYES ON BOUNDARIES! I haven’t borrowed money from my family members yet (parents don’t count) and haven’t been asked either
Comment from : Joy Mae

I borrowed money from my mom, once for $10,000 and the other time for $15,000 I wish we had agreed on the repayment terms beforehand because when I tried to pay her back monthly she almost wouldn’t accept it She would randomly change the terms like “oh just pay me $5,000 on my birthday” it stressed me out because I just wanted to pay her off now And I felt like I had to listen to her opinions because I owed her money Like she was still controlling me I really never should have asked for the loans And she should have accepted my payments back to her and been more clear on her terms
Comment from : Positive Mindset

If we lend money to family we treat it as a gift, that if repaid is a bonus Untethers you from the lender/lendee dynamic We set expectations that we aren't an ATM, but we're willing to help in sticky situations It also helps to fully know the character of the person to whom you are giving the money
Comment from : Levi Hamilton

I think this is definitely something everyone on this journey can relate to I grew up with very little money and now that I am really taking care of myself financially, I feel the need to help my family out because it feels good to be able to Luckily my husband is here to keep me from doing that TOO much or we wouldn’t be hitting our goals
Comment from : Samantha N

I borrowed 5k to a family member I got 1k back never seen 4k of the money that was in 2019 I just give up in end walked away never agane will I borrow money 💰
Comment from : David Trice

Nice video Justine IMO, to family or anyone should be similar to investing: Never Invest(loan) any amount you are willing to totally losebrAs far as Dave Ramsey goes, I think he would put a limit as to how many times he would "gift" someone
Comment from : Danny Phoenix