WWYD? $$$

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Kattie E

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What would you do if a nephew/niece came to wanting to "borrow" $2K?

You know if you gave it to them there would be pretty much no expectation of seeing it paid back. Meanwhile, there is a boat in their garage and all sorts of fishing equipment. This is not a case of unemployment but just not saving for something unexpected.
 
Does $1900 count?

Yes, I made the loan and I have little expectations of seeing it again.

But, it is family, and that means so much to me.

However...the bank is closed to that particular family member. Hey, there are limits to everything. ;)
 
I do not "loan" money. If I have to it give and I think the request is reasonable or truly needed I do. I have no expectations of getting it back and if by chance I do, it is a bonus.

~ What they have makes no difference to me. Just because they have something of value, unless they purchased it that day, doesn't factor into my decision. They could have bought that stuff while times were good and big items are probably tied up with a loan. Selling stuff in this market might not produce the money anyway. ~
 
Like GD and SD, I don't "loan" money to family. If a family member needs it, isn't a constant mooch or a layabout, and I have it, I give it to them. If it comes back I'm pleasantly surprised, but the last thing I want to do is let money get in the way of family.
 
Kattie E said:
What would you do if a nephew/niece came to wanting to "borrow" $2K?

You know if you gave it to them there would be pretty much no expectation of seeing it paid back. Meanwhile, there is a boat in their garage and all sorts of fishing equipment. This is not a case of unemployment but just not saving for something unexpected.
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You could just tell them that you won't "loan" them the money, but you will buy the boat for $2K...
 
lotstodo said:
Like GD and SD, I don't "loan" money to family. If a family member needs it, isn't a constant mooch or a layabout, and I have it, I give it to them. If it comes back I'm pleasantly surprised, but the last thing I want to do is let money get in the way of family.
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That's right. The first question is, do you have the money? If you have lots of debt, then you don't. My son and his wonderful wife would die before they ask for a dime. She has gone back to school to be a nurse. She needed a computer so we got her a mac laptop for her birthday. I went to Alabama to give it to her. Our choice, she never asked. My stepdaughter (who married an idiot) is always asking for money, the Chief has given her thousands over the years. The last few times, I put my foot down and said no. I said it was way past time for her to stand up on her own. If your nephew is responsible, then you might consider it. There would be a ton of dynamics in play.
Our standard wedding present (all our children have a copy, too) is Dave Ramsey's Total Money Makeover. I would get them a copy. We have followed the program (for the most part) because it works. No read "the book", no loan for you. That's how it works. We would know they didn't or they wouldn't be asking for money. Stupid should hurt, it's my job to make sure it does!
 
I have loaned money to many family members and never got a dime back but never expected it. The last time was when I borrowed $1,000 to loan to a niece to get a divorce. However, those (other than my children) that I have loaned $$$ to never got a second loan from me. Not because they didn't pay it back, but because they never even said, sorry, having hard times and will get it back to you ... or anything to acknowledge they even owe it. :(
 
Even if I were in a position to help, it would totally depend on the person and situation. Most instances my answer would be NO for that amount of money. Again, it just depends...
 
At his age if he has to ask for 2K he needs to start reviewing his spending habits. Answer is no.

If it were a family member who has acted responsibly with their financial affairs, the answer would be yes in a heartbeat and I would never even think about it being repaid.
 
Kattie E said:
At his age if he has to ask for 2K he needs to start reviewing his spending habits. Answer is no.

If it were a family member who has acted responsibly with their financial affairs, the answer would be yes in a heartbeat and I would never even think about it being repaid.
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Ah....well....since you're not giving it to him, that should cover the cost of my DallasHwy.com garage floor tile with some to spare! :DN

:laugh
 
Jack Reacher said:
Kattie E said:
At his age if he has to ask for 2K he needs to start reviewing his spending habits. Answer is no.

If it were a family member who has acted responsibly with their financial affairs, the answer would be yes in a heartbeat and I would never even think about it being repaid.
Click to expand...

Ah....well....since you're not giving it to him, that should cover the cost of my DallasHwy.com garage floor tile with some to spare! :DN

:laugh
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It does sound a lot better when you call it a "donation" doesn't it? :D
 
lotstodo said:
Jack Reacher said:
Kattie E said:
At his age if he has to ask for 2K he needs to start reviewing his spending habits. Answer is no.

If it were a family member who has acted responsibly with their financial affairs, the answer would be yes in a heartbeat and I would never even think about it being repaid.
Click to expand...

Ah....well....since you're not giving it to him, that should cover the cost of my DallasHwy.com garage floor tile with some to spare! :DN

:laugh
Click to expand...

It does sound a lot better when you call it a "donation" doesn't it? :D
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We think very much alike ;D
 
I'd tell him/her to learn how to sell their body for sex/science experiments because they aint getting that money from me.
 
Jack Reacher said:
Kattie E said:
At his age if he has to ask for 2K he needs to start reviewing his spending habits. Answer is no.

If it were a family member who has acted responsibly with their financial affairs, the answer would be yes in a heartbeat and I would never even think about it being repaid.
Click to expand...

Ah....well....since you're not giving it to him, that should cover the cost of my DallasHwy.com garage floor tile with some to spare! :DN

:laugh
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Sounds like you need a garage floor tile ministry. You can get donations then. :snick_bunny
 
if they wanna cut my grass I would pay them but not 2K for it lol
 
BeatBoxinGranny47 said:
I'd tell him/her to learn how to sell their body for sex/science experiments because they aint getting that money from me.
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:HAHA There you go; that's the right answer!
 
Don't loan money to family. Gift it.

But...can you afford the gift? Is there a reason to give the gift?

I'm surprised a nephew would be asking for money. Is he coming to you because other family are no longer loaning him money?

I would not. If there is a reason to help, I liked the suggestion of buying the boat. However, from the sounds of things, this will not be the last time the nephew will need money.

Just say you're not able to loan the money right now. Don't go into reasons or preaching.
 
BeatBoxinGranny47 said:
I'd tell him/her to learn how to sell their body for sex/science experiments because they aint getting that money from me.
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Boy, you ain't right :laugh
 
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