Do You Trust Your Family Members Enough to Loan Them Serious Money?

[Cyber]

Originally Posted by radix

I don't think that cousins count as immediate family.

According to dictionary.com

Definition: one's parents, step-parents, siblings, spouse, children, step-children, foster children, in-laws, sibling in-laws, grandparents, great grandparents, step-great grandparents, grandchildren, aunts, uncles, nieces, and nephews

My personal def of immediate would be the people I marry, give birth to, as well as those who gave birth to me (including with anyone else who came out of them) and grandparents would be a strech for me personally....



The poll results are interesting thus far. A bit young minded... but interesting.

[10M3MAN]

Originally Posted by Crimson92

hell no, unless its life or death yes

anything else..money leads to problems

yep, it would have to be life or death for me as well...

Mo Money = Mo Problems

[drift90]

No.

When you get older, siblings seem to become ass whips,

But it depends on what.

[deamon32]

Originally Posted by Seminole

I'd owe it to my mom and dad for taking care of me and raising me. My sister/cousins/etc. would be a different story. If they are in a position where they need that kind of money then they most likely don't make sound financial decisions. I'm not prepared to risk the lifestyle of myself and my future family because someone can't keep their shit together.

+1

Cant really say no to my mom or dad after all they have done for me and my brothers and sisters. I'm glad my siblings arnt old enough yet to really need serious cash but it would all come down to the particular situation with them and how well they have their shit together.

[Cyber]

Originally Posted by deamon32

+1

Cant really say no to my mom or dad after all they have done for me and my brothers and sisters. I'm glad my siblings arnt old enough yet to really need serious cash but it would all come down to the particular situation with them and how well they have their shit together.

Okay what about this scenario:

Mom and Dad invested in a local food business and after 2 years it is not doing well. They keep hoping that the economy will get better and want to ride out the storm. Credit is not available to small businesses even though 1 trillion dollars was given to banks.

Now they would like family to lend them money just enough to keep operations and payroll going for one more year = half of life savings.

[original786]

parents and siblings only!
and maybe some nephew and nieces

[c0nstant]

wtf? people would really charge their family interest?

[E92-Lighting]

only to my blood family, meaning, mom dad, and siblings only, too bad for anyone else

[jaiman]

Originally Posted by jh valley

wtf? people would really charge their family interest?

Not charging interest is the same as giving money to them. Sure you may want to, but would anyone call you a bad person for not giving your family money every year?

I'd be very cautious about who in my family I'd lend money too, and why. To the OP's scenario, I'd say no without more details. Most small business don't last 5 years, what makes this one different? If you think the business is a good one, maybe it makes more sense to let this company fail, and start a new one. But without really, really detailed info its tough to make a call.

[AfternoonShift]

eh, yes and no. my brother is super cheap, so i lent him $ when he was in college. And its like pulling teeth to get the $ back from him. So if he needs $ i probably won't give it to him unless its very important. I won't lend $ to my sister, because she doesn't have a job.

My parents i will just give them $ if they really needed it... i wouldn't be looking for it back. They've spent plenty of $ on me raising me =)

[wakeboarder109]

very few people would fall in this category for me (parents, brother, grandma for sure)

[san~man]

I've found that "lending" money to family/friends means that you, the giver, do so knowing that it probably won't get paid back. As long as you're fine with that, "lend" away.

[Joonsup]

Although I drive a bmw, I don't have much money. But what I do have I'd give it all to my parents if they really needed it. That's the least I could do for them for putting food on the table and clothes on my back and a bed to sleep in while I grew up . If it were my brother, it would depend on how responsible he is. If he's struggling and in a jam I'd most likely help him out but if he's broke b/c he's throwing it away on bullshit, then probably not

[BMW F22]

I think the majority of you need to rethink things a bit here. I think it's a given that you should (or at least consider) give money to your parents and/or siblings if they really need it. THAT ASIDE, would anyone here actually give A LARGE AMOUNT of money to their aunts, uncles, cousins, etc. and NOT EXPECT IT BACK?? I highly freaking doubt it!! It's just a little funny how some people are saying "sure I'll give out huge amounts and not expect it back" only to sound high and mighty. Try keeping your parents and siblings out for a second and see how the picture will change. So stop with the "my parents gave birth to me and put a roof over my head blah blah blah" cus that is a given. If you don't already know that and appreciate it then you need to be bitch slapped.

[BMW F22]

Originally Posted by E92-Lighting

only to my blood family, meaning, mom dad, and siblings only, too bad for anyone else

Amen!! In family (parents and siblings) I trust, others...depends...

[Hecticrulerz]

Depending on what they have done for me I will do the same for them. Parents get what ever they need, little bro and sisters if I know aren't going to do dumb shit with it. friends and everyone else, they get help as I see fit. Like if they have helped me a lot in the past and generally good people and help others also etc. Then I help them cause they help everyone else and deserve something in return.

If you deserve it you get it.

[Sara]

Only to my Mommy. I wouldnt lend anything to my sister. August 2008 I sat in a courtroom while she plead guilty to grand larceny

[TiAg335i]

Originally Posted by radiantm3

I don't loan (immediate) family money. They are family. If they need financial help, I'll give it to them and not expect anything back. <3

+1

some of you guys are cold, real cold

now if you have criminals for family members that's another story

[BillLee]

my cousin owes me $700. its been a few months, so he's off the list now.

[Joonsup]

Originally Posted by BMW E90

I think the majority of you need to rethink things a bit here. I think it's a given that you should (or at least consider) give money to your parents and/or siblings if they really need it. THAT ASIDE, would anyone here actually give A LARGE AMOUNT of money to their aunts, uncles, cousins, etc. and NOT EXPECT IT BACK?? I highly freaking doubt it!! It's just a little funny how some people are saying "sure I'll give out huge amounts and not expect it back" only to sound high and mighty. Try keeping your parents and siblings out for a second and see how the picture will change. So stop with the "my parents gave birth to me and put a roof over my head blah blah blah" cus that is a given. If you don't already know that and appreciate it then you need to be bitch slapped.

I don't think it's a given b/c there are a lot of people out there with strained relationships with their parents. There's a lot of asshole kids out there as well. If it's a given for you and how you think, that's great. But the OP didn't ask to exclude parents in giving their answer of whether they would loan out money.

[mpimping]

Originally Posted by san~man

I've found that "lending" money to family/friends means that you, the giver, do so knowing that it probably won't get paid back. As long as you're fine with that, "lend" away.

True

[BMW F22]

Originally Posted by joonsup

I don't think it's a given b/c there are a lot of people out there with strained relationships with their parents. There's a lot of asshole kids out there as well. If it's a given for you and how you think, that's great. But the OP didn't ask to exclude parents in giving their answer of whether they would loan out money.

Yeah when you put it that way then I guess you're right. I just think there's the norm (that we will lend them money and not expect it back) and then there are exceptions...