borrowed money or helping money?

@bulastika (5967)
Philippines
September 3, 2012 6:07am CST
My sister right now is down with lots of debt and right now she is borrowing money form me to pay off her debts. I also want to help so I give her money. Problem is that I also don't have a job and I only earn what ever how ever I can online. And sometimes I also have debts to pay and right now I'm paying only the interest that my debt incur and can't even pay some percentage of the principal. But even if that is my case I can't say no to my sister since I know she is in worse condition than me. But same time if I keep giving her money I end up to be like her.
1 person likes this
9 responses
@samson1 (738)
• Jamaica
3 Sep 12
Given the type of relationship that you have with your sibling, you are both accommodating her wishes and providing her with the means of helping her out of 'her distress' at the same time. More power to you. Of course, you know the 'strength' of your financial resources, and I hope that you will be prudent in your decisions. In addition, expressions of kindness will always be a rewarding activity. Hence, I have no doubt that your sister will seek to show her appreciation, as well as to repay you in the near future. All the best Bulastika.
@bulastika (5967)
• Philippines
5 Sep 12
Theirs no question about paying back and appreciation its about survival right now. I'm sure if she has money she going to pay me back. But how can she going to have money? that's the big question. I don't think theirs an answer to that question yet. If I win in lottery or if she win in lottery then I guess theirs something going to chance for sure.
@samson1 (738)
• Jamaica
5 Sep 12
True words Bulastika. Well, at this time and perpaps for the unforseen future, you may have to 'settle with' hearing thanks for you your help from your sister.., until her fortune improves.
@missjahn (4578)
• Philippines
3 Sep 12
let us stick to the title question above of your discussion. borrowing another amount of money to pay for the first debt. is it helpful or not? for me, it depends on the situation. if money she borrowed for the payment of the first debt have big interest, not it would not help her. but if it without too big interest, somehow she would be saved from defacement and that she can pay it in due time i suppose. at least, a good option for her to have at the moment rather being sued or jailed because unable to pay her obligation. now, for the second debt, she will can find a way to pay for sure not to experience oddness in life. thanks for allowing us to share our thoughts :)
@bulastika (5967)
• Philippines
5 Sep 12
Problem is that if you don't pay you going to pay interest plus penalty. So at least if you borrow money again you only pay interest and not penalty and by the time you have money then at least you pay off some of your debt. Although in my computation its going to last more than three years before I can manage to pay off all of my debt.
@missjahn (4578)
• Philippines
7 Sep 12
gosh, well i can say that it is making another problem or caused the problem to deepened more and make it more worst. but as long as you can manage paying it or the resource of your income would be alright, well, i can tell that this loan will help to solve the problem for the meantime. hope you can manage it... :)
• Philippines
5 Sep 12
Oh, I wish your sister can free herself from those debts. If we have debts we don't have any peace of mind. I hope you and her can find better jobs so that you can help each other in times like this. It's hard to approach other people when it comes to money matters. If we could lend them, why not? I hope she will not borrow money from you all the time. She also needs to consider your situation. I hope both of you will be in better situation soon. Happy mylotting.
@bulastika (5967)
• Philippines
5 Sep 12
She don't borrow money from me if she has ways and means. But I'm her last resort and if I can't give her money we all end up having no food in the table also and no place to live also as we are living in the same roof. Sad to say I live in her house because I don't have work and means to support myself. But problem is that she is in the worse situation and the worse part is that she is the one who is trying to shoulder every bills in our house also.
• United States
3 Sep 12
your like me and that is good and bad to be honest. I helped someone the other day with food and I am getting tired of it. She messed up some how and now bills are being taken out of her check and she can't buy food. But,when I need anything i don't go to her for it. don't put yourself in trouble to help your sister. she will have to understand you have your own bills.
@bulastika (5967)
• Philippines
5 Sep 12
I think you are right. But sometimes its hard to do something like that if you know that she only ask for help to you as the last return. So in short if I say no I know she has no one to turn and ask for money. That's why its very important that as long I can help I will. Beside I'm sinking but its only neck deep.
• Philippines
3 Sep 12
Hi bulastika, give what you can give not to the extent of what you also need, if you have extra then you can give her if not then explain to her nicely that you have an obligations to settle first. But if it's emergency of course please give anyway she is your sister someday the tire will rotate and she will be one to help you if that time comes. It's nice to give than to receive anyway. It's hard to beg remember. :)
@bulastika (5967)
• Philippines
5 Sep 12
If only that easy. Sometimes if you are the last hope you can't say no really. That's the problem. Because I know she will not going to ask for money if she has means or way to find money. I'm hoping that things will going to come good for us next year. I'm hoping that problem will be and can be solve in due time.
@magtibaygom (4865)
• Philippines
3 Sep 12
I think what the two of you can do to alleviate your situation is, both of you should increase your means. Yes, living below your means can help, but, increasing your means or increasing your income, both of you, is far greater.
@bulastika (5967)
• Philippines
5 Sep 12
Its easy to say than done. We already lower our means in the lowest point possible. But without source of income for many years now I don't think theirs no more lower means that living in the street. That's that lowest point our life can go.
@cynthiann (18619)
• Jamaica
3 Sep 12
You can only do so much to help your sister and no more. If you give everything then you will both have nothing. Is there no way that you both can sit down together and come up with some kind of financial plan or rather, an action plan of how to get out of debt? Is there no one or organisation that you can approach for a ealistic plan to help you both get out of debt? Selling soemthing with a small mark up price may be an option. If the mark up is small then you have a better chance of selling a larger quantity. Very best of luck to you both.
@bulastika (5967)
• Philippines
5 Sep 12
None that I can think of. That's what we are doing right now we try to sell stuff and land that our forefathers work so hard. Even we are trying to sell our ancestral house. Its so pity that our forefathers works so hard to give us a better life but in the end we are falling this low.
• Nigeria
3 Sep 12
Good friend, please my dear , u do not displease yourself to please others,people can be very fun when it comes to help, i have someone to make easier, till now he is in money rich in most of goods things in life, now he told his security man not to allow me into his apartment, all what i am telling you is not a joke or kind of make up, it effected my life but life had to move on ,u know. A good advice , give but not to discomfort your self,OK.
@bulastika (5967)
• Philippines
5 Sep 12
I guess he need to double his security if you keep on returning. lols. But in my case its not about other people. Its about family and you can't put wall or security cordon to your own family. Because in the end its your family that you going to run to when you are in trouble.
@dsw313 (321)
• Philippines
3 Sep 12
Well, no one can help and understand your sister's situation but you, if you have lots and lots of money, I think you can give her, but if you don't have, I think she can understand your situation too, at least at this time you will be a big help for her. Tell her that she can give it back to you even little by little, as you said she is really in her worst condition right now. But also try to balance everything. Hope that all goes well.
@bulastika (5967)
• Philippines
5 Sep 12
I don't have lots of money. I have lots of debt also. Its really hard to balance things up but I know in every problem theirs always a solution. No matter how hard no matter how long the wait. I'm hoping that in just matter of two years time I can pay of all of my debt. this is the only problem that I need to solve right now. To survive for two years without incurring more debt.