Lending money to relatives

I ask my sister sometimes if I could borrow money. She doesn't mind and she's always there for me. Before I started asking her she told me if I ever needed anything, to tell her and she would give it. No questions asked. I don't think I would ask her for a large sum of money. More like something under $100. However she wouldn't lend money to someone she knows who will gamble it away. Like our brother. Tsk tsk tak. And he has gotten mad and not speak to her for a long time. I don't know if they're still not talking... Back to my sister; I have offered to pay her back but she won't accept it. She said what kind of a sister would I be if I didn't help u out?!

To be honest,I don't want to lend money to relatives.Still they ask me for financial help and I help them.After all they are my relatives and I have extremely bitter experiences with my relatives regarding financial matters.Once my elder step brother borrowed thirty thousand rupees from me.It was in 2005.He never payed back the money.Now he is no more.So I have lost my money for ever.

I think it's depends on ourselves whether we willing or not and how we going to face it if they don't return back our money. I use to give money to my brothers or sisters, uncle, aunty and friends. I put perception in my heart that I will not get back my money I gave them. When I'm thinking this way, I will not worry about getting back my money. Off course at that time I have lots of extra money. But, usually they will give me back every time we met. I did gave my friends few thousand in my currency, it's about 2 years ago and till now they didn't return back even a single cent to me. But I have no problem about that because at the time I gave them the money, I already told my self that I will never expect to get back that money cause I knew they are poorer than me. Then I consider that money as donation.

HI Prakash. I am also the same in sort. I never ask anyone for money and basic truth is i am little shy in this issue and luckily have not faced a situation where i need to ask for. Again, i am little bit hesitate to lend money. I have not ever lent money to relatives but yes to friends. And you know, if i get back my money, then it will a great help to buy a new four wheeler. Again, same shy to ask my unpaid money. Have a nice time.

There are times that I borrowed money from my relatives like cousins that are working now then I probably gave back when the pay day comes. There are some relatives whom I lend money too when they ask me if I do have some extras then eventually they bring it back. But my parents used to experienced that before wherein their relatives dont bring back the money they have borrowed uet dont even give any effort to pay.

Hi, You are right. We should be very careful while lending money to our relatives or anyone. I have such experience of lending money to cousin ten years ago and he is still not willing to pay it back. I can't ask him for the payment. If I ask him then relation will be spoiled. But after this experience I always try to avoid lending big amount of money. Because it becomes headache for us. It is said that by lending money either we lose money or gain enemy.

I have to borrow money from my aunt to make it through the month, I always pay her the money back. It is huge sums of money but it is what I need to get through the month. I don't think it is good to say never lend money, only let it to the people you know you can get it back from.

hi vidhyaprakash yes money between relatives can be really a big problem. My son and I do lend each other money but we pay it b ack to each other. My friend insists on helping me now when i am shy just a few dollars to pay something but I do not want her to as often now I cannot repay her.but she insists she does not want it back and I know she is not wealthy either.her son who lives with her lost his job and has not got another one yet although he looks all the time and sends resumes too..

hi VP, We help in a way we could but if myself thinks that person is abusing my parents I am telling them frankly that I am not happy of what they are doing but my parents are very helpful ones they easily lend money to our relatives and friends sometimes I am not happy with it. happy mylotting

Yeah got an experience like this, a cousin borrowed money and it's 5 years since then , until now she didn't pay for it and pretending not to remember at all. Same as when an aunt of mine borrowed a big amount my mom, after few years my mom asked if she could have the money back coz we need it a lot to pay for our tuition fee.. My mom even bargained (take note: the lender made the bargain LOL!) my mom yes indeed made the bargained to have even just 30% of the entire amount coz it's badly needed, only to find out, my aunt deposited only 25%..and until now, my mom did not bother to ask for payment anymore.. I don't know why its always like this. Some people say it's better to lend money to "not so close" friends than relatives Because if you lend to your family, tendency is they won't pay because they feel that they are your "obligation" too, which is of course impossible! We have a family too, same as they have their own family to spend for. It's not that we are greedy, but I know every single coin our family has, we worked hard for it and it's sad to know relatives pretended to borrow but actually want the money as an "early gift"... Well gift are supposed to be voluntarily & heartily.. So until now, my mom don't trust them anymore. It's like she felt being cheater by so-called relatives.. Mom even said, if they don't wanna pay, okay then. But they can't do it again. :/