When Family Asks Me For Money!

More money, more problems? YES. Business and family should be kept separate. This is how I deal with family members asking for money. I don't loan, I gift. But they can never ask me for money again.

[cleanerdetailsllc]

Kevin it's me your cousin Daniel. I need a $150k to start a restaurant.

[theprofessional]

The most annoying thing is when people act like your a bad person for asking for your money back 😢

[HexaBoxabl]

Every family has that one person who will break the family financial struggle, I hope you become the one

[MattDapson]

This is the best plan. My brother borrowed from me and never paid me back. I really didn’t care, but it impacted his behavior toward me. Why him failing to honor his debts led to him resenting me is something for the mental health professionals to sort out.

[gingerspeidel-yset]

The minute you loan someone money, it changes the relationship for the worse.

[ligyron]

I was taught as a young boy “partners are only made for dancing”. It’s kept my life drama free.

[nhtmhhj]

I have said it for years. Never loan money to friends or family. If you can afford it give them money but NEVER loan them money

[andariegos]

Years ago my husband’s cousin (they grew up like siblings) asked him to borrow money when he invited her to meet our first born. He gave it to her and told her no need to pay it back. (I heard it myself) I guess she intended to but couldn’t and started avoiding him like the plague. He tried contacting her many times, left messages if it was about the money he didn’t care and he went unanswered. The last message was to meet our second child. She never responded or met her. About 20 plus years later we found out she had been telling family that he was harassing her for the money. I think she assumed they all knew and wanted to make him look like the bad guy. But he never told any of them. She tried reaching out a few years ago and he wants absolutely nothing to do with her. Out of everything that she did what hurt him the most was that she was never a part of our kids’ lives over money he never expected to get back.

[javier]

This is such good advice. I took it and protected a friendship because of it. I'm sure the relationship would be strained without this advice.

[spencerhan]

My family is different, I loaned a very TRUSTWORTHY family member who I know is a very hard worker(otherwise I wouldn't have) a quarter of a mill. When he paid me back, he tried to give me 25k for interest. I said no, as long as he paid back the original total. Now he owns a successful welding business with 10 employees. He can take care of restaurant and bar tabs for me for the rest of my life now😂

[okiepitat-town]

Yeah I lost my best friend of 40 years over a measly $5000. If he had even attempted to pay me back a small amount I would have said that’s okay I cancel the debt, but, instead, he never even attempted to pay me back a dime and then had the temerity to ask for more. Needless to say, friends like that I don’t need.

[snowprince]

Exactly what my old man told me.
If your family or relative or friends ask to borrow, just give once.

[DalibanCohort]

“Here’s my Longhorn Steakhouse gift card. I don’t want *anything* in return. It’s a gift. Let’s never talk about it again. Then I go back to polishing my yard gnomes.”
- my tax bracket 😂

[nakayoshi]

Kid: can I have $10 to open up a lemonade stall uncle Kevin?
Kevin: I will give you the $10, but I want 10% of the company and 2 cents per cup until I get my $30 back and then the royalty goes down to 1 cent per cup in perpetuity.
Kid: nevermind.

[calpilot]

I once loaned a friend $2, 000 and he never paid me back or even returned my calls or texts. Now anytime someone asks to borrow money I say “Dude I loaned a friend $2k and I’m still waiting for him to pay me back.” It shuts down the conversation real quick!

[alexander]

And then be prepared to give $50k to every member of your family. Word will spread fast

[dougg]

This works regardless if its $50, 000 or $50 .
May be the best $ spent to never hear from that relative ever again

[barb]

I'm am not financially wealthy, but at times have helped when needed. Each time I have made it clear... this is not a loan ! This is a gift and doesn't need to be mentioned ever again. No relationship has been damaged along the way. I do not lend anything... I gift it. Been that way my entire life and I don't ever see that changing. God Bless

[marycubelo-hinton]

I used to do that. Been conned out of hundreds of thousands of dollars from family. Now I say “NO”. So I am the bad one.

[marylynch]

Thanks Kevin
When my Son was a lot younger
Only had just started out working
They were times where he would ask me to loan him money a small amount
I always made sure he payed me back
What i used to do 😂
I would note up in the kitchen saying that he owed. Me x amount
Because to me it was very important to teach him

He is now grown up and a wonderful respectful Son