Family member starting to ask me for money

Good lord, it's $100. Either give it or don't, but it's nothing to get stressed about.

Personally, I couldn't imagine saying no to loaning/giving any friend or family member a measly $100. If it became a regular thing, then I might put my foot down at some point. But, really, it's $100 :confused:
 
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Had a friend ask me for 200K. I said no problem, just sign your house over to me. Pay me back after 12 months with 300K and I'll give your house back. I havnt heard from him for over a month. With small loans of $100 I just say "sorry". What are we , walking ATMs?
 
Good lord, it's $100. Either give it or don't, but it's nothing to get stressed about.

Personally, I couldn't imagine saying no to loaning/giving any friend or family member a measly $100. If it became a regular thing, then I might put my foot down at some point. But, really, it's $100 :confused:

+1 and don't expect it back.
 
Good lord, it's $100. Either give it or don't, but it's nothing to get stressed about.

Personally, I couldn't imagine saying no to loaning/giving any friend or family member a measly $100. If it became a regular thing, then I might put my foot down at some point. But, really, it's $100 :confused:


But that's the thing. $100 this time turns into $200 next time and before you know it rather than asking for $100 every 12 months it has turned into asking for $100 every month etc.
 
There is more to the story. This person has been an enablee for 40 odd years, and the people they usually leach money from are away on holiday so they came tome

Yeh, this is the context I was talking about.

You lending this person money is a moral hazard.

You are doing them more harm than good by lending them the money.

Saying no is hard, but if you just say you're not in a financial position to give away money rather than just saying you dont want to, it might go down a bit better.
 
Good grief, good to know family members can count on you to handle things maturely when they ask for help. Hanging up the phone and then an sms response? ?

Fwiw I agree with fifth, either lend it to them or don't but it really isn't anything to stress about.
 
Or .... give it once. Tell him/her to keep it. Then you can forget it.

If he/she asks again in a month, then you start talking about budgeting, enabling, etc.
 
I would lend them the $100 but tell them you cant do it again.

I lent my sister in law some money last year. At the end of the day she really needed it and I care about her. I didn't expect it back, but I didn't tell her that.

She saved it up to give it back to me and then she ended up with a nice surprise just before xmas when I told her to keep it. It was my way of getting her to save.
 
I asked my friend for $20k a few weeks ago for a settlement because I was refinancing and it didnt come throguh,

I told them I would have it back to them in a week which I did and paid them the interest on it

I guess it depends on the type of person you are and your friends

no one size fits all
 
I had problems with lending money to family and friends years ago. I did get the money back each time, but only after many excuses and having to push hard to get it.

For these reasons, I don't lend money to anyone anymore.
 
Had a friend ask me for 200K. I said no problem, just sign your house over to me. Pay me back after 12 months with 300K and I'll give your house back. I havnt heard from him for over a month. With small loans of $100 I just say "sorry". What are we , walking ATMs?

You would charge a "friend" 50% p.a. interest rate??? Either do it or don't, why try and rip them off?
 
Jack, that's the deal. I wouldn't charge any rent whilst he lived in house (probably 30K worth of rent) plus legals, stamp duty etc.

Banks won't touch him - doesn't work.
 
I was once asked for $5K by a guy I had only known for a couple of months. I was only 21, had no idea about money. It sounded rather odd to me, and I told him I will discuss with my parents, as it was a decent sum (I was only a university graduate). When he heard this, he said don't worry re what I asked you - just so that I do not tell my parents (as this would have looked bad on his family - my parents knew his parents).

He was 23 at the time. He wanted the $$ so he could save interest on his margin call account. Why would one not ask their own immediate family!!!

He subsequently lost $70K on the share market when the GFC hit...so it would have been the last I would have seen my hard earned savings.
 
Jack, that's the deal. I wouldn't charge any rent whilst he lived in house (probably 30K worth of rent) plus legals, stamp duty etc.

Banks won't touch him - doesn't work.

Sounds like a no-win situation, either way you'll probably lose a friend, you may have already.
 
No Jack I've known him since he was knee high. Once we didnt speak for years. He's had a rich partner, living the high life on her $ and now things are turning pear shaped. He's looking for an easy way out with me but it won't work - not easy anyway. He's only option is to sell.
 
APK, someone asking you for $100 is causing you a lot of stress. And you have nowhere to vent but on this forum. In the past, you've stated that changing jobs, selling IPs, moving house, and other everyday things cause you a lot of stress.

Have a really, REALLY good think about whether you can handle property development. How will you handle it if, say, council approval is delayed, the building overruns by a couple of k, or it rains for a period of time?
 
Having people , be it family, ask for money can be very annoying.

Property development may have a therapeutic effect. You know, setting a goal and achieving it. People bludging is just a pain in the butt.
 
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