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

Cyber · 08-05-2009, 11:51 AM

Serious Money = Half of Life Savings

This is just a poll. If you want to add a story as to why or why not feel free.

ianbiz · 08-05-2009, 12:01 PM

Only my mom dad and bro.

Crimson92 · 08-05-2009, 12:04 PM

hell no, unless its life or death yes

anything else..money leads to problems

Cyber · 08-05-2009, 12:06 PM

Quote:

Originally Posted by Crimson92

hell no, unless its life or death yes

anything else..money leads to problems

I'm in that camp as well.

SORRY IAN for not putting immediate family as an option... !!!

jlstyle · 08-05-2009, 12:12 PM

All my money is already in my parents' and brother's hand while in this recession.
But I would never lend it to other than these three.
Also these people are interest free and are not obligated to pay back in timely manner unless I ask.

Seminole · 08-05-2009, 12:54 PM

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.

Sal@AUTOcouture · 08-05-2009, 01:02 PM

just my parents

Scorpion · 08-05-2009, 01:25 PM

Parents and siblings, cousins if I trust them enough.

BOOSTFTW · 08-05-2009, 02:53 PM

depends on what kind of career that person has and how close i am to that person.

yomama69 · 08-05-2009, 02:54 PM

Are you kidding? Loans are for financial institutions and the last time I checked, my door didn't have an FDIC endorsement on it.

MCMLXXXIX · 08-05-2009, 03:01 PM

Quote:

Originally Posted by Scorpion

Parents and siblings, cousins if I trust them enough.

+1

radiantm3 · 08-05-2009, 03:04 PM

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

BMdblU · 08-05-2009, 05:55 PM

Quote:

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

aut0sh0cker · 08-05-2009, 06:52 PM

Quote:

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

+10000000000000000000

The same goes for your close friends. I always give money to close friends and if I get something back, great. If not, no biggie.

LIFE LESSON:

Nothing destroys friendships (or relationships) faster than money.

radiantm3 · 08-05-2009, 06:56 PM

Quote:

Originally Posted by aut0sh0cker

+10000000000000000000

The same goes for your close friends. I always give money to close friends and if I get something back, great. If not, no biggie.

LIFE LESSON:

Nothing destroys friendships (or relationships) faster than money.

So true.

ejazbmw · 08-05-2009, 07:56 PM

I think it depends on how close you are with the person, i gave all my money to my parent when i was 15 it wasn't much but till this day now that I'm 20 I haven't asked about it once. Bottom line family is family

BMW F22 · 08-05-2009, 08:05 PM

It usually depends on the situation but if I can help out I would. But I generally prefer not to as it could create problems. I mean some people have the decency to pay back the money they borrowed while some (not saying anyone in my family) would just forget all about it.

I think some people think that just because they're family means that everyone is like them. I mean just cus you're kind enough to loan them money doesn't mean they will return the favor. Even though they are all apples from the same tree, some might just be rotten.

Quote:

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

Really? I mean besides your parents and siblings, you would give $20,000+ to your cousin(s) and not expect anything back?

1cleanm6 · 08-05-2009, 08:21 PM

Quote:

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

radix · 08-05-2009, 08:38 PM

Quote:

Originally Posted by BMW E90

Really? I mean besides your parents and siblings, you would give $20,000+ to your cousin(s) and not expect anything back?

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

BMW F22 · 08-05-2009, 08:51 PM

Quote:

Originally Posted by radix

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

Not sure. I looked it up and it pretty much includes everyone.

PS- nevermind. You're right. I misread it. It pretty much includes everyone except for aunts, uncles and cousins. Either way it's still pretty crazy. I mean if you would loan a big amount of money (10k, 20k, etc.) to your brother or sister in law and not expect anything back then perhaps you should add me to your family.

http://www.businessdictionary.com/de...te-family.html

jhv · 08-05-2009, 09:19 PM

Quote:

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

this

yomama69 · 08-05-2009, 09:27 PM

Quote:

Originally Posted by radix

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

I think first cousins are immediate and everyone else is extended.

View Poll Results: Would You Lend Family Members Serious Money?
Yes they are family and that's good enough for me.	30	25.64%
Yes but only to my mother and father.	24	20.51%
Yes but I expect it back with interest.	5	4.27%
Maybe. It depends on the person.	35	29.91%
No. I've been screwed in the past.	3	2.56%
No. Family and money dont mix.	20	17.09%
Voters: 117. You may not vote on this poll

08-05-2009, 11:51 AM	#1
Cyber Second Lieutenant 88 Rep 285 Posts Drives: 08 Join Date: Sep 2008 Location: Tri State Area EAST iTrader: (0)	Do You Trust Your Family Members Enough to Loan Them Serious Money? Serious Money = Half of Life Savings This is just a poll. If you want to add a story as to why or why not feel free.
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08-05-2009, 12:01 PM	#2
ianbiz Back in a BMW 205 Rep 5,208 Posts Drives: 2015 335i Msport Join Date: Jul 2007 Location: Dallas, TX iTrader: (8)	Only my mom dad and bro. __________________ Ian
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08-05-2009, 12:12 PM	#5
jlstyle Lieutenant Colonel 355 Rep 1,762 Posts Drives: Porsche Panamera Join Date: Jun 2008 Location: USA iTrader: (0) Garage List 2014 Audi S7 [0.00] 2015 BMW X5 [0.00]	All my money is already in my parents' and brother's hand while in this recession. But I would never lend it to other than these three. Also these people are interest free and are not obligated to pay back in timely manner unless I ask.
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08-05-2009, 12:54 PM	#6
Seminole Colonel 448 Rep 2,032 Posts Drives: Red Flyer Join Date: Aug 2008 Location: 38.8977° N, 77.0366° W iTrader: (2) Garage List 2008 E90 328i [7.00]	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. __________________
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08-05-2009, 01:02 PM	#7
Sal@AUTOcouture 733 Rep 10,105 Posts Drives: E93 M3, E36 M3 Join Date: Feb 2007 Location: Sofla iTrader: (30)	just my parents
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08-05-2009, 01:25 PM	#8
Scorpion Major 162 Rep 1,210 Posts Drives: Nothing Join Date: Aug 2008 Location: Nowhere iTrader: (0)	Parents and siblings, cousins if I trust them enough.
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08-05-2009, 02:53 PM	#9
BOOSTFTW Enlisted Member 67 Rep 44 Posts Drives: E90 335i e36 m3 Join Date: Mar 2008 Location: SD/Bay Area iTrader: (0)	depends on what kind of career that person has and how close i am to that person.
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08-05-2009, 02:54 PM	#10
yomama69 Banned 60 Rep 688 Posts Drives: 2007 E90 335i Join Date: Jan 2009 Location: Austin, Texas iTrader: (0)	Are you kidding? Loans are for financial institutions and the last time I checked, my door didn't have an FDIC endorsement on it.
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08-05-2009, 03:04 PM	#12
radiantm3 Apex Everything! 976 Rep 4,378 Posts Drives: 2007 Honda S2000, 2017 GT350 Join Date: Sep 2008 Location: Cedar Park, TX iTrader: (6) Garage List 2011 E92 M3 [9.35] 2014 BMW i3 [10.00]	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 __________________ 2011 E92 M3(Sold). 2007 Honda S2000 (Track Car). 2016 Cayman GT4 (Sold). 2017 Shelby GT350 (AKA Crowd Killer). My pet project: https://stickershift.com
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08-05-2009, 07:56 PM	#16
ejazbmw blahhh 302 Rep 6,355 Posts Drives: 2014 M235I Join Date: Apr 2007 Location: NJ/NY iTrader: (7)	I think it depends on how close you are with the person, i gave all my money to my parent when i was 15 it wasn't much but till this day now that I'm 20 I haven't asked about it once. Bottom line family is family
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