Do you find it shameful?

woody01

Jeff77 wrote: »

Do you find is shameful when you ask or borrow money from your parents or our family? I don't actually. But I've encountered a lot of people who does which I think is wrong. Which made me interested about you guys, what's your say on this?

I would.
If you are an adult, and you have dropped yourself in it, you should be ashamed.

morocha

mmm i never asked for money, but i think i would if i was in a bad situation... in the other hand, i am quite happy to give money to my mom if she needs it... ( she lives in a different country and ££ worth 5 times more)

kathrynrobson1011

I have just had to borrow money off my parents and I do feel really embarrassed.

Having gone from a 35k a year job to a 13k job (redundancy last year and took a lower paid job in order to keep my pride), we barely have enough money to pay the bills and eat.

Our car broke down last Thursday and have had to borrow £150 to fix it. It is embarrassing and I do feel ashamed, but sometimes circumstances are out of the individual's control and assistance has to be asked for.

I know my parents would always help me out, as I used to help people out when I could. I have agreed a repayment plan with then and know I can afford to pay back. Hopefully when the job market picks up again, I can find myself once again in a good position but until then if the unexpected happens then I know I have the support of my family.:j

**Upsy_Daisy**

I would never dream of asking friends or family for money.
Mind you, I am a professional person and like to keep all relationships either professional or personal.
Money - I keep that professional and if I am broke and have to live on beans and toast I would rather than ask people I have a personal relationship with for money.
Mind you, I would never lend friends or family money either - I would advise them how to access money or advice but I would never lend.
I do GIVE and have given several times in the past - quite significant sums in the past but I have allowed those friendships to wither on the vine afterwards.
If a friend calls and asks to borrow money I say no. I tell them I can give them what I can afford, around 5-10% of what they ask for but as far as I am concerned the friendship ends that day
UD

speirsro

I have borrowed money many times from my parents, my wifes parents and people I work with.
I have no shame in asking anyone for help. I would never ask anyone other than cloise friends or family for a significant sum, but daily for example, borrowing a tenner from a colleague and paying them back the next day.
I wouldn't bat an eyelid if someone asked me either.
If I don't have it, they don't get it!

strictwithmoney

Both of our parents live thousands miles away (yes, they are not in UK) and they have struggled through financial hardship to bring us up. Never a million years that we would ask for financial help. We will feel very, very shameful if we do it.

From young, we had learned the meaning of "hard earned money" and we do not live frugally but doing sensible spending. It is this sort of mentality that drive us to accumulate large deposit for our house and ensure that we live within our means.

We are very happy to give moneys to our parents if they need it.

Jeff77

WASHER wrote: »

I wouldn't personally ask my parents or my family to loan me money, and unless the house is at risk or if my sisters couldn't feed their children then I wouldn't loan them money either.

If one feels the need to borrow money, then something is wrong with your budget, you have to cut the cloth to suit your income.


Just my thoughts.

You wouldn't!? Whoa! So many answers. First of all, thank you all for your reply guys.

Moving on, there maybe something about your budget. My point is that everything is not always because of your budget. But because something just suddenly came up. And this is one of the situations I'm talking about. What if all of a sudden, your house got burned and you don't have any money left.

Not that situation but that kind of situation. You see my point right? That's why I thought of asking here. Thank you for your reply, really.

Jeff77

Little_Miss_Uni-Debt wrote: »

I've also learned that the tightest people are the richest people. So maybe I should start being a bit more of a cheapskate :-).

:rotfl:True actually. You're right about this. But it won't really be harmful to help someone even a little sometimes. Not all people are always at the top sooner or later we'll all go down. So who knows right? :beer:

JA1000

I thought I wouldn't borrow money from family, but a situation beyond my control gave me no choice but to at least ask with a proposition. I have no problem with it and am actively looking to borrow as much as I can from family and friends but it's their lack of understanding which is stopping some of them from gaining.

I always pay back any loans with interest or service the loans until repayment at a rate of 10%pa interest, they win because they get an excellent return tax free!!! and I get to pay of cc which are charging 35%. I just wish I could get more of them to lend so I could clear the cc and benefit my family instead of the rip off companies.

I set it up legally with a proper contract.

WASHER

Well, if your house got burned down, you would have buildings and life insurance to cover that.

If, for example, your car broke down, your monthly budget has allowed you to put to one side a fixed sum each month, so you can pay for it.

I know it doesn't always happen like the above, but thats what an overdraft is for, AN EMERGENCY, if you haven't got an emergency fund big enough to pay for the car to be fixed, use the overdraft. Just remember to pay it off the following month. Its not rocket science is it? So why can't most of us do it? because some of us see the overdraft as an extension to our available balance on our current account and like to shop, I've been there and back, discipline is the key.