Colleagues with poor money management skills

Mr.Mulla

Has anyone here experienced coworkers coming to them 2 or 3 days before pay day asking -"can I borrow £20 until payday?" And I'm stunned because some of these people are 45 and older and are having trouble managing their money. But what's even worst is when payday comes, the person who borrowed the money does not say a word about the money they borrowed from you. They act as if they never borrowed any money from you at all which is why my lending out days are over at the workplace.

mufc689908

Charge 34.9% apr

When MBNA do it half of the muppets on here think its perfectly acceptable as it

"Is a variable rate and you knew what you were signing up for"

Mini_Bear

I would never lend ££ to a work colleague unless it was extenuating circumstances ie their bank acct was frozen or they had had a massive bill. Someone asking a wrk colleague for ££ sounds alarm bells in my head - they have clearly exhausted family memebers and close friends!!
OP have you ever asked the colleague for the money back, or gone to them 3 days from payday and said you need it to tide you over?!

jamespir

send the bailiffs round

vaporate

Not always poor money management though. There are honest hard working budget sensible people out there. Yet, still fall short of a few quid each month because everything in this country costs a bomb.

immoral_angeluk

Lesson is not to lend money to anyone unless you'd be happy to never get it back.

Rupert_Bear

Mr.Mulla wrote: »

Has anyone here experienced coworkers coming to them 2 or 3 days before pay day asking -"can I borrow £20 until payday?" And I'm stunned because some of these people are 45 and older and are having trouble managing their money. But what's even worst is when payday comes, the person who borrowed the money does not say a word about the money they borrowed from you. They act as if they never borrowed any money from you at all which is why my lending out days are over at the workplace.

Ive got around this. A colleague at work wanted to borrow 50p for coffee.
She agreed to give it back to me the next day. Failed to do so and I never got my money back.

Now if anyone asks I say I only bring enough to work to cover my drinks and lunch. They never ask now.

ILW

vaporate wrote: »

Not always poor money management though. There are honest hard working budget sensible people out there. Yet, still fall short of a few quid each month because everything in this country costs a bomb.

Everything in this country does not cost a bomb, and if you think it is all so bad, why the hell do you stay here?

CannyJock

Point them towards a pay-day loan company - they're popping up all over the place:

http://www.moneysupermarket.com/payday-loans/

Borrow £100, pay back £125 within 30 days - is only 1286.1% APR

lisyloo

vaporate wrote: »

Not always poor money management though. There are honest hard working budget sensible people out there. Yet, still fall short of a few quid each month because everything in this country costs a bomb.

Perhaps they should stop buying then?
i.e. if they can't afford a coffee they should drink free water?

Have you heard of living WITHIN your means.
Even well paid people have to do it.
It's easier if you are paid more, but there's still better cars, better hotels, better clothes etc. to spend it on, so it has to be managed by everyone regardless of income level.

immoral_angeluk

Hate to say it but by being bailed out with odd 'lend us a tenner' successes they're only going to be more likely to keep asking if they know they'll get it..