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What would you do, paying back family
Comments
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I know that I am maybe against the majority, but I would NOT take the money and spend it on a gift such as a car or holiday.
I would accept the money, pay off all interest bearing debt, and then save up enough money to repay her. I would give her a check; it would be up to her to cash it, or not. If not, I would pay the money forward to the next generation.“The ideas of debtor and creditor as to what constitutes a good time never coincide.”
― P.G. Wodehouse, Love Among the Chickens0 -
thank you all for your great suggestions.
I am going to concentrate on paying off my barclaycard for now and not discuss it with mum unless she brings it up. As you all say I am very lucky to have such a lovely mother and don't sound like I am alone with that which is great to hear.
I am going to save the money and decide later what is best to do with it. It's her 65th in 2009 so maybe I will see then if I think it would be best to use it to treat her or keep it for her future
thanks again:A0 -
Just a thought, perhaps you could do something with the money from reclaiming bank charges. You can say that it's a windfall and that it's only right that she should benefit from the bank's misfortune as well. You could make sure you pay off anything with interest owing first, and then say it's only fair she should have the leftovers in lieu of all the interest she's saved you.
Perhaps after that you could do as others have suggested and put what you would have paid her into an account for your (future) children, so their "inheritance" could benefit them while she's able to enjoy it with them?MFW #66 - £4800 target0 -
As a mum who has "loaned" considerable amounts to offspring in the past I think that if you've offered to repay and it's been turned down then your Mum probably means you to consider it as a gift! However, the suggestion of giving her a cheque when you can afford the lot and letting her decide is probably the best way to go. She may genuinely feel that as long as you have other debts she'd rather you dealt fully with those at present.Resolution:
Think twice before spending anything!0
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