Sister wants a loan!! What to do?

NekoZombie

pinkkaz wrote: »

come on then - what are the facts!

I'm not saying there are any, just pointing out that she would be defensive rather than take the advice on board. She is miles away from her LBM!

NekoZombie

Yant1 wrote: »

What is it with londoners they all think they are stock brokers,fund managers and lawyers when in all honesty a very minor percentage of them are. Its like some sort of mental illness.

As for how to tell her, if it were me go in all guns blazing then dont talk to her thereafter, shell come around in about 12 years after her second bankrupcy when she sees that people that save have everything and she is left with nothing but a tatty out of fashion bag, roaming the streets, bottle of whisky in a brown paper bag, looking around for a clean needle.

Oi!! I'm a londoner and I think none of the above. No need to tar me with that brush!!

[Deleted User]

Ok but statistically speaking londoners on average have the highest debt to salary ratio. Obviously your not average zombie your special

NekoZombie

flaura wrote: »

Totally agree take the handbag hostage - !! but seriously say no - I used to help my sister out all the time and this contributed to me getting myself in trouble !! she needs to learn she can't blow money on handags until after she's paid the rent bills etc etc ....

She does need to learn, which is why solvent guys suggestion was so good. I think I'll help her out this time, but have a chat with her and explain that its going to be the last time and that she needs to start budgeting. Its going to be a difficult chat, and no doubt she'll feel got at but I'm her big sis so I guess its my responsibility.

NekoZombie

Yant1 wrote: »

Ok but statistically speaking londoners on average have the highest debt to salary ratio. Obviously your not average zombie your special

Hmmm, you don't think that has something to do with astronomical house prices in the city? Or the fact that the cost of living is higher in general? That said, I accept that there is this mentality of presenting a certain champagne lifestyle image amongst some city dwellers.

Yes, I'm a special zombie, but only cause I've been to hell and back debt-wise.

misspoppy

I respect your decision but don't get into difficulties yourself and maybe tell her that you can't afford to give her £200.

I know how you feel being the big sister, I am too and my sister regually has a go at me because she asks my opinion and doesn't like the answer!

smudgemanc26

NekoZombie wrote: »

She does need to learn, which is why solvent guys suggestion was so good. I think I'll help her out this time, but have a chat with her and explain that its going to be the last time and that she needs to start budgeting. Its going to be a difficult chat, and no doubt she'll feel got at but I'm her big sis so I guess its my responsibility.

Why should you help her out this time again if she feels its ok to blow over £500 on a bag then cry poverty then i bet she'll do it again.

Why dont you both take the bag back get a refund pay off the rent and you keep the rest for when she needs helping again next time round.

[Deleted User]

NekoZombie wrote: »

Hmmm, you don't think that has something to do with astronomical house prices in the city? Or the fact that the cost of living is higher in general? That said, I accept that there is this mentality of presenting a certain champagne lifestyle image amongst some city dwellers.

It is what economocists refer to as a credit bubble, londoners ready acceptance to live a life of debt fuels the house prices and goods prices due to demand. High demand due to the I want it now mentality ramps up price inflation. Mark my words - when the bubble bursts some of the biggest negative equities will be in london and a lot of people will get there fingers burnt after reaching for the pie while its still hot. A lot of businesses will also go under when interest rate are at 10% and retail sales drop like a stone as banks forclose credit lines. Play the game dont be the chess pieces.

NekoZombie

Younger siblings never like what their older siblings tell them.

I will tell her I want the money back (on Monday) and explain its a loan - though its going to be the last for a while!

Family responsibilities, eh?

NekoZombie

Yant1 wrote: »

It is what economocists refer to as a credit bubble, londoners ready acceptance to live a life of debt fuels the house prices and goods prices due to demand. High demand due to the I want it now mentality ramps up price inflation. Mark my words - when the bubble bursts some of the biggest negative equities will be in london and a lot of people will get there fingers burnt after reaching for the pie while its still hot. A lot of businesses will also go under when interest rate are at 10% and retail sales drop like a stone as banks forclose credit lines. Play the game dont be the chess pieces.

Apparently in London to live the life of a millionaire, you need to be a billionaire!