Giving money to family members

bambilegs

What is your attitude to giving money to family members?

eskbanker

I prefer to give them

Sea_Shell

Exactly the same as theirs is to me.

enthusiasticsaver

Depends on which family members and why.

Helping daughters out with uni costs, house deposits, childcare fees for grandchildren, help with holiday costs or towards a car - yes and have done so.


Not any random family member. Never been approached by anyone though so any money we have gifted has been of our initiation.

JuicyJesus

It's a great idea when people give money to me, but I'm dead set against giving money to anyone else.

System

I would give them money as a gift if I wanted to, but if they were actually asking for money, it would be a loan!

I have done it twice (different people - one friend, and one family member) and rustled up a quick agreement on payment terms just in case they didn't pay back, and they have been quite happy with me taking the cautious approach (because they know what I'm like).

As for my son, I never seem to stop giving him money (he's 13 and gets pocket money but is desperately trying to earn money from another source - currently cuts neighbour's grass and is looking for other opportunities!).

Flobberchops

My attitude is that they can hop it, which is perhaps unfair as I have solicited money from my siblings in the recent past (for investment purposes, with them getting a cut of the proceeds and repayable in full on demand, just to be clear).



I would be very leery about "lending" money to a friend or family member in financial difficulty, as in accordance with Payday Loans philosophy, the more desperate a person is for money, the less likely they'll be to actually return it. In a genuine emergency I would give what I'm able to but mentally log it as a gift, with any repayment being a pleasant surprise.

robatwork

What's YOUR attitude to doing X to Y though?

boo_star

Giving money is fine, lending it is fraught with problems.

walesrob

eskbanker wrote: »

I prefer to give them

Have you tried paying cans of spam into a bank account. Imagine what the cashier would say at the bank.

Mrs_Ryan

Considering that between my two siblings I’m currently owed £700 and my fianc! owes me £1200 (although I’m going to have to lend him another £300 soon putting it back up to £1500) there’s your answer !!!