Do you give loans to your family when they are in need? I have mixed feelings about this. I would feel bad if I didn't give them loans, but if I did, they would likely mess it up.
It would depend on the person and the circumstances. It would also depend on my circumstances at the time. I've always worked very hard for what I earn, so I have to feel that the other person respects that if and when I give them a loan.
Yes, it depends on the person and the situation. However, I would normally try to avoid giving loans to or taking loans from family. I would rather encourage them to deal with financial institutions for that.
It depends but I'd be very wary of loaning money to family. There is just way too much potential for a strained relationship should they be slow or fail to pay me back.
My family knows we don't have any money so I never get put in this position. If we could afford it I would happily lend it though. They have certainly helped us out when we needed it.
It definitely depends on the person and the circumstances. Most of the time, I recommend against lending to family or friends as it has a tendency to damage relationships.
It depends on the person. I have a personal policy that if I "lend" money to someone, I do so without an expectation of being paid back. For the right person, I would give them money if they needed it and if they paid me back, great. If not, no harm done. That said, there are certain people I wouldn't give money to because I know they would be wasteful with it.
As others have said it would depend entirely on the circumstances, what they needed the money for, could they actually pay me back. I did lend a good friend of mine a couple hundred a few years back and I still haven't seen a penny of it back, always excuses on why he couldn't pay me back before eventually I gave up and I haven't really spoken to him since. That experience would definately make me question whether I would ever lend money to a relative because if there's one rule to really live by is to never do business with family and friends.
If I had the money to spare, I would definitely lend the money to my family member especially my children. I cannot bear the thought that they're in trouble and I can't do anything about it. If I don't have the money, I will try to get it for them from others who I know can spare the money. I will try and help them. They're my flesh and blood and I don't want them to suffer.
If a family member is in need, it's better to just give them the money. That way, if they can't pay it back or are delayed, etc, then there aren't major family ties being strained or burned with bitterness. And if that person wants to return the money later on or return the favor, then so be it.
Loans to family
If we could afford it I would happily lend it though. They have certainly helped us out when we needed it.
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