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Ever got into financial trouble because you loaned your money tp someone? email this discussion to a friend?

myLot reputation of 98/100. cyberfluf (1724)4 months ago

Have you ever faced financial trouble because you loaned people money so they could get through the month, and eventually because you are missing this money you are in a very narrow position yourselve or have a hard time making it through the month?
I have experienced this before and it makes me think it shouldn't be loaning money again, on the other hand you feel like you can't leave your friends and family high and dry. It can make a person feel very depressed knowing you are either dissapointing your family/friends and getting them in a hard position, but you want to keep your own head above water too.

What would you do?

 
 
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avidwhit (344) response was accepted on 7/27/2008.
denotes best response.
tags:  loan, money, lending money, loaning, family
 
1. myLot reputation of 97/100. tarheelnancy (1316)   4 months ago

I've never experienced financial trouble from loaning someone a bit of money. I also do not loan so much that it puts me in a bind.
I understand you wanting to help your family and believe me they will understand when you aren't able to loan them money because you don't have the extra to spare.
Don't feel bad just help when you can.


myLot reputation of 98/100. cyberfluf (1724)  4 months ago

Thank you for your kind and very descriptive response. I guess you are right but emotionally I feel very bad not helping someone out if I know they really need it but getting yourself into trouble isn't a good thing either. Thanks for adding to the dicussion.

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2. myLot reputation of 93/100. avidwhit (344)   4 months ago

This has happened to me many times. Enough times to where I am no longer concerned about certain peoples problems because of their bad economic descessions. There is a saying neither a barrower or a lender be. I personally feel its better to put yor self in a position using your cash where you have a place to grow and produce food not to mention live. After this yu can always give friends and family food a
nd shelter if they need it. This is a tough thing and a good post but nice guys finish last. You sound very thoughtful.:)


myLot reputation of 98/100. cyberfluf (1724)  4 months ago

Thank you so much for your descriptive and kind response. It's true, when you are caring for other people you might (and most likely) will come in second yourself. This is not a problem as long as you can manage yourself but when it becomes a problem it's good to get things sorted out:)


myLot reputation of 93/100. avidwhit (344)  4 months ago

Better to come in second than not come in at all. Even better when you cared for someone else along the way.:)

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3. myLot reputation of 70/100. hiccup (4712)   4 months ago

I try not to lend money at anytime,

Over time Ive found you loose friends (who still owe you money) and the worst to lend to is Family as they will always say "but you know you will get it back"

Don't ask when, they then say "I wished I had never asked you for it"

It all sounds like they were doing you a favor by getting the money off you in the first place.

Good place for your money... IN YOUR POCKET (wallet).

HICCUP/


myLot reputation of 98/100. cyberfluf (1724)  4 months ago

I guess that's the best way to go but it can be pretty hard to say no.
I'm still pretty young and I think you have more life-experience and it might be easier to say no by then. I need to grow some backbone even though it still feels unnatural and rude to say no to the people you love.


myLot reputation of 70/100. hiccup (4712)  4 months ago

Im sorry I have very little to spare and what I have is committed, Id like to help but it's beyond what I can do, even for a day, I just dont have it to give, and there is no way I can ajust that, sorry.

HICCUP/

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4. KittenKitten (67)   4 months ago

I save money as i can,but i will spend them only once shopping~


myLot reputation of 98/100. cyberfluf (1724)  4 months ago

So basicly what your saying is that you will never lend out money but only use it for shopping? And would this be groceries, clothing or just extra stuff for yourself? It's a big difference if you don't want to lend money because you need to get yourself food or because you want to get yourself prada;)
It's still your call and nothing wrong with it, but just curious what you mean with shopping.

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