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BabyAvocado
Happy New Year
Member since 5/05 17334 total posts
Name:
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Would you ever borrow money
-- from your parents? (Let's say alot of money - like for a wedding or down payment on a house)
-- from a sibling?
-- from a friend?
Does the amount you would borrow make a difference as to who you would borrow it from? Like say you would borrow a couple of thousand from a sibling but never from your parents or a friend?
Or do you believe that it's almost never a good idea to borrow money from friends or family? (i.e. family & money don't mix well)
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Posted 8/15/05 3:00 PM  |
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Long Island Weddings
Long Island's Largest Bridal Resource |
Bri
I Love You to Pieces!
Member since 5/05 9919 total posts
Name:
Brianne
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Re: Would you ever borrow money
I would only borrow money from my parents if I HAD to. Nobody else.
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| Posted 8/15/05 3:07 PM |
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saraH
happy birthday sweet kate!
Member since 5/05 16555 total posts
Name:
I know that God exsists, I held her in my arms...
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Re: Would you ever borrow money
Posted by THEINFAMOUSMRS.OTG
I would only borrow money from my parents if I HAD to. Nobody else.
ditto.
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| Posted 8/15/05 3:07 PM |
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Palebride
I am an amazing bakist
Member since 5/05 13673 total posts
Name:
Lori
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Re: Would you ever borrow money
I have borrowed money from my parents in the past - and we have a payment plan set up, with interest, so that it will never be an issue.
I can't imagine borrowing from a sibling though....that might make me uncomfortable
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| Posted 8/15/05 3:08 PM |
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Redhead
You Live, You Learn
Member since 5/05 31871 total posts
Name:
Jennifer
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Re: Would you ever borrow money
parents only
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| Posted 8/15/05 3:09 PM |
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Janice
Sweet Jessie Quinn
Member since 5/05 27567 total posts
Name:
Janice
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Re: Would you ever borrow money
I would rather take a loan out then ask family or friends. Too sticky of a situation, I have never needed to borrow, but I have been on the other end MANY times where IL's have called us for money. 
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| Posted 8/15/05 3:09 PM |
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jozieb0925
Double Trouble!
Member since 5/05 4358 total posts
Name:
Josie
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Re: Would you ever borrow money
I generally wouldn't feel comfortable, but
I guess if I really needed the $$, I would borrow it...instead of taking out a loan and paying interest, etc. I would ask family before freinds.
I would also pay them back as if it were a loan. I would give them a certain amount a month until it's all paid off.
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| Posted 8/15/05 3:11 PM |
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DonnaJoe708
Hello
Member since 5/05 4002 total posts
Name:
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Re: Would you ever borrow money
Posted by Janice
I would rather take a loan out then ask family or friends. Too sticky of a situation, I have never needed to borrow, but I have been on the other end MANY times where IL's have called us for money.
I agree. I've seen money issues come between people too many times.
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| Posted 8/15/05 3:12 PM |
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MrsJ
I love my Katie Bug
Member since 5/05 11357 total posts
Name:
Kathy
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Re: Would you ever borrow money
I would if it was really needed but only if I would be able to pay it back within a short period of time.
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| Posted 8/15/05 3:12 PM |
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dpli
Daylight savings :)
Member since 5/05 13973 total posts
Name:
D
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Re: Would you ever borrow money
I would have from my parents if they were still living. I would consider borrowing from one of my siblings if I needed to, but would probably sign a contract and set up a payment plan to be sure that it wouldn't hurt our relationship.
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| Posted 8/15/05 3:13 PM |
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AJsMommy122
Stop 2 smell the roses
Member since 5/05 2048 total posts
Name:
Maxine
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Re: Would you ever borrow money
Only from parents if we really had to.
Message edited 8/15/2005 3:14:18 PM.
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| Posted 8/15/05 3:13 PM |
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Salason
♥
Member since 6/05 9878 total posts
Name:
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Re: Would you ever borrow money
-- from your parents? NO. I think it would make either me or DH uncomfortable depending on who's parents we borrowed from which could put strain on our marriage; however, we're in a good position right now so it's easy for me to say no. if we were in dire need (so not necessarily for a DP on a house but more for rent/food if we lost our jobs or something) then perhaps i would feel differently
-- from a sibling? NO
-- from a friend? NEVER
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| Posted 8/15/05 3:14 PM |
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Re: Would you ever borrow money
From family yes, but not from friends unless it was a life or death matter.
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| Posted 8/15/05 3:14 PM |
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Elbee
Zanzibar
Member since 5/05 10767 total posts
Name:
Me
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Re: Would you ever borrow money
parents only, and probably ask very little of them if it was an emergency.
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| Posted 8/15/05 3:16 PM |
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Re: Would you ever borrow money
I would only borrow from my mom and thats if it were a TRUE life and death situation.
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| Posted 8/15/05 3:16 PM |
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Redhead
You Live, You Learn
Member since 5/05 31871 total posts
Name:
Jennifer
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Re: Would you ever borrow money
Posted by Palebride
I have borrowed money from my parents in the past - and we have a payment plan set up, with interest, so that it will never be an issue.
with interest? you parent charge you interest?
then why not just get a loan from a bank?
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| Posted 8/15/05 3:17 PM |
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Janice
Sweet Jessie Quinn
Member since 5/05 27567 total posts
Name:
Janice
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Re: Would you ever borrow money
Posted by DonnaJoe708
Posted by Janice
I would rather take a loan out then ask family or friends. Too sticky of a situation, I have never needed to borrow, but I have been on the other end MANY times where IL's have called us for money.
I agree. I've seen money issues come between people too many times.
and I also hate as the lender, the feeling that I get if someone still owes me money and I see them with new clothes on or they tell me about a great restaurant they just went to....I know it is petty, but I can't help to feel like oh maybe you should have paid me the 50.00 instead of the manicure.
I also am not a fan of payment plans either. If I gave you a chunk then give me a chunk back. Not a couple of hundred here and there. It was already resting nicely in the bank, collecting intrest, I take it out for you, and it comes back in drips and drabs with my responsiblity to put it back in the bank. It is hard because the money will be in my house waiting to get deposited, then DH and I start borrowing from the money, for groceries and this and that...we normally don't keep cash on hand.
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| Posted 8/15/05 3:17 PM |
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MrsJ
I love my Katie Bug
Member since 5/05 11357 total posts
Name:
Kathy
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Re: Would you ever borrow money
Posted by Palebride
I have borrowed money from my parents in the past - and we have a payment plan set up, with interest, so that it will never be an issue.
I can't imagine borrowing from a sibling though....that might make me uncomfortable
I think this is a good idea because your parents benefit from lending you money (by getting interest) and you benefit from borrowing from them instead of a bank - becuase when you borrow from a bank your credit is being extended.
When I borrowed a little money from my parents years ago I volunteered to pay them back with interest. It was the least I could do since they were helping me out and losing out on interest by having the money invested or in a bank. I didnt pay prime interest rate but I still gave them a little something for interest.
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| Posted 8/15/05 3:22 PM |
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GenLCSW
Baby # 3 is here!!!
Member since 7/05 21138 total posts
Name:
Genna
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Re: Would you ever borrow money
Posted by THEINFAMOUSMRS.OTG
I would only borrow money from my parents if I HAD to. Nobody else.
I agree...only if I absolutely had to I would ask only my parents
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| Posted 8/15/05 3:33 PM |
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MommyofG
just the girls
Member since 5/05 9461 total posts
Name:
Janice
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Re: Would you ever borrow money
I would have to be out on the street for me to ask for money and only from my parents! I would try to use every resource ( stocks, assets)I have before I went that route.
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| Posted 8/15/05 3:33 PM |
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Salason
♥
Member since 6/05 9878 total posts
Name:
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Re: Would you ever borrow money
Posted by Janice
Posted by DonnaJoe708
Posted by Janice
I would rather take a loan out then ask family or friends. Too sticky of a situation, I have never needed to borrow, but I have been on the other end MANY times where IL's have called us for money.
I agree. I've seen money issues come between people too many times.
and I also hate as the lender, the feeling that I get if someone still owes me money and I see them with new clothes on or they tell me about a great restaurant they just went to....I know it is petty, but I can't help to feel like oh maybe you should have paid me the 50.00 instead of the manicure.
I also am not a fan of payment plans either. If I gave you a chunk then give me a chunk back. Not a couple of hundred here and there. It was already resting nicely in the bank, collecting intrest, I take it out for you, and it comes back in drips and drabs with my responsiblity to put it back in the bank. It is hard because the money will be in my house waiting to get deposited, then DH and I start borrowing from the money, for groceries and this and that...we normally don't keep cash on hand.
i agree and i get the same feelings. it is hard to be happy for things that someone gets when they make little mention of the $ they owe me. it's sad bc it takes away from feeling happy for your loved ones and builds resentment.
i have also gotten the vibe that since we dont need the $, they can take their time paying us back in dribs and drabs (and even worse not mentioning it at all forcing us to ASK) and i hate this. it puts ppl close to you in a position to judge your financial standing (and us theirs) which is none of anyone's business.
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| Posted 8/15/05 3:35 PM |
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monkeybride
My Everything
Member since 5/05 20541 total posts
Name:
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Re: Would you ever borrow money
Probaby not at this point in life unless we really had to and I would most likely go to parents.
I don't like borrowing money.
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| Posted 8/15/05 3:37 PM |
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DonnaJoe708
Hello
Member since 5/05 4002 total posts
Name:
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Re: Would you ever borrow money
Posted by Janice
Posted by DonnaJoe708
Posted by Janice
I would rather take a loan out then ask family or friends. Too sticky of a situation, I have never needed to borrow, but I have been on the other end MANY times where IL's have called us for money.
I agree. I've seen money issues come between people too many times.
and I also hate as the lender, the feeling that I get if someone still owes me money and I see them with new clothes on or they tell me about a great restaurant they just went to....I know it is petty, but I can't help to feel like oh maybe you should have paid me the 50.00 instead of the manicure.
I also am not a fan of payment plans either. If I gave you a chunk then give me a chunk back. Not a couple of hundred here and there. It was already resting nicely in the bank, collecting intrest, I take it out for you, and it comes back in drips and drabs with my responsiblity to put it back in the bank. It is hard because the money will be in my house waiting to get deposited, then DH and I start borrowing from the money, for groceries and this and that...we normally don't keep cash on hand.
I agree about the new clothes, eating out, etc. One of my cousins owed her brother $3000 for seven years. She still hadn't paid him back as of a few months ago and then went ahead and installed a new pool in her house rather than pay back the money she owed. Needless to say, this didn't go over too well!
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| Posted 8/15/05 3:40 PM |
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Re: Would you ever borrow money
From parents, yes...not from anyone else
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| Posted 8/15/05 3:45 PM |
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JenniferEver
The Disney Lady
Member since 5/05 18163 total posts
Name:
Jennifer
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Re: Would you ever borrow money
I'd borrow money from parents or siblings, but only if I had to, and with a payment plan set up. I mean if it's a couple hundred bucks or $1000, which I've had to do, I don't see it as a big deal. My sister and BIL are way older than I am. It's never caused a problem. I wouldn't want to borrow a large amount of money. My sis and BIL offered to lend us $$ to pay for our entire wedding so we would not have to postpone, but I can't see borrowing that much $$ for a wedding. if ti were for god forbid surgery or I needed a car to get to work or something then yes, but not for something I don't "need"
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| Posted 8/15/05 5:04 PM |
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