Borrowing

Today I want to talk about a very touchy situation; and that is borrowing money from family and friends. I say this is touchy for a couple of reasons; first just borrowing the money in the first place, second is because this will probably piss off a few people if they read it. But hey maybe it should.

I know we all get in a fix and need some help some times, but I am a firm believer you should not borrow or loan more then $50-$100 to or from friends, period. Nothing you can't pay back within a week or so. Now there are situations when maybe you are going to a game or something and you pick up the tickets, or you pay for a hotel or anything up front, but I still say keep it to a minimum. My main reason for saying this is if for some reason the loan cannot be paid back in a timely manner you risk hurting your friendship. There are of course the friends we call family, and yes I would trust them with a lot more and feel comfortable that I would see the repayment as soon as they could, and I believe this goes in reverse also. I don't think I have ever not paid anyone back.

When it comes to family I know we need to help each other out sometimes. But there is still a line that should not be crossed. We have had to borrow from family a few times to make a house payment or get out of another jam but we have always paid or are in the process of paying every penny back. My mom has bailed us out of a few jams but as soon as I get caught up or get some extra money, we pay her back in full. Now some family you can take longer to pay back because they don't need the money right away, but you still have to pay it back. But as for my mom, she has helped me when she does not have much and we have paid her back when we told her we would. As with most families there are some smaller loans you know will not get paid back but that does not make it right. Some smaller loans like $1000 or so is not the end of the world if I don't get it back but don't just assume I don't want it. But then again this also depends on the family member you are loaning to.

I don't care if you are a close relative like a sister or brother, or just a cousin; don't assume that they are OK with you not paying them back. Now if we are talking in the area of 10-20 thousand dollars or higher you damn well better be paying it back or at least making some kind of nice payments towards it. $100 every few months is not acceptable!! If you made a promise to pay it back when you sell something big like a house or land or anything like that, then honor your word!! Don't go out and buy new things you can live without like a car or a trip or anything!! First of all it is a slap in the face to the family member you borrowed from, and second it makes you look like a self-centered, non-caring person that should be ashamed of themselves.

I will do anything I can for most of my family, but if it’s a lot of money they need and I can help at that time, you better believe I will make damn sure I get it back in a timely fashion. Again I am not worried about small amounts, I know I will get it back sooner or later but large amounts need to have a time table. Yes I have borrowed from my mom, dad, grandparents, sister, and in-laws, but they all have been paid back in full.

So it is my opinion if you are one of those who owe money to a friend or family member and you don't really acknowledge it, and you still seem to have money to buy what you want, or you come into some money and still don't pay, then you need to pull you head out of your ass and wake up!! If you think your family does not care or they don't need the money then think again. Stop being the self-center, non-caring, worries me, fake ass person you are and pay them the money you owe.