If you've ever loaned a few hundred bucks to a relative who refused to pay you back, I'd love to hear from you!
What would you tell a guy whose wife keeps loaning her 34 year old son (Jack, his stepson) money that never gets paid back?
"Jack grew up without a dad," says G. on Should You Lend Money to Family Members?. "I'm married to his mom who is the sweetest person. Jack doesn't have a good grasp on handling money. I loaned him $3500 four years ago to get his car engine rebuilt (an import car, I might add). In four years, he has paid me back $500."
Worse, his wife refuses to tell him how much money she's lending -- and Jack keeps spending his money on basketball tickets and frivolous junk.
I think the wife is a big part of the problem. She sounds like a nice lady and a mom who cares deeply about her son, but she's enabling him. She keeps giving him money, and doesn't hold him accountable.
Here's the article I wrote for G, to help deal with his stepson: When Your Stepson Won't Repay the Money He Borrowed.
Have you loaned money to friends or relatives -- and did you get it back?
Laurie Pawlik-Kienlen a full-time writer and blogger; she created the "Quips and Tips" blogs: