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re: Cousin just asked me for money: he’s a high income earner and parents are wealthy
Posted on 8/18/23 at 9:50 am to SECdragonmaster
Posted on 8/18/23 at 9:50 am to SECdragonmaster
quote:
Assuming this is real….
I have been asked for money by almost every person I am related to and I respond the same way:
Let’s set up a time to meet. Bring your bank statements, paycheck stubs, loans and outstanding balances, credit card statements and taxes from the last 3 years.
I will look through all of it with you and figure out a solution to this crisis INCLUDING considering loaning you money or even giving you money.
No one has said yes in the last 25 years.
You're treating them a like a bank would. Of course they won't say yes. It's the right play though.
2
Posted on 8/18/23 at 9:51 am to DakIsNoLB
quote:
You're treating them a like a bank would
I always say if a lending institution won't lend them any money there's probably a good reason for it
Posted on 8/18/23 at 10:32 pm to DakIsNoLB
quote:
You're treating them a like a bank would. Of course they won't say yes. It's the right play though.
Difference is that I probably would not charge them interest. It would actually be a free loan or a free gift of money.
Problem for them is that they don’t want me to see the actual reason they are in a financial bind. Which is exactly what needs correcting before you give them money.
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