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re: A good buddy called me asking for money yesterday. Update 6/12
Posted on 5/26/23 at 9:27 am to Cosmo
Posted on 5/26/23 at 9:27 am to Cosmo
So many other options for him to get an immediate cash injection
- Sell one or both boats
- Sell the side by side
- Trade in one or both new cars for cheaper ones
- Sell one or both boats
- Sell the side by side
- Trade in one or both new cars for cheaper ones
1
Posted on 5/26/23 at 9:27 am to oldcharlie8
quote:
oldcharlie8
quote:
when someone asks for money......
Let borrow about $150 for lunch...
quote:
and they are friends
Shittt, want to go to lunch? you're buying!
Posted on 5/26/23 at 9:28 am to Cosmo
Also, I always feel a little better when I can be in a position to lend or donate to someone. I’ve paid bills for people, paid for a couple funerals, bought my aunt a car etc. I won’t loan to a drunk or junkie.
Posted on 5/26/23 at 9:28 am to YOURADHERE
quote:
the issue is they're typically so upside down in the cars/boats/ATVs/toys that they can't even get out from under them to relieve themselves.
True, in that case they need to do a voluntary repossession (give the item back to the lender) so they no longer have to make payments.
Posted on 5/26/23 at 9:28 am to SlowFlowPro
quote:
This is just lighting money on fire and ending up in the same shitty spot (possibly leading to another ask).
I've been on both sides of this scenario. I have paid back what I have borrowed quickly. I have never been paid back for what I have lent.
Posted on 5/26/23 at 9:29 am to Cosmo
How high are the chances that the friend posts here?
Posted on 5/26/23 at 9:29 am to Cosmo
He ain’t a man. Grown man takes care of himself and his family.
He is a child buying all that crap and spreading himself thin.
He is a child buying all that crap and spreading himself thin.
This post was edited on 5/26/23 at 9:30 am
Posted on 5/26/23 at 9:29 am to Damone
quote:
So many other options for him to get an immediate cash injection - Sell one or both boats - Sell the side by side - Trade in one or both new cars for cheaper ones
Likely all financed and upside down
Posted on 5/26/23 at 9:29 am to Springlake Tiger
quote:
There’s a difference a huge difference between legit misfortune (unexpected medical diagnosis, accident,death) and stupidity (what your friend has done). I’ll help the first situation, the second one, haha.
this, I had a close friend pass a couple of weeks ago, her husband was/is a wreck emotionally right now, they've got plenty of money but when the daughter was trying to sort through everything, look for insurance policies, make funeral arrangements, etc., there was quite a bit of unexpected expense that popped up, she was grieving pretty badly too, I offered to cover whatever immediate out of pocket needs she needed(again, they have plenty of money, but multiple bank/brokerage accounts, and the daughter was having trouble locating everything,) just so that she could focus on her father and have time to grieve herself
ETA: knowing that it would almost immediately be repaid, not that I was concerned about that
This post was edited on 5/26/23 at 9:33 am
Posted on 5/26/23 at 9:34 am to Cosmo
Maybe someone has already said this, but before I ask a friend for help I'm cutting everything the bare minimum, cancelling cable, streaming, every other non-essential. Or he is hiding something from his family and this is cover.
Posted on 5/26/23 at 9:38 am to Cosmo
Shakespeare said it best "Never a borrower, nor a lender be".
Are you sure his wife knows about their finances? He may not want to admit to her that he is not earning enough and they can't continue that lifestyle.
If you do lend him money, don't expect to get it back. EVER. If you keep that in your head, then the friendship will continue. If you worry about him paying you back, don't do it.
Are you sure his wife knows about their finances? He may not want to admit to her that he is not earning enough and they can't continue that lifestyle.
If you do lend him money, don't expect to get it back. EVER. If you keep that in your head, then the friendship will continue. If you worry about him paying you back, don't do it.
Posted on 5/26/23 at 9:39 am to Lsupimp
quote:
You should have lent him the cash if you trust and love him and believe he will pay you back. No to any of those and it’s a hard no.
Wrong. You only give money to people like this if you don’t expect to get it back, and you can afford for it to be a gift. If they give it back to you, GREAT. But you do not expect to get it back. That is how you lose a friend.
Having said that, I believe for all of us, there are very, VERY few unrelated friends this could ever apply to.
This post was edited on 5/26/23 at 9:43 am
Posted on 5/26/23 at 9:39 am to Cosmo
quote:quote:
The fastest way to lose a friend is to loan them money.
Id give him money. Wouldnt expect him to pay me back. But he needs to show lifestyle changes
My rule of thumb is never to lend money unless I can afford for it to never come back to me.
Posted on 5/26/23 at 9:41 am to sean5340
quote:
I have never been paid back for what I have lent.
Choose your friends or family a little closer.
Posted on 5/26/23 at 9:41 am to Cosmo
I may have missed it..but does the wife work? If the kids are in school, can she at least pick up a part time job. If we are in a financial crisis, it's all hands on deck. Not sitting at home, surfing insta.
And even if you are upside on the toys there are folks out there with the cash to buy them. Now it may not make you whole. But every let little bit helps.
And even if you are upside on the toys there are folks out there with the cash to buy them. Now it may not make you whole. But every let little bit helps.
Posted on 5/26/23 at 9:42 am to Cosmo
I've seen this judge Judy episode
Friend lent another friend $2.5k for past due bills.
Friend used money to take a vacation and claimed the money was a gift, not a loan.
Friend lent another friend $2.5k for past due bills.
Friend used money to take a vacation and claimed the money was a gift, not a loan.
Posted on 5/26/23 at 9:42 am to Professor Terguson
quote:
Wrong. You only give money to people like this if you don’t expect to get it back, and you can afford for it to be a gift. If they give it back to you, GREAT. But you do not expect to get it back. That is how you lose a friend.
in the OP's scenario, if he doesn't pay you back, why would you want this person as a friend?
Posted on 5/26/23 at 9:43 am to Cosmo
with as financially retarded as OP's friend is, what makes you think loaning him money is going to fix anything? He's clearly a dullard on teh topic so giving him money may help him with next months' bills but he's going to be right back in trouble again come July.
Idc how good a friend I am with the dude I'm not lifting a finger to help until he at least sells one of his boats. Wtf does this dude need two GD boats for in the first place?
Idc how good a friend I am with the dude I'm not lifting a finger to help until he at least sells one of his boats. Wtf does this dude need two GD boats for in the first place?
Posted on 5/26/23 at 9:46 am to Salmon
quote:
in the OP's scenario, if he doesn't pay you back, why would you want this person as a friend?
THAT'S THE POINT!
You only hand over money to someone if you would otherwise give it to that person without a second thought. I would give my sister just about anything she ever asked me for. I would go into debt if she needed it. I really wouldn’t give a frick if she paid me back. Honestly, I can’t think of a friend I would do that for without a hesitation.
This post was edited on 5/26/23 at 9:54 am
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