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Should i loan money to my mom

so my moms car broke down and i keep runing around wondering if i should give her the money to get it fixed. my mom doesnt get income taxes and i know she will pay me back half of it and it would only be in payments or should i just give her the money and tell her she can make the payments on her les schwab bill cus they are about the same? wjhat should i do ?

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kyiahsmommy

Asked by kyiahsmommy at 11:10 PM on Mar. 8, 2011 in Money & Work

Level 12 (684 Credits)
Answers (9)
  • I would just give her the money if i could afford but at least ill be getting half back...or if it doesn't matter if she pays you back just give it to her so she's able to get around. I kinda don't understand the last part.
    Unique11

    Answer by Unique11 at 11:16 PM on Mar. 8, 2011

  • If I could afford it and if I knew she'd help pay it back to me I most likely would.

    - oh and sidenote, our kid's names are a lot alike =) First time I've seen that!
    Nanixh

    Answer by Nanixh at 11:20 PM on Mar. 8, 2011

  • I would give my mom the money. My mother has done so much for me and if she was in a bind I would be more then willing to help her. But I wouldn't ask for the money back. Not sure how your relationship is with your mom but I'm really close to mine so I wouldn't feel too good about telling her to pay me back. Money come and goes
    Christieluv0614

    Answer by Christieluv0614 at 11:26 PM on Mar. 8, 2011

  • If you have money to lend to her to fix her car do it. If you are financially stable, I wouldn't worry about her paying you back. Didn't she do a lot for you when you were growing up? But if you really need the money back, let her do it in payment so it won't be a burden on her.
    amessageofhope

    Answer by amessageofhope at 12:01 AM on Mar. 9, 2011

  • We don't loan money to friends or family member. If we have the spare money we'll give it to them- but we never loan.
    Erica_Smerica

    Answer by Erica_Smerica at 1:01 AM on Mar. 9, 2011

  • Never 'loan' money to family. If you have the money to spare then give it to her with no expectations for repayment. If you can't spare it, then don't mention it at all. Loaning money and waiting for the repayment will just lead to bad feelings between you, especially for you. Everytime you see her buy something you'll think to yourself "oh you could buy that, but you can't pay me back". Either give her the money or nothing at all.
    slw123

    Answer by slw123 at 8:21 AM on Mar. 9, 2011

  • Only if you don't need it back
    rkoloms

    Answer by rkoloms at 9:26 AM on Mar. 9, 2011

  • If she's good at paying back money, and you have it in writing, go for it.
    HotMama330

    Answer by HotMama330 at 11:50 AM on Mar. 9, 2011

  • Like most of the others said if you can afford it. Meaning if you have savings in your account for AT LEAST 8months. When "loaning" to a family member NEVER expect to be paid back or if you do write a contract with the person.
    vjoaquin

    Answer by vjoaquin at 12:42 PM on Mar. 9, 2011

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