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Loaning Money: Where Do You Stand?

Discussion in 'Non-Vegas Chat' started by VegasGroove, May 16, 2018 at 12:38 PM.

  1. VegasGroove

    VegasGroove VIP Whale

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    I just listened to a conversation between two people at my work. The lady was complaining about her nephew who is always asking for loans, sometimes he pays, most times he doesn’t. The guy talked about his wife’s brother who is down on his luck and sidles up every first of the month like clockwork asking if he could “slip him a little” to tide him over.


    I know things are tough all over and moreso for some. Here are some questions for you:


    Are you the go-to person in your family or among your friends?

    Do people assume that since you go to Vegas frequently, you must be rolling in dough?

    If you “loan” money to family or friends, do you just write it off knowing you won’t see it again?

    Do you get the “dry-beg” like: yeah, that (insert) bill is darned high this month or don’t know how I’m going to meet my mortgage this time around or sure wish I could afford that weed whacker.


    In an emergency, yes, I have given (lot loaned) money to my niece to meet her college tuition payments, but that is furthering her education. For habituals, no.
     
  2. nostresshere

    nostresshere Mr. Anti Debit Card

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    Start asking THEM for money. Carry on about all your expenses anytime they call. Cry a river over your problems. Moan about having to pay the IRS back taxes.

    (been there... this stuff works - but you have to take the lead)
     
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  3. Ty

    Ty ?

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    I don't loan money. I have given money as you mentioned for college expenses.

    I worked with a guy who wanted to borrow money for his daughter's Christmas presents, he was going through a divorce. This guy was a big-time hunter. I said I would loan money but he had to provide several guns as collateral. He agreed but never brought it up again.
     
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  4. Dutch34

    Dutch34 Low-Roller

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    I flat out refuse to loan friends money...wasn't always the case and I've found it causes undo stress and strained relations. Even so far as to when I'm in Vegas and someone will text me 'put $100 on the Cubs' or whatever...just flat won't do it. If they win, I have to collect, etc...if they lose, I rarely see the hundo...so I just don't make bets unless I have cash in hand, in advance. I've been there when I was the one needing help...never went there and figured it out.
     
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  5. DoctorD

    DoctorD Tourist

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    I get it. It is awkward definitely if you make trips to Vegas because that is "disposable" money.
    At work, generally no. If I do its under $100.

    For family, I have no problem if they are short on a bill, mortgage, etc... Just some sort of plan to pay back. Sometimes it is a true timing issue. I suppose if it was younger family, I also would be more attuned to the (likely) scenario that I won't be paid back all of it.

    When it is a timing issue, I'll also mention to them that alot of companies will allow you to call up and request a different due date without a hassle.
    Sometimes it goes into effect your next bill.
     
  6. Mudhen

    Mudhen Tourist

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    I don't loan money to anyone. Don't borrow it, either. But it doesn't really matter, because all of my friends have more money than me, anyway.
     
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  7. bubbakitty

    bubbakitty Doing tirement again and happily so....

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    Where do I stand ? At the back of the line. I am like ty...what do they love? I’ll have some of that for the pittance you want. Never has the transaction continued.
    Nothing but ill will can come if it. Works for you? Great. Just not my cup of tea.
     
  8. runningonthehub

    runningonthehub Low-Roller

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    My mother always said "grown folks are suppose to have their own". I do not borrow money and I do not ever loan money.
     
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  9. ardee

    ardee VIP Whale

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    I don't believe in giving personal loans because it can damage a good relationship if the person isn't able to pay back the loan.

    I do believe in giving without expectation of payback when I know someone is in need and I'm able to do it. Makes for a better night's sleep for all concerned.

    If I can't do it I say so.
     
    Last edited: May 16, 2018 at 1:46 PM
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  10. mescalita

    mescalita old and in the way...

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    Exactly. My lovely wife believes in taking care of folks with no strings attached, especially family. The best payback from this is that our grown kids have adopted the same attitude.
     
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  11. leo21

    leo21 VIP Whale

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    There is only one person bold enough to ask for a loan in my life. I evaluate whether the reasons are noble and then I may give in, knowing the money is not getting paid back. And if the reasons are crap or they attempt to use me as an ATM, my response is that I don't have it to give.
     
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  12. BlacklabberMike

    BlacklabberMike VIP Whale

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    the only people i will loan money to is my track and vegas buds as long as i have the extra scratch.

    though one satrurday night at a stag party Craps game, the two um, how should i say this, boyz ;) got hooked and were about tapped.... i had gotten on a heater earlier and asked if they wanted and advance.... they said, ok, and i loaned them $500... told them the vig was 10% ...
    i left with my winnings minus the 5...
    sunday morning they met up with a friend of a friend with $550 for me.
    i said forget the vig.... they didn't forget about that.

    couple years later the wife and i decided to go on an overnight to ac..made the reservation
    and showed with the cc.... was told... "no charge mike" compliments of ......
     
    Last edited: May 16, 2018 at 5:03 PM
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  13. Camp Rusty

    Camp Rusty VIP Whale

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    Did it once..........co worker/casual friend asked me for a five hundred dollar loan to pay for his daughter’s baseball team deal and her uniform. It was a slow time at work and I was an owner, he was an installer. I wanted to help her out, and him.

    Money went straight to a poker game.

    I was combo pissed and disappointed, then to top it off never paid me back but instead stole two new chairs off one of our vendors loading docks and gave them to me cover the “loan”. I was in the furniture industry, like I needed two chairs.

    Daughter had to sit out baseball that summer too.

    Never again...........
     
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  14. vegasdev

    vegasdev VIP Whale

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    that is very similar to what I do.
    if I feel like they are getting ready to ask me for something, I turn it on and start whining about my bills and having to work 2 jobs and so on....
    most people that know me don't even bother anymore.
    $20 or $40 is about my limit, and I don't expect to get it back. if it were anymore than that and I did not get paid back, there would be jail or hospital involved. it's not worth it.
     
  15. OhioStateAlum

    OhioStateAlum Low-Roller

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    My opinion is that money does not solve money problems; people need to change the behavior that led to the money problems. Simply throwing money at someone else’s problem flat out does not work. For that reason, I don’t do it- but I also haven’t been asked by anyone in years.

    Now, if we’re at a casino or somewhere else that is a “cash only” place, I’ll gladly toss a buddy $X to save an ATM trip and I’m always paid up immediately via Venmo. I don’t think that falls under the umbrella of a loan in the spirit of this question, though.
     
  16. pebbles

    pebbles VIP Whale

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    I used to give my brother a few quid to tide him over to payday. He always gave it back, so I would do it again if he ever asked. He hasn't asked for over 20 years, I think he's a grown up now.
     
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  17. alanleroy

    alanleroy Click my avatar

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    I have a loan proposition and I'll pay 20% interest. I'm looking for a million people to loan me 5 bucks each. I'll pay each of them back $6.00 in one year....One random lucky lender will get $10,000. If all works out, I get my 5 million, my lenders all get 20% interest and one lucky lender gets $10,000. If things don't work out, no one really cares about losing 5 bucks to an Internet scam anyway. Who's in?
     
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  18. BostonJP

    BostonJP Low-Roller

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    I generally won’t loan money to anybody. I’m fortunate enough that most of my family is well-off, so they don’t need my money and anybody who does would go to one of them before they’d think of asking me!
     
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  19. Joejoejackson

    Joejoejackson The Max Bet King

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    I help friends in need
    Do I know they are in need yes most of the time
    If they pay me back no problem,I will loan again,If they don’t and move state etc...
    They know better to ask again

    Very simple I care
     
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  20. Texas Steph

    Texas Steph Semi-reformed Degen

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    Loan? No. Never works out.
    Give? Depends on the person and the situation.
     
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