For my parents, its a big fat no lol
They believed that since they spent hundreds of thousand dollars to raise me, I should let them borrow as much money from me as they want and they never have to pay a dime back lol
I'm okay with it most of the time because they haven't ask for anything outrageous.
Do you agree? Disagree? How does money play a role in your relationship with your parents?
My parents have never asked to borrow money from me, but if they did, I think they would pay it back as soon as possible. Their cell phones are on my plan and they pay me like clockwork on the first of every month without me ever asking.
I've been the family bank. Including my parents. Nope. Not again.
For me, I give it to them, it's not a loan to my parents. I'm very lucky and they have always been there for me.
Now anybody else, I write it down and no more is loaned until that is paid back.
Nobody wants to borrow money from me. I demand FULL disclosure as to why they always need to borrow money. It seems nobody wants to address their behavior when it comes to finances.
I also don't cosign anything. Period.
My mom has horrible credit and would always use all of her available credit and pay it back with minimum payments. But whenever she borrows money from me, she pays it back as soon as possible. I've never asked her to pay me back, this has just always been the case.
Recently, I even added her as an AU to all of my USAA cards, my AMEX cards, my Chase Freedom, and my Walmart store card. She has never spent an unreasonable amount even though the limits are higher than any she's ever had access to. And she transfers money to my USAA account every payday for me to make payments, usually paying in full.