What would you do? Should I lend my mom 10k? (Update pg 3)

Originally Posted by Ballin all day

Originally Posted by Elpablo21

Does the 10k affect you opening up your own business?

Maybe you should look more into what your mom wants to invest this money in to make sure it's legit...or at least attempt to see if it is or not

In some cases you would say of course give it to her because that's your mom...but that all depends on the relationship you have with your mom. Also you say you dont trust her exactly...is that because she has screwed you over before?
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Yeah, it does. Without that money Im probably done and just couldnt start it properly even though I got it all planned out and everything. My business plan involves about 23k plus 2k for unexpected stuff, so thats like 40% of the loot I got. Plus exactly 10k I had to borrow myself, so I would be giving her all of that.

We have a very good realtionship, but my mom was through a lot of different stuff when I was around 15-20, so I basicly raised myself, as my parents divorced when I was a kid. I got contact with my pops, but basicly I did stuff on my own since for the last 8-10 years, and Im 23 now. She might have burned me unintentionaly, but the fact is I had to do A LOT on my own, and sometimes I couldnt rely on stuff she was saying, as it actually never worked out for one reason or another. I know she would do everything to help me out, but sometimes life might me too much for her to handle. I want my business to work out, so I can held her out with stuff too. But I resources to do that, feel me?
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i feel you fam,
talk to yo moms and see wussup. as in talk to her and be like would i get the money next week. just talk to her and if it looks like shes serious about it thengive it a shot. everyone gotta help out their moms in a big problem fam
 
honestly, i wouldn't do it. but my situation is probably different than yours. i left my house when i was 17 and i don't get along with my mother.
also, my mother doesn't talk to her mother (my grandmother). why? money.
my mother doesn't talk to her brother (my uncle). why? money.
mothers seem to pull the "i gave you life" card for everything. your mother chose to have you. you should appreciate what she has done for you, butyou don't owe her any amount of money.
 
One more thing though. Im starting my business with my boy, who is my business partner. I handle most of the stuff, money included. So if I give the 10k to mymom and it doesnt work out or causes some delays, then I just play him big time and thats certainly not the way to start a partnership
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He is my boy that is going to have my back all the time, so doing him like that is a no no in my book.
 
talk to your boy and tell him whats going on and get some advice from him too. if hes your partner then you should definitely talk to him first and see what hesays about it
 
If your mom has shown a history of financial irresponsibility, then you should let the past be your guide to the future. As the saying goes, a fool and hismoney shall soon part. With that said, I would NOT give my mom the money. I would, however, try to help her secure a personal loan through the bank. She'll end up paying a lot less in interest over the week than if she gives you 10% of the original loan balance.

EDIT: She'll pay the bank about $30 in interest as opposed to $1000 to you. From my perspective, it's a no brainer.
 
Originally Posted by JordanKing Xi

talk to your boy and tell him whats going on and get some advice from him too. if hes your partner then you should definitely talk to him first and see what he says about it
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I think Im going to call him up right now, but the thing is he is probably going to say that its my decision. I know he would give up the last 3months of our work and some money if I really needed it. And since its my decision I think I made the right choice and wont risk all I got. Its not like mymoms life depends on it, she will have other transactions after that. And if she needs some money for daily needs Im going to give it to her as always.
 
When lending money...


If you can't afford to GIVE the moneyaway then don't let someone borrow it
 
Originally Posted by Ballin all day

Originally Posted by JordanKing Xi

talk to your boy and tell him whats going on and get some advice from him too. if hes your partner then you should definitely talk to him first and see what he says about it
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I think Im going to call him up right now, but the thing is he is probably going to say that its my decision. I know he would give up the last 3 months of our work and some money if I really needed it. And since its my decision I think I made the right choice and wont risk all I got. Its not like my moms life depends on it, she will have other transactions after that. And if she needs some money for daily needs Im going to give it to her as always.
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cool cool. so i guess the smartest choice is to just help your mom come up with the money not 10k but a little just to help her atleast.
 
I'd give her the money just out of principle. I dont know how many times my mom has given me money, KNOWING that I would eventually waste it, even when shewasn't necessarily in a position to just hand over money.
 
she can always find other clients... if u really need the money to start your business dont give it...
 
New Rule: Cliff Notes should be first. I just read all of that, and scrolled down to find that it had 'cliffnotes'.

And no, if I were you.. I would not give my mom the 10K. You have to look out for yourself before anyone else, even if it is your own mother.
 
damn if it was MY mom, yes i would give it to her...but you think your moms shady so...not sure.
 
It sounds like you already know you wont be seeing this 10k back if you give it to her. If you can accept that and your alright with it then I say do it. Butif its not something you want to have to deal with then I say no. The choice is yours and your the one who has to live with it at the end of the day..
 
Hmmmmmm honestly dude.....its a toss up. I could see if she needed a surgery...was about to lose her house.....etc.....but 10gs for something at her job???Wow...I'm a bit taken back at that amount...I could see...2...or 3....maybe even 4.....but 10....wow.
 
Originally Posted by Ballin all day

I didnt give her the money today and I kind of feel guilty about it. I dont often ask for advice, but in this case I still dont know if I have made the right choice.

So heres the deal. My mom called me today asking me if I can lend her about 10k for a week or so, and that she would pay me back around 1k more when she gives me the money back.
So whats the catch, right?

The thing is I love my mom and all, but she is probably the worst person I know with handling money, and she often fails in situations like this. She works in a real estate agency and she needed the money for some transaction to pay up front for some client. She attested that the situation is legit, and that I would get the money back on time. With this money she could earn some nice commision, at least thats what she said. Sometimes though, I know she might be trying to play me, so Im not sure if she was trying to do that this time. I still live at home, and I more than often give her money for some daily expenses and lend her money for bigger things often too, but I rarely get the loot back on time or sometimes at all.

Im graduating college in a couple of weeks, and I dont take money from her almost at all. I might take couple bucks when I go to the store, but thats probably it. I dont have a job, but I got some side hustles plus the financial aid at school, so Im all set. Right now Im opening my own business and I really need money. I didnt have the 10k all ready, but I could get it in a couple of hours I guess, but I just told her I cant. I dont need all the money this week, but I was just concerned that I wouldnt get the money back on time and my business would be screwed almost before it even started. I just dont trust her with money at all, and I just think thats the case.

So what do you think would you do in this situation. Would you give her the money or not? She is still my mom right, I should be all behind her no matter what, but I still got my stuff to care about, so I dont know. What do you think?

Cliff notes, for those who dont want to go through all of this:
*my moms asked me for 10k for her job
*I dont trust her with money
*I have money for the business Im starting in about 2 weeks
*I could give her the loot, but I didnt
*I dont know if I was right
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wait you mean go to the bank and get the money in a couple of hours or earn 10k in a couple of hours? What kind of hustles are you doing thatcould earn you 10k
 
I personally wouldn't lend that money if I thought she might be lying. Never let money get between you and you fam.
 
Originally Posted by lauk4kicks


wait you mean go to the bank and get the money in a couple of hours or earn 10k in a couple of hours? What kind of hustles are you doing that could earn you 10k
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Well, its not like I would just go to the bank to get that money, cuz I dont keep the money in a bank like that, but I still woulnt have to earn it. I wouldjust need to pull some strings to get that loot, but its all mine as I earned it all before.

UPDATE: I didnt change my mind and didnt give her the money, still its all good though. She got the transaction done anyway and will be getting that commisionnext week. I didnt ask how she did it, but she says its all good, so theres no reason to regret it, as she is not salty at all. For real, its good to have itoff my chest and I dont need to feel guilty.
 
Good to hear, im glad the situation got sorted out. Decisions like this are hard, especially when it comes to family. Its good to hear that everyone came outok.
 
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