Challenges of giving financial assistance to family members

Daykas

Active member
Sometimes, rendering financial assistance to family members can be very difficult to cope with. My fist three years at work, I tried satisfying everyone but soon realised that the more I give them, the more they demanded and almost little or nothing would be left for me before the end of the month. So I decided to be more firm and strict with my financial support since I am not earning a huge pay but just enough to hold me. Since I started saying no to excessive financial demands, I have had series of disagreements with the members of my family, but I still maintain my stance.
Although, I occasionally surprise them once in a while by sending substantial amounts of money even when they least expect it. It's quite sad, when you lend relatives money, don't expect to be paid back. Even when you are broke, they still wouldn't be convinced and no one might be willing to help out.
The main reason they won't believe is this,when you do have you always try to satisfy all of them.
Have been in that of situation most times of my life. I even go to the extent of getting broke so has to make their own end meet forgetting or even planning for my self.
The best you can do is to make them realise by actions that you need to plan for yourself also.
 

Alexandoy

VIP Contributor
This is not a rant. I just want to share that I was also in that trap when I was younger. All my 5 siblings would ask me for financial aid and sometimes borrowing money with no promise to pay. I was over generous so that I was able to help all of them. But in the end there was no gratitude. Now I have learned my lesson that I never lend money anymore.
 
Family members are already part of us and once you stop handling family members or you have settled them, then there comes your own children too to satisfy their demand so I think they are our responsibilities and must be looked after but deligently by providing the priorities not unnecessary expenses. For the credit lend the amount you can let go
 

Abee111

Active member
We like it or not we must help our families and it is good we give them Financial assistance whether in business or any other thing.
But the problem of doing that is that when you give them money like loan or anything related to that to repay you back, it will take long before you get that from them and when you will ask about it, will sometimes turn to something eals.
 

eojo2401

Active member
It is good to give financial assistance to your family member, relatives or friends but it must be in moderation. Then study the person you want to help financially, is he a person that really need help or he just needs money to drink alcohol or carrying prostitutes. Above all, don't give out what you know it can affect your business. If you try to please them and you failed in your business, they will be the one to mock you tomorrow.
 

Victor001

Active member
Family is family, business is business, we shouldn't mix the both. Though it's adviceable to draw a thin line when to borrow and when to give. I personally don't lend to family, I choose to give and let go,this is not because I don't have enough but because of the effect it could cause when you ask for refund and you are being dwindled.
 

Maphalle

Member
It can be a very difficult exercise to carry but at the same time you cannot leave them to suffer. If you assist the family financially to start a business, make sure you get involved until it's running smoothly so that you can be able to claim your money back or leave them to run it in their own.
 

Lekhraj19

Verified member
It's a very good thing to me and I have gone through since I have been earning online.I always tried to help my parents with whatever the money I earn, although it's not much but it comes in use for a few things.Also, u joined a course recently and I want to pay it on my own.
 

IamDozzy

Active member
Giving financial assistance to family members is always a very good thing but sometimes family members try to take advantage of your good will by over stepping their boundaries and taking more they can chew. For example it is almost certain that once you borrow money to a family member, getting the money back from the said family member can be very tricky.
 

Ummigal

Active member
Sometimes, rendering financial assistance to family members can be very difficult to cope with. My fist three years at work, I tried satisfying everyone but soon realised that the more I give them, the more they demanded and almost little or nothing would be left for me before the end of the month. So I decided to be more firm and strict with my financial support since I am not earning a huge pay but just enough to hold me. Since I started saying no to excessive financial demands, I have had series of disagreements with the members of my family, but I still maintain my stance.
Although, I occasionally surprise them once in a while by sending substantial amounts of money even when they least expect it. It's quite sad, when you lend relatives money, don't expect to be paid back. Even when you are broke, they still wouldn't be convinced and no one might be willing to help out.
 

Dorcey

New member
Assisting your family members financially is not bad and that doesn't mean you have the money in surplus or make you a fool but If you have to give it should be willingly and it shouldn't be more than what you can afford and you should always try to let dem know that you don't have much with or you don't earn much so they won't see you as a stingy person or someone that is not really ready to help them.
 

Adetayo100

Active member
One of the biggest challenges of giving money to a family member is that those kind of money are very hard to collect back, most friends and families feel once you borrow them money you have already dashed them which is wrong as it makes you not to trust them again and borrow them in the future. What i do i once i borrow someone money i always have it in my mind that the money is gone.
 

Timison

Member
We possibly should be mindful when delivering help to relatives however it doesn't mean we ought not deliver help to them. You can give out what you can bear at that specific time and be earnest with them. They will most likely comprehend you when you need more to give them also. Being miserly to family is certifiably not an engaging plan to me
 

Haypril

Active member
AsI have always advice , don't give out what you can not lose. Rendering help to anyone be it close or distant relatives, be it a well known friend or family member, always be careful of what you give out because it might not come back as promised or might be too late when the person is returning it. The challenges of asking for your money after it has over due is very annoying.
 

Mataracy

VIP Contributor
No matter how you hide your self from people they will surely ask you for something or the other.
Some times when you give people some thing out of nothing they will still think that you just don't want to give them.
But want somebody just need to do is provide them one job that will keep them busy and earn them money so that,they will not disturb you again.
 

Teatea

Active member
One thing you must know is that you can not possibly satisfy everyone, it is just not realistic and no matter how far you go to please people, they would still complain and abuse it so why not just do your best and leave the rest. Help those you can help conveniently without affecting your finances.
 

btaliat

VIP Contributor
We only need to be cautious when rendering help to family members but it doesn't mean we should not render help to them. You can give out what you can afford at that particular time and be sincere with them. They will surely understand you when you don't have enough to give them as well. Being stingy to family is not an appealing idea to me
 

Taiwoayan

New member
Either we like it or not there will always be someone demanding or looking upto us financially. There are some family members that appreciate little help you render to them whereas many leach are also present that they will never be satisfy with any amount giving to them. The best is to give what you can afford to avoid unnecessary pressure
 
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