My dad said, Lending money to family members causes amnesia, do you agree?

Been there, done that, never got payed for it. I agree with Dad.

Sometimes it can be difficult lending money to family because some people, not all, may take the money thinking it is a gift because you are family. If a family member is asking to borrow money and you choose to do it, make sure you set up clear guidelines, like when they are suppose to have you paid back by. Even make up a contract and both sign it. Whatever you do just be clear with your intentions!

It depends on which family member I borrow from. My dad is constantly GIVING my younger sister money, so when I borrowed 500$ after graduating, i didn't feel pressure to pay him back. When I borrowed $500 from my 86 year old grandmother, I immediately began paying her back $50 a month and was finished in 10 months. Her favorite topic of conversation is how much money everyone owes her and I didn't want to be a subject in that conversation.

Yes, your dad may be right, but not just family members. When you are lending money don't expect to get it back any time soon.

Your dad is very right! It's not just family members for some reason. I think it's the new metal strips they put in the bills...causes something to go haywire with electrodes and all of a sudden the money just fell into their hands with no help at all. I kid.

Depending on the family members, but I have seen cases where this has been true. With me...when I give someone money, no matter if it is family or a friend, I don`t expect to get it back.

Anytime you lend money to family just accept the fact it is a gift and a pleasant surprise if its ever repaid.

How true! Best way to lose a friend or relative is by lending them money.

i havent lent funds to a relations member yet thats no longer putting forward i wouldnt. I truly have given funds to youthful individuals in the relations (devoid of intentions of being repayed) yet there are particular human beings i might want to be pleased with lending funds too. i do despite the indisputable fact that have those "shady" relations (easily everyone has a number of those) who i recognize better ideal than to allow borrow funds. for me it purely relies upon on who the guy is. warm oil rubdown. i easily love massages :-)

Definitely. The ones who borrow the money forget to pay it back.