Husband borrowing money from friends and family?

Question

My cousin's husband works part-time but sometimes he needs to borrow some money from friends and family.

She tells me she budgets the money and she knows he withdraws money from their account to pay these people back. She addressed the issue with him and he said any matters that are his, he will handle himself. 

She has helped him since she has been with him. What do you think? How to handle this matter.

Her husband is a nice guy but he has faith and trust with too many people.

? · Accepted Answer

I recommend getting a budget together or 2 separate bank accounts if applicable. Also, she has to confront him more about the issues and hopefully he will understand.

Anonymous · Answer

Why does he borrow money from other people?  Where does the money go?  If he uses it to buy food for his family, then I guess its okay until he can find a full time job. 

But if the borrowed money goes to his own pocket and doesnt tellthe wife where it goes, then there's a big problem. 

Its not okay to be always borrowing money.  The wife should talk  to her husband again  and tell him how she feels about this.

RanaBanana · Answer

Sorry your cousin is in this situation, but unless she asked for advice, you need to stay out of it.  

He needs to grow up and stop spending money they don't have.  People need to stop lending him money.  One day he won't be able to pay back loans and then his reputation will be ruined.  

I know a guy like that, he owes a lot of people, a lot of money and friendships have been ruined over it.  He buys things from people and says he'll pay them later, but he hasn't worked in over 2 years!  Only fools let him borrow or buy things on good faith.  My husband and I used to buy his family groceries when things got really tight, because we didn't want the kids to go without, but we had to stop.  And his wife is on OUR side, it's unfortunate for the kids, but this guy is so accustomed to waiting for a handout he's gotten lazy and we couldn't keep up with it.  He still has people willing to do that  for him (his parents mostly), but we won't be suckered anymore.

If he needs more money...he needs to get a full time job.  Lazy bum.


Edit:  So is he borrowing money FROM people, or lending money TO people?  There's a big difference.

Anonymous · Answer

They should have separate bank accounts. There is no way I would let someone have access to my money like that on an on going basis if I were the only one with a full time job and the other person couldn't manage part time money. No way..

Anonymous · Answer

What's his reasoning behind why he's borrowing the money? That should be the #1 question. What's he doing with this money that is required before he gets his paycheck? 

Until you know any answers to these questions, it's going to be hard to get a good answer.

? · Answer

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frillyfroofroo · Answer

Recommend they sit and do the budget together.  If he will not, then recommend marriage counseling.

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Husband borrowing money from friends and family?

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