Even if you have friends or relatives you feel you’d do anything for; it’s understandable if the idea of giving one of them a large amount of Money gives you pause.
One woman is unsure what to do after her Boyfriend asked her to give his mom a large amount of money to pay off debt she owes on her cafe.
She’s 29 and has been with her 32-year-old boyfriend for six years. They both live with their parents, but she plans to make a down payment on a House in the next few years. She is studying to get her master’s degree and working a few side jobs while her boyfriend works as a lawyer.
“I have quite a lot of money set aside that comes from my grandparents’ inheritance, [around] $159,300, which I am using to pay for university and extra activities,” she said.
“I always try to be careful not to spend too much since that sort of money could be used as a down payment for a house, and the remaining could make a good savings account once I move out and start building my financial independence.”
Her boyfriend makes a decent living with his job. Unfortunately, his mom is in a different boat. A while back, his mom purchased a cafe and is now in debt because she’s been behind on all sorts of payments.
Her boyfriend did what he could to help his mom, like taking out a loan from the bank, but she’s still in trouble and needs more help.
A few weeks ago, her boyfriend asked her if she’d be interested in paying one-half to buy his mom’s house, which would cost around $63,750. He’d pay for the other half, they could move into the house once she finished her master’s, and his mom would have some extra money to put toward her debt.
She told her boyfriend she’d consider this idea, but after speaking to a financial advisor, she realized it wasn’t the right plan for her.
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When she told her boyfriend she didn’t want to split the house with him, he wasn’t understanding. He was angry.
He called her selfish, greedy, and unreliable. Then, less than a week later, he asked her to loan his mom around $31,800 and promised to pay her back in increments of a little over $300 a month.
While this plan sounded more reasonable than buying his mom’s house, she was still conflicted. She tried to negotiate with her boyfriend, asking if he’d be willing to pay her closer to $500 a month instead of $300, but he told her it would be too much for him.
“I feel like I’m being used like an ATM,” she explained.
“This whole story really rubs me the wrong way. I feel like I’ve been put in a situation where if I don’t lend the money, I’m [a jerk], but if I do, I put myself in a difficult situation, especially considering his mother’s debts. I’d have no guarantee I’d get my money back.”
Should she loan her boyfriend’s mom the money or find another solution?
You can read the original post on Reddit here.
