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Why You Should Never Loan Money To Family - Dave Ramsey Rant

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I’ve never sandbagged my immediate family That’s why It’s not family It’s sandbagged in family If you give family money to go to college for example and they skip class and don’t put effort that’s sandbagging You have far jealous family that may be jealous of your household I never sandbagged my parents for anything Obviously you would be more dishonest than me to my parents for example It’s a stupid statement to say that you shouldn’t lend money to family That’s credit That’s like saying you shouldn’t lend money to your spend If you have to lend money to your spouse she a whore And it means that you think she is going to not put full effort She can probably get a better deal paying someone to kill you How many times did you cheat on your wife man? It’s not borrowing that’s the problem For example for college you can go to community college and study hard and go above and beyond The people there can recognize They’ll give you alone tutoring other students
Comment from : @MarioOliveira-p5q

7:18
Comment from : @darrinlewis-n6t

One way to do it is the loaner will use spare money, and the one who loan will start to pay ittl back monthly interest or no interest are depends on you but keep it regular pay every month until it settled
Comment from : @lancheloth

Dont loan your kids the money to buy their first house Oh really, bought my first house at 21 thanks to mum and Dad, repaid them in 4 years At 32 i own a 325k property with no debt thanks mum and dad wouldn't have done it without you
Comment from : @philipjones3599

I laugh every time Dave says "Stupid" I think it's his favorite word!
Comment from : @MaddawgEDC

what a clown you are 🤡
Comment from : @CroireZero_Three

Never co-sign leases or loans brNever borrow against your home to pay for college medical bills etcbrIf you loan someone money, consider it a giftbrDon't loan money that you can't afford to lend presently or in the future😮
Comment from : @joycelyntaylor3136

I return the cash within 1 mth or compensate with either gifts or other goodies since I am also in business I also after all these yrs diversify
Comment from : @AngieleowHoon

I understand the principle And I don’t disagree brbrAlso I’ve had a huge personal reversal and had to borrow from family quite a bit It’s so hard to ask and hard to pay back But it was my integrity and by the grace of god, all debts are paid and I’m getting on my feet again ❤
Comment from : @ThemommaBear195

I’ve had three different people ask me to co-sign something, hell nah 😂 ain’t bout to ruin the credit score I ain’t touched yet
Comment from : @imjudgingyou000

I like the idea of not loaning to loved ones but instead giving gifts or charity This reframe makes you instantly reevaluate how much you’re willing to give when you don’t expect it to come back You can even budget for charity so you won’t have much room for guilt
Comment from : @YoungMule

It's my personal belief that only an a**hole will ask to loan money from youbr Having said this, I have loaned money but I have paid back every centbr That is incredibly rare in this world
Comment from : @suefleming

Im here because i let my parents borrow money from me 70k and they promised to pay it back after 3 days and now its been a week😢😢 I wanted to cry, im frustrated, they have history of not being able to pay back, that money i was saving for years Im Really frustrated and i am planning to Cut Of all my ties and will no longer talk to them if ever they won't pay me back Im frustrated now cos i have my own family already, i have kids, and i have bills, too😢😢😢
Comment from : @albertsguppyadventure4293

It depends on a person I don't loan big quantities at first But when I see that the person is trustworthy, they always pay me back as soon as they can, I feel confident to loan them more next time
Comment from : @brodaczszczuroap7329

I have the same principles
Comment from : @CinnamonStickk

Give a gift of money & don't make the recipient feel obligated or badly about it Never make it a loan
Comment from : @6361kris

Actually, you should borrow or loan ANY money for ANY reason to or from anyone If you can't pay cash, you can't afford itbrbrIf a friend asked for money and I had it, I'd give it to him Not loan it
Comment from : @StuJones-gn7te

So much true in this videobrCovid shocked my moms business, and she asked for help I said, use this account (I didnt care if I see that money back or not), she said once things go back to normal I'll pay you back After all got re-opened, she payed back every cent, and didnt splurge on anything until she had payed me back I never asked her to pay me back She would just dropped me a text saying I depossited X on the loand you gave me I never brought this subject againbrDisclaimer, she is the one who taugh me about money, as well as my grandfather
Comment from : @BlizAce

I cosigned a vehicle for a young friend of mine who was in the Marine Corps He didn’t have bad credit, he just didn’t have any credit history They would’ve loaned to him, but at a much higher interest rate than they would with me as a cosigner I cosigned the loan That was several years ago, and he just paid it off last month He never missed a payment The advice not to cosign is good advice in general, but you can still take into account the person you are cosigning for My friend is a fine young man with solid morals He can be trusted I am very glad I helped him If something had gone wrong, I would’ve stepped in I made the decision when I cosigned that I would do that without any animosity or resentment Luckily, that was never necessary
Comment from : @lllmmm3572

I borrowed $2500 from my mother to buy a car when I was in my 20s and I paid her back every cent She never held it over my head I guess I was lucky
Comment from : @suefleming

So glad that when we needed $14k extra to avoid LMI that we could get it lent to us from Mum Her knowing we'd get it back to her on schedule, us knowing she'd not hound us for earlier repaymentbrI know we're lucky in that
Comment from : @Raida7

You don't "loan" someone money, you lend it The money you have lent to them is the loan
Comment from : @AdventureGrampa

Luke 6:30 Jesus told his followers to give to everyone who asks brYou are evil in how you talk and think about money Your show is all about accumulating and loving money and wealth There is a reason why you never quote Jesus and have to look to the Old Testament to justify your greedy mindset and glorification of wealth and money
Comment from : @WengerdRW

20 years ago my sister and her husband borrowed $5k from me to use as a down payment on a house I was assured that it would be paid back in a few months Fast forward to today and I only got paid back half For years I asked and asked to be paid back, even if it was only $25 a month But I got nothing Over those two decades my sister's husband bought himself a motorcycle, boat, and a few other fun things My sister explained to me that her husband had to buy those items because he was under so much stress from work It made him feel better Since that time he has died and I know for sure I won't get the rest of the money So I learned a lesson the hard waynever, ever loan money to anyone
Comment from : @kenfrank2730

2 friends I lent too in dire straits I mostly did not get back One €5,000 got about half back The other, €1200, both for rent, 4 years later…no sign however I did say pay back when your not able n duress I never chased them up So Dave right give it to them but lending with expectations changes everything about the relationship
Comment from : @saolairde396

I lent my daughter £700, I said at the time that it wasn't a gift however I did say that there's no time limit as to when she pays me back, 7 years later no sign of the money and she now no longer wants anything to do with me, to this day I've never asked for the money back My partner warned me I wouldn't get the money back, I thought I could trust my only child, how wrong was I £700 might not seem like a lot of money to some but when you have been in the situation I was in when my daughter was a baby 44years ago and you needed 10 pence to make a phone call from a public pay phone and you didn't have it, it teaches you how to value money
Comment from : @karenhandford1475

My grandpa taught me to never loan money you’re not willing to write-off to friends or family
Comment from : @dmoney8373

I wouldn’t be friends with someone who called me up wanting me to co-sign on a huge loan
Comment from : @taylorsampson5434

Why are there so many versions of the bible? Did god do a rewrite? The sarcasm gets old and seems childish
Comment from : @lovemyscotsman

This is pure gold
Comment from : @moonwalker3962

My now ex-wife's family were leaches, in that when we finally bought our first home and had something to show for hard work and diligence they came out of the woodwork trying to borrow money every chance they could Not big bucks, but $20-$50-$100 a time added up to we had a few hundred to $1000 out every month in loans She couldn't tell them no, in spite of my putting my foot down, and I was always blamed when we couldn't make our own bills It lead to serious problems, and our marriage didn't survive due to that and other nefarious behavior When we broke up, I immediately set out to get fully out of debt mostly using DR plans, and hard work with two or more jobs We both remarried and I now have a very like minded wife, was able to retire at 55yrs oldbrShe's married to a real nice guy and still gives money to her nut job family My bet is he has no idea even after all these years She's a very attractive lady, and he got his trophy wife, but I have a beautiful wife as well, inside and out, and peace of mind, and a solid, very substantial income the rest of my life
Comment from : @DaleEGrant

I let a friend borrow money and she never paid me back brought it up and she said i never loaned her money she forgot I guess
Comment from : @nakisha1213

If your bad with adulting, you will be bad at all the essentials of life Never date a broke person
Comment from : @gracesanity6314

A wealthy person told me 40 years ago, "Quickest way to ruin a relationship is to loan them money" Such truth! If I can give $$ as a gift, so be it
Comment from : @like2bike979

Depends on who your family is My parents and siblings are honest hard working people who are good with money I’d loan them money without hesitation and vice versa U just gotta be sure you know who the person really is
Comment from : @titolovely8237

My mom taught me that if you give family or friends money you won't get it back Be able to accept thats its gone forever
Comment from : @Grimlock794

Was having trouble buying a home on contingency Asked both sets of parents for money Paid them back within one month on the sale of our home at double money market APY Everyone still loves each other Didn't love it the whole time and was happy when it was done, but it worked out for us
Comment from : @BillyCarsley

One of the times my older sister left her husband, she wanted to be "independent " and have a car in just her namebrShe got really bent when I wouldn't co sign a car loan
Comment from : @juliejohnson3835

My sister needed to borrow $500 She had just bought a brand new iPad for $1000 I told her going to me was like going to pawn shop I took the iPad as collateral and had her package it up in the box like it was brand new and told her one missed payment and i sell the iPad and keep all the profit and she forfeited any already made payments I also made her write me post dated checks for the repayments as condition for loan She told after repaying me back she never wanted to borrow money from me again
Comment from : @steve-on3234

Just say Noo and dont give out your ATM pin number to no one not even your spouse
Comment from : @LuisGarcia-rq2qo

It's just unconscionable to me that someone could do that, rip someone off when they extended help to you in your time of need?? People say don't lend money or you'll lose a friend, I say DO IT and find out who isn't really your friend!!
Comment from : @sarahj777

I loaned my best friend 40k She paid me back 50k and the money came at a time when I really needed it I got lucky!
Comment from : @melissaakey4631

Thanks for the amazing content brother
Comment from : @dannyrwagamba

That also goes to Broke ass boyfriends😅
Comment from : @ewm4266

A gift must never come with strings Be careful, there is an expectation… much like a gangster gifting you something A loan between friends and family is a no no
Comment from : @Highlyguided40

I needed TO HEAR THIS MONTHS AGO!!
Comment from : @alonzo4164

Dont do that
Comment from : @mariacambray7947

helpful insight
Comment from : @sleepy580

So Funny and Stupid!
Comment from : @jameswoods6900

I think giving a loan to a family member is the best way to never see or hear from them ever again - in some cases that's a good deal 😅
Comment from : @ismaileee

The best friend of my dadbr Asked him like 5k(in south america is a lot of money)brMy dad gave it to himbrHe left his wife and start with another family in another countrybrbrAside of the moneybrbrMy family felt so bad for the wife that even we help her with food Because she had 2 young kids
Comment from : @mrfetosan10

When I loan money to family, in my mind I always assume they won't pay me back They always do within the next month or two, but even if they didn't I'm fine considering it a gift Family is the only way socialism works I know that if I ever need anything, I can rely on them, and they should be able to rely on me
Comment from : @RushedAnimation

$200 Dollar limit,if you're a certain age &need to borrow 💰 ,something I'd wrong with that picture, unless you lose a job or something, mean while ,open a roth IRA with fidelity, have them deduct $15000 EVERY Friday via your linked savings account,,you'd be Suprise how that Adds up, ps you can have more than 1 roth
Comment from : @randolphhinton5371

Take a shot every time Dave says “stupid”brbr*dies
Comment from : @Logangil515

So basically you're saying, if someone is dumb enough to loan you money knowing you can't pay it back, it's the lenders own dumb fault That's why I never pay back credit card debt You were dumb enough to give me money I simply didn't have Your fault, not mine
Comment from : @billthebutcher6873

You lost me when you quoted the book of Jewish fairytales
Comment from : @anthonymarino7718

I cant stand this guy Half of it makes sense and the other half is pure hypobolic
Comment from : @charlesahweyevu

If a family member, or a good friend, asked to borrow some money I would say I love you, but I’m not a bank
Comment from : @timwiechmann1519

Very true
Comment from : @frankalbertyap9132

Never a borrower or a lender be Do not loan money Give it without expecting it back or don’t give it If someone needs to borrow money from you, it’s because they can’t borrow it from the bank
Comment from : @VioletEvans-yt2fd

12 in a hole now been over 5 years😢😮
Comment from : @UPEASTHAITIANZ

I don't loan money If I want to help they might get a one time gift from a friend 1 time And it's a small gift at that
Comment from : @timmytempleton2488

I love how passionate Dave gets when making these points And pointing out his own history that is contributing to this just reinforces the point
Comment from : @rsanders3

Always pay your parents back
Comment from : @richierich8628

Never have loaned anyone more than 100 dollars Been burned by about 50 of those even on small stuff! People and money suck
Comment from : @jackattack1993

Im always broke
Comment from : @JD-xm3mg

A co worker asked me to co sign a car for him I knew we had the same income and I couldn't afford the car so there's no way he could afford it
Comment from : @Telepian

I do agree, never loan money to family Either just give it to them Don't loan it And for god sakes, parents please don't think you are "going to give us money" when you pass away We didn't ask for it, so stop guilt tripping us that what you are doing is for us when in fact, you still have a lot of debt
Comment from : @DonLee1980

I never loan, I just give it to them with no expectations of getting it back We don't cosign for anyone
Comment from : @neo1738

I gave my business partner a “bridge loan” of 80k to help with the down payment on his house He said that he just needed it until his current house sold and that he would pay it back as soon as it did His house sold 3 months later and he never paid it back However, I kept that “loan” on the books for 5 years until our business was acquired and we liquidated our assets When we were diving up the proceeds I took an additional 80k plus interest He did get bent out of shape, but he had no choice because it was in writing The value of our company was in the millions so it really wasn’t a big deal for him to pay it But it just goes to show that even when people have means, they never want to pay you back unless they are legally required to
Comment from : @kesayo

Worked out completely fine for me My dad purchased my house cash from a repo auction in 2009 I paid him back monthly at a set rate I was never late a single payment I paid him back with an interest rate of approximately 3 brbrNow I own my house outright at 35 I am incredibly appreciative for the opportunity he gave me, not just the money he lent I had an incredibly low house payment of only $600 for 12 years (including taxes and insurance) I now own a house worth over $200k that I paid only $46k for and put about $10k in to fix it up before I moved inbrbrI never felt a single ounce of contempt and do not think that he did either I think it really just comes down to the dynamic of your family and if the borrower is truly trustworthy Overall I am beyond grateful for the opportunity to own my home outright at a fairly young age and not having to struggle for money to do it I hope I am in the position to do it for my daughter one day brbrI agree with Dave most of the time, but on this issue he only gets calls when it goes bad He doesn't hear the stories of the people it actually worked out for So it is fair to assume that he is biased
Comment from : @Clay_333

“Neither a borrower or a lender be” - Shakespeare
Comment from : @idkafknhandlebrah

This doesn’t apply to me because I am financially responsible, i care about my fellow humans and thanks to my dads co-sign I payed off my car all by myself Now will I ever co-sign or loan out money ever again? No Im short 2k and they never wanna pay it all back at once despite me paying them all at once 🤔 haha Thanks for the video
Comment from : @Creator_Veeto_PAEACP

Regarding the truth of our Creator that he gives us through his word, “new” / contemporary versions are not better To the contrary Such supposed “improvements” are most all satanic counterfeits, as evidenced by the identifiable confusion and lies in them brIn English, read the King James Bible Starting in Romans 1 - 4 to know that you need all your sins forgiven - and how brBecause you cannot take your money out of this world And whosoever was not found written in the book of life was cast into the lake of fire
Comment from : @CVerburgh

Some people seem to like entanglement They don't necessarily NEED other people; they just WANT to be entangled with them I know a couple of people who are like that, and I generally avoid them if I can Or at least I avoid the entanglement they try to rope me into from time to time
Comment from : @philochristos

I'm 49 and I learnt at age 23 never to loan money to friends or family Don't do it people
Comment from : @Tehui1974

I agree that it's not wise to co-sign for loans or to lend money to family or friends--or ANYONE for that matter However, I've had to be on the borrowing side of the equation a few times brbrI'm thankful for my dad who co-signed for me to get a car a couple of times But I DID make all the payments myself on a timely basis, and took my responsibility seriously brbrAlso, a couple of times, i had to borrow money from my brother for auto repairs He never demanded it back, but told me up front he expected me to work hard to pay it back as soon as possible He kept his word not to ask for it, and I kept my word to pay him back every penny brbrThese situations were the exception, not the rule Like Dave says, it changes your relationship with the lender, and you feel different toward them until you pay it back
Comment from : @helenhilton2158

Whenever I have given family money, I consider it a gift If I get paid back, it's a gift
Comment from : @shirleyparker4969

It’s never ending! Im so bad at saying no
Comment from : @thefunfam1433

This is so true…Don’t EVER LOAN MONEY 😳😬😏
Comment from : @Yogaismylife7

My Dad calls it an advanced payment from their portion of the Will
Comment from : @chrissysolorio3565

I loan my friend $100 I told him you don’t have to pay me back and he said I never do nothing for him never helped him out
Comment from : @lurycharles-pierre122

I spent weeks in my 20’s pissed off over being berated by my mother in law for refusing to give money to my husbands idiot sister I was listening to Dave on am radio at that time I am so glad I acquired a backbone It was much easier for me to manage mom in law being mad at me than me being mad at myself for allowing the abuse
Comment from : @karenabrams8986

Thank you
Comment from : @VivaLolaVlogs

oops, this video speaks to me, timothy lee , personally , because i am a leeching , disrespectful, ungrateful POS who values a dollar or a dime over his sons incredible hopefully i can still change my ways even though i am decrepit and unwilling to do so
Comment from : @timothylee2503

If only I could podcast my story if only From an ex wife willing to put me in debt for a punta cana wedding to an ex partner emphasising that I should marry her even though she will cosign a 15 million dollar house for her 19 and 22 years old kids while being a teacher My life is life neo I am dogging bullet left, right, up and down
Comment from : @changedmind2810