We stupidly loaned money to my BIL and his wife. They claimed that they had no money for food. They have a little boy (22 months) which is the only reason I agreed to lend them money. I didn't want the poor boy to have to suffer. We talked to them about being more responsible witht their money and told them this is the only time we will lend you money and you must pay it back. I would have rather had them come and work for us for the money but they live too far away. Anyways, they promised they would be more responsible, pay us back as soon as they could, etc. That was back in February. Yes, February. We have asked several times for the repayment. We don't need the money but feel that they should pay it back because that was the agreement. They keep claiming that they can't pay us yet because they don't have enough money. I get on Facebook this morning and see this status update from the wife.
"$463 dollars later and I am finished shopping for _____ (BIL)!!! He's going to love his Christmas gifts!"
They only owed us $150. As I said the amount is not what is bothering me. They made a promise to repay us and apparently are going to break that promise. I wouldn't be near as upset if that money had went toward bills or even their son's Christmas but for BIL, really?!? He is a grown man. Grrrrr!!!!! Vent over.
Yes, I know it was dumb to lend them the money and we are never doing it again. I am assuming they will never pay us back.
Update: Thanks for all the great advice! I didn't say anything to her or BIL about the money. We do $20 sibling gifts in DH's family. For the next eight years they will get a card saying "Merry Christmas! Instead of giving you a gift, we have decided to take $20 off of the debt you owe us!" We are hoping this will prove our point. No more money will be given to them. I would have just bought food for them instead of giving them money in the first place but they live in another state so that wasn't an option. I'll have to update again after Christmas and let you know what their reaction is! ;)
Sounds like typical irresponsibility of a lot of people now days. I dont understand that....if I owed someone money, I sure as hell wouldnt be posting what I spent money on to the world. Kind of like people who do the whole "woe is me" thing....then go out and blow money.
I dont loan money to anyone...well my adult kids I do occasionally..but they pay it back asap!
And it doesnt matter if you need the money or not. It was YOUR money and they owe it to you! My sister has that concept with money....was really late on her rent, but went on a cruise instead...then said (about her landlord).."well it's not like he's hurting for money...he has all these other rental houses". Who cares...it's still HIS money.
Anyway...I dont blame you for not wanting to loan them money again either. Too bad since they have a baby that they arent more responsible.