Lovingly Limiting Loans: 10 Wise Ways To Set Money Boundaries With Family

Family ties are undoubtedly some of the strongest bonds in our lives. We share laughter, create lasting memories, and support each other through thick and thin. However, navigating boundaries can be complex when it comes to financial matters. Here are 12 wise ways shared by members of an online forum to set monetary limits with family members.

1. Establish Clear Boundaries

Man talking to another man
Image Credit: Shutterstock.

A user shares that despite being “very, very hard,” the best thing to do is keep a precise budgeted amount. If you’re asked to provide a loan, be stern about the loan terms and when you expect to receive it back.

2. Staying Lowkey

Woman zipping her mouth
Image Credit: Shutterstock.

Maintaining financial stability doesn’t mean you should flaunt it. Another user wisely suggests not disclosing your money situation to any family members. Even if you know they want the best for you, it won’t be long before those loan requests flood in.

3. Conditional Lending

Man lending money
Image Credit: Shutterstock.

A forum member recommends a conditional approach if you lend money to a loved one. They state only to lend money once the previous loan has been repaid. This way, you establish a precedent of responsibility and accountability.

4. Buying Instead of Giving

Woman surprised on getting groceries
Image Credit: Shutterstock.

One suggests a practical alternative: if your family members need assistance, consider buying essential items for them instead of handing out plain cash. For example, you could pay for some of their necessary groceries. “Free money is more addictive than drugs themselves, in my opinion,” they comment.

5. Gifts Over Loans

Woman getting gift from family member
Image Credit: Shutterstock.

Reflecting on their experiences, a member advises never to lend to family, only to give what you can. This approach can alleviate the stress of asking for it back. If they choose to repay, it’s a pleasant surprise, but if not, it won’t strain the relationship.

6. Give What You Can Afford

Man shrugging don't care
Image Credit: Shutterstock.

Now, the previous advice doesn’t mean you keep on giving until your bank gets empty. One member shares, only providing what you can afford not to get back. You might end up loaning a family member the significant savings you were keeping for your dental work, only for it to vanish.

7. Resource Guiding

Volunteers Collecting Food Donations
Image Credit: Shutterstock.

One recommends directing family members in dire need to resources like 211.org, which helps individuals and families find food, pay bills, and secure housing. You can support them through their journey of finding suitable funding for themselves rather than being broke yourself.

8. Secure Yourself First

Man saving money
Image Credit: Shutterstock.

Think about it: What’s the first thing they teach you on an airplane? In case of an emergency, secure your oxygen mask first! Why? Because you will not be able to help anyone if you suffer. Ensure you have an emergency fund, retirement savings, and minimal debt before offering financial assistance.

9. Small Acts of Kindness

Woman filling gas tank
Image Credit: Shutterstock.

Sometimes, it’s the little things that count. Consider taking a thoughtful approach by being kind financially in your everyday life. If you’re borrowing a member’s car, fill their gas up. Small, frequent acts of kindness can make a significant difference and demonstrate your love and support. This way, you won’t be considered stingy when you refuse to lend.

10. Learn To Say No

Woman saying no
Image Credit: Shutterstock.

Lastly, this is the most important thing to learn. A forum user shares a valuable lesson: “‘No’ is a complete sentence.” Being comfortable with declining financial requests when necessary without any guilt is crucial. While it may be difficult, saying no is essential for your long-term financial health.

Source: Reddit.

10 Things People Hated When They Were Younger But Love Now

shutterstock 1077765302 1 scaled Photo Credit: Shutterstock

Discovering new likes and preferences is a natural part of the human experience, and as we grow older, our tastes often evolve. What once seemed unappealing or uninteresting in our youth can surprisingly become sources of joy and appreciation as we mature.

10 Things Boomers Loved Before the Advent of Smartphones Changed Everything 

shutterstock 1156172839 scaled
Photo Credit: Shutterstock.

In the fast-paced digital age, we find ourselves in today, it’s almost impossible to imagine a time when smartphones were not an extension of our daily lives. These pocket-sized devices have revolutionized how we communicate, work, and navigate the world. At this point, technology will continue growing and becoming a permanent fixture in our lives. Still, there is a growing sentimentality and yearning for the simplicity and authenticity of the bygone days. The era before smartphones, often referred to as a simpler time, holds a special place in the hearts of many.

10 Surprising Things Women Do Better Than Men

Depositphotos 80150956 XL Photo Credit: Deposit Photos

Throughout time, there have been debates about the superiority of one gender over the other. However, whether women exceed men at specific tasks has been a common conversational topic. The following is a list of things women are better at than men, based on opinions shared by different people on a popular online forum.

13 Underrated Life Skills Everyone Should Know That May Improve Your Life


Photo Credit: Shutterstock

Specific life skills often go overlooked in a world that increasingly emphasizes academic achievements and professional success. While traditional markers of achievement like degrees, certifications, and job titles hold their importance, a set of underrated life skills can significantly enhance our daily lives and help us navigate the complexities of modern existence. Often overshadowed by their more glamorous counterparts, these skills are the unsung heroes that empower us to thrive in diverse situations, build stronger relationships, and cultivate personal well-being.

10 Essential Things No One Pays Attention To, But Should

thinking woman Photo Credit: Shutterstock

In the whirlwind of modern life, we often find ourselves consumed by the pressing demands and distractions surrounding us. Amidst this chaos, essential aspects of our lives often slip through the cracks of our attention. These are the overlooked gems, the vital elements that hold the power to impact our well-being and the world around us significantly.

This article was initially published and syndicated by The Cents of Money. 

Leave a Comment