Is lending money to family the right thing to do? Or is it a moral obligation?
Consider the case of Jessie, a 33-year-old who is debt-free, runs her own business and lives comfortably after all her hard work and risk-taking. When her 29-year-old brother, Mark, recently asked her to cover four months worth of his rent, she said no.
It wasn’t because Jessie couldn’t afford it. It was because she’d been down that rabbit hole before.
Still, Jessie insists the decision isn’t an act of selfishness. It’s about establishing boundaries.
According to Lending Tree, 35% of Americans who’ve lent money to family or friends in the past reported negative consequences (1). These include hurt feelings (14%),…