Reply to Would you co-sign or lend money to a family member?

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[quote=Anonymous]My husband and I each come from immigrant families (mid-1930s) from different countries.  Oddly each family had the same practice.  Each wage earner put 1/2 (my husband's family) or 1/3 (my family) into a mutual "pot" for disbursal to family members who were less fortunate or who were experiencing financial hardships. It didn't matter if you were single living at home or if you were married with kids living out of the home, you put the stipulated fractional amount into the pot each time you got paid.  The head of each family kept the funds and distributed them.  This practice continued up through the 1990s for one family and the 1970s for one family.

So in answer to your question, OP, yes, my husband and I frequently give money to family members.  If they insist then we frame it as a loan.

I think your housekeeper/nanny (I've forgotten which) is doing exactly what we would do with her co-sign agreement for her niece.  It sounds like the niece has a pattern of upholding her agreements with her aunt and some things you need to do on trust.[/quote]

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