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Personal Finances / Living Below Your Means

URL:  https://boards.fool.com/yes-and-youll-remain-the-poor-folks-in-the-15096092.aspx

Subject:  Re: Everyone has money - until someone needs it. Date:  6/2/2001  8:37 PM
Author:  pekinrobin Number:  150407 of 908875

Yes, and you'll remain the poor folks in the family as long as you hand out $1,500 gifts to any deadbeat who calls you up and asks for it. I too had to learn the hard way. I estimate I handed out $10K before I became seriously ill and learned that those folks I helped out (including relatives) didn't have a dime to help me, nor would they even pay back what they had borrowed so I could take care of myself while I was ill. It was a valuable lesson, because I never could have accumulated what I have today if I had continued to loan money! Nowadays, I have learned that if someone calls looking for a hand-out, I have plenty of excuses on hand -- money tied up with investments, medical bills, new equipment or cars. Hmm. Sound familiar? Maybe one day you will be able to afford to have your own entree at dinner if you learn to be a little stronger and tell the deadbeats, including deadbeat family members, NO. You are not helping these folks by giving them money. You are denying them the opportunity to be the hero of their own lives. Forgive me if it sounds harsh, but I wish someone had told me what I am telling you now.
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