My youngest daughter just passed her driving test - first time, and I am proud of her, but what she did next was impressive.
She went and got herself a loan and used it to buy herself a car.
This was, to my surprise, as per the deal when I got her a pony a while ago. She does equestrian studies at college and loves her pony (Jupiter). I really was not expecting it, after her elder sisters both borrowed a shit load of money and never paid back a single penny. They can hate this post as much as they like, but it it true - they have not paid back anything of the money they borrowed, not a penny.
So I am really proud of my youngest daughter. Well done for not taking the piss and doing what you agreed. I am almost tempted to find the money to buy the car for you, it would be a under tenth of what one of your sisters borrowed. Maybe if they ever pay me back I will. Well done G.
I applaud this post. I have a younger sister who was constantly "borrowing" money from my dad for food, parties, nights out and mainly holidays etc... and never paid any of it back. Frustrated (and still gripes me that she got away with it) the hell out of me when I would save up and never "borrow" money.
ReplyDeleteI wish I knew what the total ran into over the years.
My mother has always insisted we put any family loan agreements in writing, not because we don't trust each other but simply because that way we both know what we expect of each other. For one larger loan she required I take out a life insurance policy which wasn't a bad idea anyway. Where needed, we've renegotiated the terms but we've always stuck to it and it's kept things sweet.
ReplyDeleteAh, the Bank of Mum & Dad. Makes me chuckle. Not sure of the wisdom of getting a loan to buy a car, she may have been better off looking either at finance, or buying a banger and working her way up the ladder of cars that way. Nevermind, her choice :)
ReplyDeleteThat's okay kids...Remember, when I'm old and lost my marbles/continence or both, you are going to be the ones looking after me. So this either all eats in to your inheritance, or the cost of the nursing home you won't be able to afford to stick me in... :-)
ReplyDeleteI have a sister that has borrowed a lot of monies from the Bank Of Mum & Dad. However after receiving a considerable payout from $Dayjob the monies still hasn't been returned.
ReplyDeleteI haven't spoken to her since.
The words family and money should never be used in the same sentence.
Ah long as she got a good deal on the loan and can comfortably afford the repayments its a very good idea. Teaches you early on to respect what is earned and aim to build upon that!
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