Mother wants to borrow 10k in my name, since she can't get a loan anymore due to bad credit history...

Mother wants to borrow 10k in my name, since she can't get a loan anymore due to bad credit history. She says she will be repaying it every month for 5 years (length of loan).
She was never good with money, but at the same time you could rely on her for other things. Do I just tell her "no"? Will probably break the relationship for good with her but I'm not willing to become a debt slave for the system either.

what does she need a loan for?

This is why you never tell anyone about your gainz.

Tell her to fuck off.

do you know why she needs 10k

no you fucking idiot.

>getting a loan from an American (((bank)))

>Needs to get out a loan in his name

It depends on what she needs the money for. If it to "survive", then yeah. if it is to buy materialistic things, then nope.

This 10k is alot
Eugh I need a new car

i wouldn't

I never told her anything, in fact I have the money to pay it off for her but I won't be doing that because then she will know I'm not a poorfag and ask for more.
Moving house, she needs it for deposit and other shit like fixing the new place, new furniture, etc.
Probably will desu.
I'm in EU, same shit though.
It is to survive in a sense, but I feel she will survive without it.

No.
She ruined her credit, she has to take responsibility for her mistakes - including you.

yeah nah.
She can save for that, Or live with ugly furniture until she can afford new one, like any normal person.
If it was something she absolutely needed, sure, but she wants to buy luxuries she can't fford hence why she has a bad credit history.
I would say no to mine, and I love her very much.

tell her you got the loan and give her the 10k from gains? kill everyone in this thread and no one will ever know

Go for it. I've been in your mom's position myself, albeit when I was in my mid-20s. Was fucked by credit card debt, worked a shit tier job, until I finally caved and asked my dad to refinance my shit. I've paid down the entire thing, and as a result I've increased my net worth by almost tenfold.

If she's coming to you, that means she's in desperate need of this. This might be her way out of whatever shitty credit she's got.

Fucking help your mother you greedy ass. If you can cover 10k easily you should normally give it to her for fucks sake. She just wants a loan you dickhead.

I you really want to help her calculate exactly how much she needs, down to the penny. No more no less. Don't give money to buy fucking furniture just help out on shit like fixing the place up. She probably says she need 10k but actually only needs 5k.

If you can afford it, as in losing 10k won't ruin you, then go ahead. Just make sure that you get it in writing and have a legal claim of 10k if she tries to jew you. Never underestimate the power of money, it will easily turn family members against each other.

Never loan to friends or family unless you are ok with them never paying you back. Sounds like a meme but it's true.

t. OPs scumbag mom

Also 10k isn't a lot to spend on your mom if she isn't a piece of shit.

This is solid advice, esp. the stuff about the written stuff. It's amazing what some people are capable of doing when it comes to money.

You're right. If she wanted me to be more compliant she should have raised me differently. Unfortunately I was raised to look out primarily for myself first and foremost.
Thanks mate, makes sense.
I'll think about this.
Food for thought I guess, thanks.
I know how normies work. The reason why I was successful in my gains is I never told anyone apart from Veeky Forums my net worth. She thinks I'm currently scraping to get by.
Sounds good I suppose.
It is. I had multiple cases with this already.

Just fake it, do as if you are going to get a loan, and just give here the money without she knowing you are rich as fk

This. I have had cheap or free furniture for over a year when I moved out, even now much of it is what I got from family who wanted rid of it. Furniture is a ridiculously bad deal when bought new, even worse than cars. You can buy a solid wooden dinner table for €1000, take it out of the store and you'd be lucky to fetch €200 for it. I look on the Dutch Craigslist a lot, it's pitiful how many poorfags write ads as "really really new, barely used! Cost me €1000 so I want at least €800 for it" and you only see bids of 100-150. Often these people are the kind of retards who buy new furniture every 5 years and complain how hard it is to save money. It has always amazed me how the people who can miss money the least splurge the most. I know wealthy people who'd be able to afford more furniture than they could store and they'd just take a sander and put a new lacquer on it if they got bored with it. You don't get rich by squandering money ffs

If its really a "loan" have her put it in writing in a legally enforceable contract to let her know you mean business. Offer her 5K at zero interest. If she never pays you back you have solved your deadbeat mother problem cheap. If she does you've done the right thing. I did this with a deadbeat family member and I rid myself of them for good because I can always point to the loan they never repaid and deadbeats always need more as they age. Get out cheap while you can.

Do not let her take a loan out in your name. This is bad fucking news. At the very most, agree to guarantee or cosign on the loan. Do not allow her to walk away without her name on the loan.

If you are not worried about revealing a small portion of your gainz, tell her that you can loan her the money yourself. But make sure it's a loan. Set a term, interest rate, minimum payments etc. Get all that documentation notarized.

If you are willing to really stick your neck out for your mother, offer her the loan plus enough to refinance. Again, as a loan.

You are exactly on point. Money comes from making it yes, but also from knowing how to save it up. All those small useless things add up over time, this is literally why 90% of the population is poor or worse.

>agree to guarantee or cosign on the loan
Really no difference. He's responsible if she defaults in either case. Pointless.

Exactly. I have friends who earn almost twice what I take home and they succeed in saving less than I do. And even I still have a lot of points to improve on.

It's absolutely painful to watch good friends get a new comfy job, taking home very decent amounts of money and the first thing they do is having a new kitchen installed with all the meme options, leasing (!) a car at €350/mo and booking 2 vacations. Sure, live a little, but this is just obscene. I save almost half of what I earn. Food is cheap, mortgage is cheap, ffs I really don't get what's so hard about this.

Are you fucking 12?

No. Are you? Fucking moron.

Best to 'loan' her with your gains and simply take repayment while making her assume it's a real loan. Do not expect to get a cent of it back, as the meme goes

He's not wrong though. Of course there's a difference, but in the end the result for OP is the same: he has to pay the loan

Yep, same here. My friend earns a decent wage, but got a ps4 pro one month (barely plays it), new google phone the other, new wardrobe, then 2 months didn't spend anything and a new fucking car. Like what the fuck are you doing? I only spend money on good food, because I need my brain to work well and have optimal energy levels when I do the trading. The less possessions I have the better I feel too because I spend my time with people or reading or just something useful. I have a pc when I feel I want to play some games too, that's all I need really.

"If I don't agree to loan mummy money she won't talk to me every again"

Wow she sounds like she has a bright future

Even then, the buying is one thing. As wasteful as it may be, they're one-time costs. I swear, some people are like; "I have 2k/mo, of which I can spend 1200, so that means I can run up monthly expenses to about 1k"

Private lease car: 350/mo (lives literally 100m from job)
Mobile phone contract with phone included: 50-70/mo
Various stupid services with monthly fees like Spotify and sports television: 50/mo
Gym contract: 20/mo

And that's only the things that are automatically deducted each month, excluding shit like;
Buying prepackaged food and premade shit every fucking day: 300/mo (not even shitting you)

etc etc. If you ever go into a rough period, you have nothing, only bills. I mean, stupid bought shit doesn't have running costs, you can sell them off if need be (at a hefty loss, but still). Can you imagine how royally fucked you are when you have a 500/mo mortgage and the shit I listed (ca 500/mo) if you get fired or whatever whilst having zero savings? You'll be swamped by debt collectors before spring arrives.

$500 mortgage? Are you 12 years old? Jesus Christ this board.l

€
Plus you can deduct mortgage interest in the Netherlands

kek'ed at '12 years old' btw

>She thinks I'm currently scraping to get by
If you give her 10k you break that status quo and enable her to milk you for money.
She will keep pulling this shit till end of her life.