Got a tough love and money question? Email us at firstname.lastname@example.org.
"My sister asked if she could borrow $500 to help get her through a tough time. Part of me wants to lend her the money from my personal account so I don't have to deal with my husband complaining about how my sister is bad with money. But the other part of me is tired of being put in the middle all the time. Either way, someone ends up mad at me."
What do you think?
I hear you, this is a tough spot to be in. Glad you're trying to find a better solution than maintaining this status-quo. The thing is, family and money is never just about lending someone money, it can come with so many nuances and problems that we can't forsee until they find a way to rear their heads.
My hot take - if you and your partner aren't 100% aligned on how you should spend your money, rather than trying to spend hours (years?) trying to find a compromise, why not agree to set aside a certain amount of money each month for each of you to use as you see fit. If you decide that lending your sister money is what you'd prefer to do with your personal pot of cash, then go nuts. That way, you don't have to stress about your partner's feelings and you can own the relationship with your sister directly, which is also more fair to your partner IMHO.
That said, lending family money isn't without it's complications - for one, I often encourage folks to think about lending money as an outright gift. That way, you're pleasantly surprised if you get it back but not crushed if you don't. It's when you lend money you can't even afford where things get nasty. But that's for another day to dive into!
A newsletter designed to help
you achieve relationship goals.
A newsletter designed to help you achieve relationship goals.
To safely consume this site, we recommend reading this disclaimer. Any outbound links will take you away from Zeta, to external sites in the world wide web. Just so you know, Zeta doesn’t endorse any linked websites nor do we pay/bribe anyone to appear on here. Any reference to prices on the site are just estimates; actual prices are up to specific merchants and their current desire to charge you for things. Also, nothing on this website should be construed as investment advice. We’re here to share our favorite tools, tactics and tips for managing your money together. This content is for your responsible consumption. Please don’t see this as a recommendation to buy specific investments or go on a crypto-binge. Lastly, we 100% believe that personal finance is exactly that, personal. We may sometimes publish content on this website that has been created by affiliated or unaffiliated partners such as employees, advisors or writers. Unless we explicitly say so, these post do not necessarily represent the actual views or opinions of Zeta.
Zeta Help Inc. is a financial technology company, not a bank. Banking services provided by Piermont Bank; Member FDIC. All deposit accounts of the same ownership and/or vesting held at the issuing bank are combined and insured under an FDIC Certificate of $250,000 per depositor and up to $500,000. The Zeta Mastercard® Debit Card is issued by Piermont Bank, Member FDIC, and can be used everywhere Mastercard is accepted.
Zeta Account Annual Percentage Yield (APY) is effective as of 12/01/2022. Minimum amount to open an account is $0.00. Minimum balance to earn APY is $0.01. Interest rates are as follows: 0.48% APY applies to balances over $0.01. Accounts with qualifying direct deposits are eligible for up to 1.93% APY. Rates may change after the account is opened. Fees may reduce earnings.