Over the years I have known many people that spent too much on a home they bought or a place they wanted to rent. Then something happens to them like a job loss or going to a new job where they made less money and now, they couldn’t make their payments anymore.
Most people probably would say they love and care for their family and friends. Myself I like to solve problems because I don’t like to see anyone suffer. Especially when it is my family or friends. It normally has felt good when I could help them out with loaning people money but then normally those feelings go away and new feelings of pain seem to set in.
Have you ever co-signed on a loan for someone before? If so, how did it work out? I have had many friends that co-signed loans from student loans to personal loans for their kids, relatives or friends and some of those loans they ended up having to pay them off. I co-signed on a couple of loans and they both worked out but at times I lost sleep worrying about getting stuck paying for them. I tell myself I won’t put our family in that position again.