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Old June 26th, 2009, 12:31 PM   #1
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Should I or Should I Not..That is the Question.

My girl friend needs financial help. Wait.. She's not my GF. A female friend I should've said. Anyways, I am thinking of selling my bike to help her out because she has always been there and helped me many times in the pass. Before I went out to shop for a bike I did ask her if she needed help and she told me no so I went out and bought a bike. I think it's time for me to be a little unselfish and sell my bike. What do you think?
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Old June 26th, 2009, 12:32 PM   #2
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You're crazy. There are far better ways to help her out. You'll never see the money again, likely lose a friend in the process, and you'll always be bitter about losingthe bike because of it
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Old June 26th, 2009, 12:39 PM   #3
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If I sell the bike to help her I will not expect her to pay me back. She has helped me financially more than once and never expected me to pay a penny back.
We are like siblings.
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Old June 26th, 2009, 12:40 PM   #4
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It depends on what the financial help is going to be used for. In my opinion it seems like a drastic thing to do in order to help someone you aren't in a committed relationship with.
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Old June 26th, 2009, 12:44 PM   #5
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your only the one that knows if she deserves it or not and who cares what we say or think...
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Old June 26th, 2009, 12:56 PM   #6
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your only the one that knows if she deserves it or not and who cares what we say or think...
True. But I do care what people think.
We, human, don't think straight or have a clear view of what we're doing when we're in the spot light.
Sometimes, the outsiders have a better view.
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Old June 26th, 2009, 01:02 PM   #7
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Old June 26th, 2009, 01:04 PM   #8
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I wouldn't. Sounds like if you need to sell the bike to help her with a small amount of money, you're in no financial position to help her yourself.

If you really want to help her, consider co signing a loan for her. If you both don't have enough credit history to complete that, are you sure you want to be mixed up with her financially?

friends and borrowing money usually don't mix well.

There are much better ways to support friends than to help them financially.

may I ask what she needs the money for?
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Old June 26th, 2009, 01:05 PM   #9
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True. But I do care what people think.
We, human, don't think straight or have a clear view of what we're doing when we're in the spot light.
Sometimes, the outsiders have a better view.
I agree about asking an opinion from another but make sure they can make a decision based on what they know about the person also.
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Old June 26th, 2009, 01:06 PM   #10
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Quote:
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If I sell the bike to help her I will not expect her to pay me back. She has helped me financially more than once and never expected me to pay a penny back.
We are like siblings.
So............would you do this for your brother or sister??? I would. You say she's like a sister and has helped you more than once. If there is NO other way for your to help her financially than selling your bike...........well, bro, you know in your heart what the right thing to do is. Family is once in a lifetime; bikes come and go.
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Old June 26th, 2009, 01:17 PM   #11
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.....this can only end badly.
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Old June 26th, 2009, 01:17 PM   #12
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Material things come and go. I'd say it really depends on how much you value her and how much she really needs it. Also it depends on why she needs it.
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Old June 26th, 2009, 01:22 PM   #13
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Look at it this way. If you sell your bike and give her the money she won' be a friend any more (never lend a friend money).

Is she a friend with benefits? That way you're just paying for them benefits.

How much does she need? Is it more or less the same amount of benefits. If it is more she still owes you some future benefits. If it is less, then call it even.
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Old June 26th, 2009, 01:24 PM   #14
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If I sell the bike to help her I will not expect her to pay me back. She has helped me financially more than once and never expected me to pay a penny back.
We are like siblings.
Read people.
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Old June 26th, 2009, 01:31 PM   #15
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uh... even he can't tell if this girl is his GF or not. if they are friends w/ benefits, how can she be like a sibling? He needs to think with his head... not his head.

we can read... I just think there is more to this and I am reading ... between the lines.
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Old June 26th, 2009, 01:34 PM   #16
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Sounds like if you need to sell the bike to help her with a small amount of money, you're in no financial position to help her yourself.
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Old June 26th, 2009, 01:45 PM   #17
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uh... even he can't tell if this girl is his GF or not.

Nooooooo; he didn't say that (or Ididn't read it that way). He said she is his girl friend (notice the separation between the two words). I was thinking that he added the clarifier (Wait....she's not my GF) for a clearer understanding on our part.

Does that make sense?
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Old June 26th, 2009, 01:52 PM   #18
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Get some sleep, get off the drugs!
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Old June 26th, 2009, 01:56 PM   #19
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Get some sleep, get off the drugs!
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Old June 26th, 2009, 02:50 PM   #20
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financial advice lol How much do you think you have borrowed and not paid back? Is she requesting more of less than that amount? How can you help her if you have to sell your bike to give her the money? My advice would be to get a part time job for cash and give her the proceeds (mow lawns or something) until your debt is repaid. You know how much you owe her. Make it square. Friends come and go. Its a fact of life. If she isnt your gf do you think when she gets married to another guy that you are going to remain close? Clear your debt with her any way you see fit. Whatever you do, DO NOT have this equasion turned the other way because you will never see the money. I hate it when others owe me money. I have lost more than a few friends over money. Make your peace with her by making things all square again and you will sleep well at night.
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Old June 26th, 2009, 03:00 PM   #21
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Thanks everyone for your honest opinions.

Let me fill in some more details.

She's a single mom with 2 boys. Since the summer is here she decided to enroll them into a summer program because she doesn't have anyone to look after them. The cost per kid is about 3k. She had no choice and took a gamble. She enrolled them and paid the first installment. The 2nd is due next month and she will not have the money to pay for them. She didn't come to me and ask me for the money. We were talking and I asked about the kids so she told me her situation.

I have 3 options.

1. sell my bike

2. use my saving

3. borrow from my 401k

I think selling my bike is the best option and here's why.



My bike, just like everything else I've owned, depreciates over time.

Saving grows over time.

Same goes for 401k (may not be true for everyone but mine is growing at a minimal rate).



If I use my saving:

What if I lose my job. Although my job is secure, however, you'll never know. In today's economic crisis anything is possible. I will have 2 options if I lose my job. Sell my bike or use 401k. My bike wouldn't worth as much as it would now. If I use the 401k I will still have to make monthly payment + interest. The interest doesn't really matter cuz it will accumulate into my acct. But how will I be able make monthly payment toward 401k on top of everything else if I don't have a job.



If I use my 401k:

I already have payments that I need to make every month. I don't want to tag on another.

I will also have to pay a panalty. Plus I want to use it to make a down payment on a house in a few years.



If I sell my bike:

The bike is something extra that I don't really need. Eventhough I enjoy riding and learning about it I really don't need it. It's not like I need it to get to work or around town. I can get the most for the bike if I sell it now. I can always get another in a year or so. The worst part is no riding this summer. I will also have the saving to fall back on. If I lose my job I can probably live off the saving before I find another job.



I also have another option. I doubt that I will excercise this option because time is running out. If my bro has side jobs I can make extra money working with him.



I think I know what I have to do. I just wanted to hear what your thoughts are.

It's always good to hear from others.

Oh. Thanks Deb for clarifying. She's not a girlfriend. She's like a sister (how's that?)

Thanks again.
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Old June 26th, 2009, 03:05 PM   #22
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Depends. Is she specifically asking you for money or are you simply volunteering to give her money? How dire is her need for this financial help? Will mobster come to her house and take her fingers if she doesn't pay?

To be honest, I wouldn't do this....not even for my family....not unless I knew exactly what they were getting into, and exactly how they'd be using this money to get out of it. You could very easily get pulled into her mess and end up in a financial quagmire yourself.

If shes asking for it....then you have to ask yourself: would someone that actually cared about you put you in a position like this?

In the end its your decision, but be careful.
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Old June 26th, 2009, 03:07 PM   #23
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financial advice lol How much do you think you have borrowed and not paid back? Is she requesting more of less than that amount? How can you help her if you have to sell your bike to give her the money? My advice would be to get a part time job for cash and give her the proceeds (mow lawns or something) until your debt is repaid. You know how much you owe her. Make it square. Friends come and go. Its a fact of life. If she isnt your gf do you think when she gets married to another guy that you are going to remain close? Clear your debt with her any way you see fit. Whatever you do, DO NOT have this equasion turned the other way because you will never see the money. I hate it when others owe me money. I have lost more than a few friends over money. Make your peace with her by making things all square again and you will sleep well at night.
Honestly, I don't care much about the money or if she'll pay me back or not. I can tell you that she has helped me more than I've helped her. The toughest thing for me to do is not be selfish and sell my bike. I am human and selfishness runs in all of us. The reason I'm posting this is because I wanted you guys to take the selfishness out of me. I know that I'm selfish from time to time but I think this is not the right time to be selfish.
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Old June 26th, 2009, 03:15 PM   #24
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People that have kids, and cant take care of them.... freaking crack me up!
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Old June 26th, 2009, 03:21 PM   #25
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Honestly, I don't care much about the money or if she'll pay me back or not. I can tell you that she has helped me more than I've helped her. The toughest thing for me to do is not be selfish and sell my bike. I am human and selfishness runs in all of us. The reason I'm posting this is because I wanted you guys to take the selfishness out of me. I know that I'm selfish from time to time but I think this is not the right time to be selfish.
I don't believe this is really an issue about whether or not you'll be selfish. You gotta be smart when it comes to this stuff. You may have the best intentions in the world, but money is like drugs to some people. You handing over cash would make you an enabler...perpetuating their problem instead of helping them solve it. I'm not saying that your friend is necessarily some kind of irresponsible individual or whatever...you know her and I simply don't....but these are the types of factors you must consider.
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Old June 26th, 2009, 03:47 PM   #26
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Don't you watch any of "Judge Judy"???!!!!!! Its a recipe for disaster all way round!... You are taking this on like it is your family and responsibility... help is one thing I'd be payin her back what you've taken from her.. but more than that... ohhhhh no my friend keep that bike at least its a guarantee.. the other presents none.
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Old June 26th, 2009, 04:00 PM   #27
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Sell the bike and loan me $1000 I have 2 kids and they need day care yada yada yada. I could ask my mom to watch them during the day, but this guy has a motorcycle that he will sell. I havent even asked him for the money but he thinks im HOT and hes stupid enough to give it to me.
Hope this isnt you DUDE Good luck.
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Old June 26th, 2009, 05:40 PM   #28
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If I sell the bike to help her I will not expect her to pay me back. She has helped me financially more than once and never expected me to pay a penny back.
We are like siblings.
It's a good idea to give friend/family money. It's a bad idea to lend friends/family money.

Also, only give money that you have. Try working an extra job and giving her that, provided that it is not an emergency.
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Old June 26th, 2009, 05:51 PM   #29
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or help her find a more reasonably priced child care solution - like the teenage girl down the street who doesn't have a summer job because college grads are forced to work at McDonald's now
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Old June 26th, 2009, 06:11 PM   #30
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What do you think?
No.
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Old June 26th, 2009, 07:41 PM   #31
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Only you can really determine the situation. The majority of people are extremely possessive over money (it's our way of life, you can;t blame them), so your going to get a lot of negative responses.

Personally, me and my friends give each other money all the time. I've paid a few thousand for a friend to be able to go on a trip with us one time when he was doing really bad financially. He a good friend that I have known a long time, and for me that's what friends do for each other. Over the past few years I have just made him pick up my tab at the bar. Is it even? No, not even close, but whatever, he's a friend and it's only money, I'll earn more.

It all depends how you feel and how good of a friend you think she really is. I have 2-3 friends I would do it for (given that the money isn't being used stupidly).
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Old June 26th, 2009, 08:06 PM   #32
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I wouldn't. Sounds like if you need to sell the bike to help her with a small amount of money, you're in no financial position to help her yourself.
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People that have kids, and cant take care of them.... freaking crack me up!
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No.
+1 on all these.
I know a coworker, single mother, 3 kids, works part time, and gets by fine without needing help. Like noche said, find her a cheaper babysitting service. I hate to pull out a quote on this one, but the only things worse than favors are favors involving money.
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Old June 27th, 2009, 12:28 AM   #33
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How old are these boys? 3k each? Doesn't your state have some type of program that helps pay a portion of childcare if all legal guardians work full time?

I wouldn't do it. Offer to help her find some cheaper childcare and if at that point its still a little too much money you can probably help her out without selling your bike/dipping in 401k (bad)/touching savings (also bad)

Its all up to you though.
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Old June 27th, 2009, 12:44 AM   #34
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No question about helping out someone.,that is a given yes but..


Never sell a bike for money --
unless your kid or spouse is in the hospital or sick

I repeat never sell a bike for money.
You will have pissed your bike away and then be bitter.
TRUST ME on this one.
If you want to help then pull savings or get some extra work.
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Old June 27th, 2009, 12:45 AM   #35
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Hell no.
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Old June 27th, 2009, 09:19 AM   #36
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Hmmmm

Ok, I have seen for and against here. My .

You said she is a friend that has helped you out in the past. She sounds like a really good friend and those are hard to find. A saying I heard in the past, you pick your friends, you don't pick your family. The way I am reading, she has not asked and you are offering to help, you are not expecting to be paid back.

I hate to say it like this, but, your call. I think you already know the answer and you just want confirmation that you are making the right decision and you value other opinions. Once you decide, you will know if it was right, whether or not you regret it. My wife is fond of saying let fate decide, post it on CL and see how you feel when you get an offer. If you have a feeling of extreme regret then you have your answer. You can always reject the offer and pull the ad. What would I do? Can't say, never been in that situation.

(in response to a previous post)
As far as a single lady with 2 kids and can't afford them, it has happened before and will happen again, happy couple gets married, happy couple has kids, mom stays home and raises kids instead of having them raised by a nursery, daddy is not so happy cause momma has had 2 kids and is not as attractive as the sexy young lady that he met on the business trip to Argentina. (I grew up in SC, and still a resident/registered voter, so I am allowed to make fun of this one) Dad leaves mom and the kids and only gives the alimony/child support that the court has told him while he wines, dines and woos the sexy young lady.



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Old June 27th, 2009, 10:01 AM   #37
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I wonder what the OP will sell next summer?
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Old June 27th, 2009, 05:34 PM   #38
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Dear Forum,

I'm feeling a little light in the wallet do to excessive spending on myself. If I could ask all of you to help support me until Obama can get me on the govenment bandwagon it would be nice. Although I won't be anyones girl friend, that is unless there is jail time in my future, I will be your friend and still make fun of all of you on the forum.

I'm not asking for much (from each of you) but I believe that collectively this forum's membership could support me in a rather fashionable life style.

This is not like my birthday (where you guys really didn't accomplish the desired goals). This is for life. Besides, I have two kids that want everything imaginable. Think how you could help them too.


I'm not going to pay anyone back however; if you want me to lie and deceive you I will be happy to tell you I will just to make everyone feel satisfied.

The beginning of the month is this coming week and the bills will be coming in so lets not dillydally about the funds.

Sincerely,

O.A.
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Old June 30th, 2009, 02:56 PM   #39
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O.A. you have a great way of putting things into prespective.
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Old June 30th, 2009, 07:18 PM   #40
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