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They say don’t mix money and friends. In my case, I have chosen not to mix money and family any more.
I recently found myself in the situation of having to say no when my parents asked me for a €10,000 loan to fund construction work on a beautiful property in Europe that they’ve been turning into a family-run B&B and wedding venue.
This was not the first time they had found themselves in a tight spot. Four years previously, when I was 23, I’d loaned them €10,000 and had a strenuous time getting paid back.
Hit by the 2008 financial crisis, declining revenues from my father’s business and a credit crunch, my parents have been relying more and more on their kids for financial help. But when they asked me recently if I could loan them the lump sum, I declined.
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