You're putting him in a bad position because you are taking contradictory stances. On the one hand, you don't want to give up your dream and feel that you would miss out if you did because of the expenses. If you did you would come to resent him for it on some level. On the other hand, he is offering you the means to live your dream but you are refusing it for fear that it would put him out. You are in no position to regret losing something that he is trying so hard to give you (and can afford to give you). Are you afraid that he will resent you for it later?
Your insistence at paying him back treats his offer not as a gift but as a debt. That does not seem to be the way he sees it at all. By calling your relationship a partnership, he sees the money as an investment in both of you, not as a loan to an outsider. If he believes it will make you happy and give a future you want, he will want to give you the money for that reason. And if he doesn't have immediate need for the money, he is not giving up his dreams by giving it to you.
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As nice as this all sounds, you may not realise this, but in time you may resent him for it (subconsciously).
Something else he may not realise either. On one hand his actions may seem attractive (subconsciously) because it shows he can provide, but on the other hand you have not earned such a gift ( I assume) if we are talking 5K of his hard earned cash.
It's possible that somewhere within, you do not feel that you truly deserve it, or have earned it. Therefore it seems naive and even potentially irresponsible for him to offer you that money.
Obviously I'm looking at this from a purely, cold and non romantic way, but think about it.
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If he says he wants to do it, let him
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