Are you a loser if you still need to borrow money at the age of 40 because you are tight for money?

Question

BoopBoopBeep · Accepted Answer

Depends on what and why and how often.

There's a big difference in being at the coffee shop that only takes cash and you're short so you borrow from your coworker to the guy that always asks the coworker to pay for their meal. I borrowed 12 or 15k from my mom a few years ago for some new picture windows because I didn't have anything in my brokerage account that qualified for long term capital gains tax rate for another 2 months and I wanted the windows done before storm season came through. Paid her back when the 2 months was up and could take stuff out at the lower tax rate. She borrowed 25 from me once for... something... I don't remember. 401k loan? No I don't remember. I've leant ex's 10, 15, 25k at various times for various endeavors. They weren't losers the just knew I had more investable capital than them. Now for the non-family loans there was paperwork drawn up and minor interest to satisfy the IRS, but stuff comes up, "life gets in the way" as it were, and I don't think that makes the other person a loser.

If it happens every month, or they don't make right the loan, yeah then they are.

MrOracle · Accepted Answer

I wouldn't go that far, but you should be saving 10% of your net income as an emergency fund. If your car breaks down unexpectedly, you have a medical emergency, a household repair pipe burst, etc.), or you lose your job, you have some cushion. This money should never be used for discretionary spending - wanting a new outfit or wanting to book a room with an ocean view on your vacation aren't emergencies, nor should you refrain from routine maintenance expenses with your 90% - it should be strictly for real emergencies.

If everyone did this - and nearly everyone COULD - they would almost never be in a position where they had to borrow money.

Yes, it might mean sacrificing a few take out meals or other luxuries, but it definitely can be done.

Pinay_ako · Accepted Answer

You’re not a loser if you borrow money because you’re tight for money especially if you’re working your ass off but you still can’t make ends meet and you got mouths to feed! As long as you have intentions of paying it back to the kind person who loans you even if they don’t expect you to pay back.

LaFemmeFatale_1 · Accepted Answer

Lesson 1: Never call yourself a loser  Not even jokingly,  Not even if you think you are.  Never.  You are not a loser.

coachTanthony · Answer

I would imagine you're just bad with money or have issues with addiction.

kylee2437 · Answer

It really depends on the reason.

BadApple69 · Answer

Depends on what that person needs the money for. I would agree if they always want to barrow $10 or $20. That would show a lack of money handling skills, and yes, probably a loser.
on the other hand…. a dear friend borrowed $40k off of me to buy a studio in NYC. The amount of the down payment is 1/2 the cost plus the board needs to approve your purchase and for that to happen they want to see 2 years maintenance just sitting in your bank account. That’s $1200 a month times 24. NYC is a ridiculous place to live.
I don’t consider my friend a loser.

WhiteSteve · Answer

Not necessarily. I just lent a friend $1,000 because he recently finalized a divorce and is waiting for his divorce settlement money. Life is tough, unexpected expenses can come up, or expected ones can still snowball and become overwhelming. I’m sure it took a lot for him to even ask me, and we’ve been boys for over 25 years, so since I had it to spare, I had no problems lending it. If you’re constantly doing it, and/or are blowing your money on dumb shit instead of your necessities, that’s maybe a problem, but just getting behind and needing a hand is totally understandable. I’ve been there myself plenty of times.

LiamJHayden · Answer

Not necessarily. Sometimes the unexpected happens. The  average  age for medical bankruptcy, for example, is nearly 45.

rigmarole · Answer

That's pretty much how the system is designed... As life progresses you buy more shit and become more indebted. Home mortgages, car loans, student loans, credit card debt, medical bills, etc. pile up. Almost every "homeowner" had to borrow money just to have a roof over their head... The majority of 40 year old adults are home owners. So pretty much every 40 year old is asking someone to borrow money...

ohsheeT · Answer

The reason why they have Banks the reason why they have Dollar tree and all these loan places is because it happens to the best of everybody something happens you're not prepared for and you need money fast it doesn't make you a loser it makes you smart because you're taking care of your business you have to do what you have to do and you're doing it no the answer is no

TheSpaceGnome · Answer

No because you could have millions of dollars and still need to barrow money for business reasons. That technically counts as being tight for money, because despite being rich, the expenses are just as high.

Now that is an extreme version, but I wanted to make the point that it matters WHY a person is barrowing money.

Nick1976G · Answer

I think it depends on the situation. Are you ALWAYS borrowing money or is it a one-time thing? Is there a specific reason you need the money, or something frivolous that isn't really a necessity?

If it's because you can't make ends meet and you're always trying to borrow... maybe it's time to start looking for a better paying job... or a second job.

If you had a major unexpected expense come up and need help this one time, that is certainly understandable.

Meropatrick · Answer

It depends how was ur life. Were u a bum or u worked hard and extraordinary things happened that ruined u financially. There r many context that leads a person to such a place. We know life ain't fair but sometimes people can act like losers and thats what leads them to be financially dependant at 40

Kacka · Answer

no, u not loozer, our world simply controlled by mane of them🤣🤣its our reality, world is set, made that way, u, me , we are bottom class, we are people who pays for everything, money shortage is planned, if everyone wouldhave millions, who would work in industires that must stay.

Miss_Pretty · Answer

I wouldn't say your a loser, just that you don't have the skills to manage money. Just remember, you are the only one thats holding you back from changing. U can do or have anything u put your mind to. It just takes determination and commitment.

stepyo99 · Answer

You're not a loser if you borrow money, you're a loser if you don't pay back the money you borrowed.

Unless it's money you borrowed from a bank or the government, then you're a Chad if you don't pay those cocksuckers back.

Anonymous · Answer

Everything is relative. I think it depends what you're borrowing it for as well. My sister borrowed 25 grand from me to finish paying off her house. She didn't NEED to borrow it. But I had it to loan and it saved her money paying it off early. Also she paid me back in interest (her idea) so we both benefitted.

I consider my sister equally as successful as me overall. In many ways more, in many ways less.

Drumlin2001 · Answer

Depends. If for a specific purpose (house/car etc), or in an emergency. But if just for day to day living, you'd hope they would have had it figured out by that age

Anonymous · Answer

You can't just put money in your bank account for a co-op board to approve you, it has to also have been there for a long time, usually 3 to 5 years. They're looking for stable people, not just someone who can pull off a hat trick.

madhatters4 · Answer

needing to borrow money doesn't necessarily make someone a loser

WanderingLoveWizard · Answer

Absolutely not. By the way, do you have a few bucks I can borrow?

Walt832 · Answer

Money management.  At this age you should know better.

April_love · Answer

I think you should of been at the age where you save and you budgets or you hit rock bottom I don’t think you should lend money out let them learn hard way

Josephiiina · Answer

No, you're not a loser. Life is hard and full of unexpected turns

Anonymous · Answer

What ever it is that you do, if you think that it makes you a loser then that is how you will feel.

Fireguy17 · Answer

No. It is very hard to buy a vehicle or a house or any other nature purpose.

Wonderingguyy · Answer

If you’re still working and earning even a bit of money you aren’t a loser

exitseven · Answer

If you make it a habit and don;t pay people back you are.

DrKrieger · Answer

It'd depend on circumstance. If they risked it all and failed - I wouldn't berate them. However, I see no issue with calling a heroin addict a loser

Minahh · Answer

You can end up in a pretty bad situation without your fault like if your company went bankrupt but if you are lazy then yeah you're a loser I guess.

Lokiion · Answer

Depends on the reason give me an example and I’ll answer

Abdulwahh · Answer

Truth is many people make mistakes throughout i woundnt say they losers some learn late in life let us learn early.

Cristinaissweet · Answer

No it doesn't

Kaneki05 · Answer

Everyone barrows money whenever.

Dinklex3 · Answer

Nah. Everyone has their ups and downs.

CAPTAIN-OBVIOUS · Answer

It says you are 25-29 though

Luckycharms12 · Answer

Can happen to anyone at any age

OddBeMe · Answer

No everyone has ups and downs.

DailyLife · Answer

don't judge anyone by their money

Anonymous · Answer

No, they make up a good chunk of my business

Jmmmfi4 · Answer

Depends on the circumstances

Anonymous · Answer

No you are not

gothbxtch · Answer

not at all

jeffend888 · Answer

Yes.

jahaims · Answer

More than likely

Are you a loser if you still need to borrow money at the age of 40 because you are tight for money?

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