Daughters wedding - should I fund?
KAILEE - Jun 20 2016 at 14:09
My daughter aged 30 is having a wedding in FiJi.
I am very worried about her and her soon to be husband finances - They both work very hard and appear to have no savings .
I don't know what to regarding helping out financial with the Wedding. They have asked for a loan . At this stage we have gifted them 2 Thousand Dollars.
Should I asked or have the right to know what they spend their wages on before agreeing to a loan .
Absolutely. I mean a nice wedding gift is fine but a loan is different. And for all you know they are just using you. Some people are traditional and don't talk about money but I rather know why you need my money.
Basically, depending on who your are and your culture, you would gift your daughter something for her wedding as you already have done so. However, when it comes to a loan, you need to determine the actual amount, their ability to repay it and over what time frame. It all depends on you and your opinion because it's your money, and you have to be able to afford it, just as your daughter and her soon to be husband have to be able to afford to repay you. Take your thoughts further because if you couldn't advance the loan, for whatever reasons, then they would have to seek other means and that could include going to a bank for a personal loan.
To be fair to all involved, if you do advance the loan, then that really means that you need to stipulate similar repayment conditions as what a bank would, and maybe without the interest incurred,(a further gift?)but, again, that depends on you and your circumstances.
Therefore, yes, you have every right to know how they spend their money and what on, before you agree on a loan to them.