Twenty Something T____sday, 2.0

"I wish somebody would have told me 

that cosigning anything for anybody is a bad idea 

when I was twenty-five."

 -An Amazing Woman

Timely, eh?  "Twenty-Something T___sdays" is back and hereby renamed because 1) I am out of order for keeping this knowledge to myself and 2) I reserve the right of flexibility with regard to which day I post.  I picked this gem because we all need one more economic/ finance reference to wig us the hell out, don't we? While this tidbit came to me a few months too late, I think it calls to our attention the importance of financial health.  What does that even mean?  I'm not sure, but let's have a go at it.

• Financial - adj.  pertaining to monetary receipts and expenditures; pertaining or relating to money matters; pecuniary: financial operations
• Health - n. 2) soundness of body or mind; freedom from disease or ailment: to have one's health; to lose one's health. 4) vigor; vitality: economic health
  

I'm tickled by the fact that the definition of health references money.  I guess even the dictionary knows that finances affect our soundness of mind.  If I'd known anything about cosigning, I would never have asked my sister to cosign a student loan for me.  I think we each only had the slightest idea of what that meant.  I just knew I had to finish school, and she just knew that if she could help me she would.  Thankfully, I am gainfully employed and on my ish, so she has no headaches - no phone calls from my lender saying, "Hey, did T change her number because we can't reach her..."  My sister has probably forgotten that she even did this magnanimous thing for me, and that's just the way I like it.  We're both young professionals trying to make our way in this world, and the last thing she needs is something else to worry about.

If I'd known anything about cosigning, I would have thought twice about cosigning for my relative.  I thought cosigning could not affect my credit.  I thought it would be just a signing of papers and then completely out of my hands.  I thought that my Relli would handle business in a such a manner that I could "forget" that I'd cosigned.  No. Such. Luck.  Let me be clear, my Relli is a hard worker; a very smart person with integrity.  Relli is taking care of a family of five, and busting the proverbial hump to do it.  But Relli has a problem with authority, so if payment is a little late and the lender calls, Relli's all, "Get off my back, Jack! When I got it, you'll get it, Sucka!"  That's when Relli answers the phone at all.  If Relli doesn't answer, the lender sends me mail, calls me - like an excited dog, "Hey! hey, did ya hear from Relli?  Didja, didja, didja? You know you cosigned, right? You know the payment's late, right?  Hey! Hey!  Throw the ball yeah, yeah, yeah..." So I'm more involved than I ever planned to be.  So much for the requisite birthday cards and holiday visits.

When my relative came to me to cosign, I did take a little time to think about it and do some superficial online research. I thought about my sister doing it for me.  I thought about how difficult it must be to ask for such a thing in the first place.  "What if you say no," I thought, "and Relli can't get out of this rut? What if you say yes, and this training improves the trajectory of Relli's current situation and future?"  I believed in Relli, so I said yes.  I don't regret cosigning because we're family, and this is what family does for each other. (Right, Cosbys?  Winslows?  Anybody?)  Plus, it's not like this is a perpetual concern for me.  Usually, Relli takes care of business, so I don't even have to get involved.  But when I do have to get involved, my emotional state goes from worry (I hope everything's okay) to annoyance (c'mon, Relli, get it together!)  to thankful (I'm in such a blessed state that I can help).  Then the reflux goes away.

I'll take this bit of advice and put it in my pocket, or my wallet, as it were.  I don't mind paying it forward, as long as you pay it back.  Ya dig?

Here's a fellow 20-something who blogs more consistently and candidly about coinage (amidst regular life stuff).  Check her out.