From Fox News · Ashley Hume · · 1m 20s
Kristin Cavallari's $250K Lesson with Father
Kristin Cavallari reveals how lending $250,000 to her father at age 22 left her $250,000 in debt with no repayment.
In brief
Kristin Cavallari reveals how lending $250,000 to her father at age 22 left her $250,000 in debt with no repayment. Kristin Cavallari learned she lent $250,000 to her father at age 22 and never got it back. Originally reported by Fox News.
Kristin Cavallari's financial lesson
Kristin Cavallari shared how she lent $250,000 to her father at age 22 and never got it back.
“I lent it to him, and he promised me he would pay me back.”
The loan request
At age 22, Cavallari loaned her father $250,000 after he asked for a large sum of money.
“My dad came to me, I was filming ‘The Hills,’ so I must have been 22, and asked for a large sum of money to borrow. Six figures.”
Unpaid loan consequences
Cavallari never received repayment for the first loan and later lent more money to her father.
“I said to him, ‘You haven’t even acknowledged the first payment, and now you want more money?’”
Financial lesson learned
Cavallari learned the importance of setting boundaries with family regarding money.
“I’ve learned that. You know, it would be a very different conversation probably today, but it’s the lending-money-to-people thing.”
Family relationship impact
Cavallari says her father 'traumatized' her son and she cut ties after three years.
“He crossed the line with one of my boys, and that's a dealbreaker for me. Especially when he had zero accountability, no apology.”
Current financial stance
Cavallari has made peace with the financial loss and now teaches her children about money.
“I've ultimately put it to bed and made peace with it.”
Long-term impact
Cavallari says she would never ask her children for money when they are 22.
“I can’t imagine going to my kids when they’re 22 and asking for that kind of money.”
Financial boundaries
Cavallari emphasizes the importance of financial literacy for women.
“We’re talking all things MONEY this week!! I’m over money being a taboo topic for women.”
Final consequence
Cavallari has not spoken to her father in three years after cutting ties.
“Cavallari said she hasn't spoken to her father in roughly three years.”
In short
Kristin Cavallari learned she lent $250,000 to her father at age 22 and never got it back.
