Managing finances properly is key to our financial life, which is well known to each of us, I guess. I feel like this is in my bones so sometimes I make some decisions subconsciously. I recently ran into a situation where I found myself really awkward. Last July or August(I can't remember that clearly), one of my extended family cousin asked me for three thousand dollars as he lost his job and could not pay off his loans. I refuse to lend him the money cause I knew him well that he was not a solid trustworthy guy. A few days ago we met on a family reunion occasion and he did not really talk to me and I suddenly realized that it was because I didn't lend him money last year. I think about it twice and if he had not been that untrustworthy, I would have definitely lent him the money. Anyway, I hope he is doing fine now and best wishes to him.
In a businessman's view, you did well, but as a relative, you should have lent him some money, not that $3000, but to make face since he is your relative, you can at least lend him 10%-20% of what he is borrowing. It won't make you broke if he failed to pay you and at the same time, it will at least make your cousin feel that you care.
At least that I will do if anyone of my relatives borrows money and I am unsure if he will pay me or not. I know the feeling of being in need, and the feeling of getting rejected even though the person has the capability to produce the money I am borrowing.
Anyway, the world is round and who's on top now might find themselves at the bottom one day. It is best to plant good seeds with people just in case in time we are in trouble, there is a possibility that these people with whom we do some kindness will help us.
Managing finances properly is key to our financial life, which is well known to each of us, I guess. I feel like this is in my bones so sometimes I make some decisions subconsciously. I recently ran into a situation where I found myself really awkward. Last July or August(I can't remember that clearly), one of my extended family cousin asked me for three thousand dollars as he lost his job and could not pay off his loans. I refuse to lend him the money cause I knew him well that he was not a solid trustworthy guy. A few days ago we met on a family reunion occasion and he did not really talk to me and I suddenly realized that it was because I didn't lend him money last year. I think about it twice and if he had not been that untrustworthy, I would have definitely lent him the money. Anyway, I hope he is doing fine now and best wishes to him.
If a little bit of money is enough for your family member to act in this way, now you know everything you need to know about him, your relationship was based simply on what he could obtain out of you and now that he knows you are not going to give him that kind of money then he is not interested on maintaining a relationship with you, so you did the right thing as eventually that relationship would end anyway and most likely you would have lost that money too.
You don't understand the feeling of being abandoned. It is not about the money but the feeling of his cousin being abandoned in his time of need. But surely, we cannot blame @OP for his action since he weighs his money more than his cousin being a relative.
But well, to each their own...