My kids are a different matter but with respect to friends and other family members, I have a strict policy of not lending them money. The old saying is true that when you lend money to friends, you lose both the money and the friend. It can be tough saying no but I’ve never lost a friend because I didn’t loan them money.
Of all the people I ever lent money to, only one ever paid me back. My brother (who never paid me back) with a wife and two kids hit a rough patch about twenty years ago and we “leant” them serious money and never worried about getting it back. I was surprised my wife agreed. We never really had any rancor with them, but we treated them well in other ways, we used to take them out to diner, when they couldn’t afford to eat out, that kind of thing. My wife liked his wife, which helped. It was a real sacrifice at the time, but I do not miss the money.
As to my daughter, we give her and her husband $750 dollars every December 1 for “Christmas” on top of whatever presents my wife buys. We also give them the same amount on June 30 for their anniversary to help with vacation. It wasn’t the $120 bucks, it was learning to keep your word and appreciate the (ever diminishing) value of a dollar.