Comments on: How much financial help to give a family member?

By: Helping Family Members «Out of Debt Again

Helping Family Members «Out of Debt Again — Wed, 30 Sep 2009 11:38:48 +0000

[...] Family Members Funny About Money recently blogged on helping family members, linking to a post at Get Rich Slowly. Both helpful [...]

By: John Gerber

John Gerber — Wed, 16 Sep 2009 15:17:13 +0000

I agree with your sentiment. You’re only encouraging the irresponsible behavior to continue at that point.

People have to start becoming more educated when it comes to their money; often times the worst offenders are those who make high incomes from a job but are on the brink of financial ruin because they spend every penny they make. Savings is of utmost importance in this economic environment, no matter how much you take home a month.

By: frugalscholar

frugalscholar — Tue, 15 Sep 2009 14:25:40 +0000

I know of some families where all money is left to grandchildren, skipping the profligate member. My brother in law was in charge of a huge settlement for his brother, who died of asbestosis (in his 50S). He had to give a certain amount to the one grown child. She blew through about $300000 in the first year. Not much left for her! He tried to direct most of it to her kids, but they are minors, so he’s been unable to implement that idea fully.

This must be so hard to watch. I hope I never face it with my own children.