Do not lend your parent money. Once it start, it never ends until you say "no"! I delayed mine for 12 years.. the moment I said "no". My mom gives me the guilt trips. Silence treatment. Back-mouth me and all the relatives disowned me. It was best thing that ever happen. 😊
My cousin got into so much credit card debt his wife threatened to leave him. He asked me for money and I said no because I knew I'd never see it again. A few weeks later I started getting letters from his bank at my address. Without my knowledge or consent he had given them my address. It took months of hassle to convince the bank I had nothing to do with his debt. NEVER trust a relative in debt.
If you are a married spouse who stays at home…PLEASE PLEASE make sure you know the finance’s of your household because when crap hits the fan (ie major debt, divorce, tragedy) you will be affected!!
My wife was recently in an auto accident and her car was totaled out by our insurance, so instead of going and getting another new car. She’s buying what she can with the payout money and we’ll have no car payments anymore
My brother "borrowed" $2,000 dollars from my parents. He never paid them back even though he could. 20+ years after the fact, a $2,000 cheque arrives in the mail from my parents?? What's this for? The explanation was they never felt it was right nor fair to the other siblings, so they decided to give the remaining 4 siblings $2,000 each. Can you imagine having that weighing on your mind for over 20 years??
Please younger people hear this: Seeing someone with nice stuff, that does fun things all the time and drives a nice car tells you virtually nothing about their financial situation. They could be up to their eyeballs in debt and totally miserable outside of social media photos. They may have a trust or some other source of income. Unless you can see a detailed record of someone's finances you just really have no idea.
27 Minutes of DEBT Problems So Bad They Will Leave You SPEECHLESS