Dealing with a Financially Irresponsible Family Member
When faced with a loved one in financial distress, our inherent nature often compels us to assist. The idea of co-signing personal loans or giving direct financial support becomes tempting, especially when it seems like the right thing to do. However, giving financial help to a family member, especially in the form of another cash payment to an adult child, or agreeing to them taking personal loans with a cosigner—you—can be a complex decision. It's based on the age-old adage that if we can help, we should – after all, it's better to give than receive. Furthermore, if we're in need, we shouldn't let pride hinder us from seeking assistance. Yet, while this generosity springs from a place of love and compassion, the complexities of financial support within a family…