Broke Millennial Talks Money by Erin Lowry

Author:Erin Lowry [Lowry, Erin]
Language: eng
Format: epub
Publisher: Penguin Publishing Group
Published: 2020-12-29T00:00:00+00:00

While it’s ideal to be able to support your parents, siblings, or other extended family if that’s what you choose, Ohikuare points out that you can’t give what you don’t have. You shouldn’t put your own financial security at risk in order to support a family member.

However, she acknowledges that most people are not going to let their family members flounder or drown under crushing financial obligations. It’s more about setting boundaries and understanding your other obligations, such as to a spouse or child. There’s also a fine line between supporting your parents and your parents’ taking advantage of you and feeing entitled to your money.

“It can be a free-for-all,” says Ohikuare. “So, there has to be some sort of system.”

She advises that you ask yourself the following questions:

Can you give?

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