Adult Kids on a Spending Spree? 4 Reasons Why Not to Bail Them Out Financially
Parents want the best for their kids, and it is even harder to say no to a request for help if you’re a parent with means. However, bailing adult children out financially can hurt more in the long run than it helps. Kids really do need to solve their own money problems. This fosters independence and resilience, preserves your financial situation, and protects sibling relationships. Find other ways to support your children when they get into financial trouble, explain the limits of your generosity, and know where to turn if they need more help than you can give. Read on to get all the details and tips . . .