By eHow Personal Finance Editor
Rate: (1 Ratings)
It's natural for a parent to want to reach out and help a child who's in debt. In doing so, make sure you are helping him or her curb any unhealthy spending habits, and be sure to protect yourself.
eHow Personal Finance Editor
Comments
DiscountTickets said
on 5/26/2008 This is great, I think every parent should know and do this for their grown up children.
Anonymous said
on 2/14/2006 Keep in mind that paying off the debt may help to reinforce the idea that their spending habits are OK. Merely fronting the money will not generally help them in the long term, and may help to make matters worse by giving the idea that no matter what they do someone will help them out. Instead of paying their way out, consider helping them in other ways such as finding out about money management workshops and helping them to put together a budget to pay off their debt gradually. Knowing how to manage money is not something we are born with, but it's an important life skill that is not learned when mom and dad keep giving handouts!