how to deal with financially irresponsible parent

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How to Deal With Financially Irresponsible ParentsIdentify The Problem. The first thing that you need to do when it comes to dealing with financially irresponsible parents is to identify the problem.Addressing the Problem. Once you鈥檝e sorted out the emotions from the actual financial difficulties,it鈥檚 time to address the problem.Set Boundaries and Let It Go. Remember: You can only help them if you want to help them and if they want you to help them. …

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  • How do you deal with financially irresponsible friends and family?

  • Communicate, communicate, communicate with your loved ones. It鈥檚 only through those strategies that you鈥檒l be able to maintain healthy relationships with some less financially responsible people in your life without going down a financially irresponsible road yourself. Good luck! Trent Hamm is a personal finance writer at TheSimpleDollar.com.

  • Should you lend money to your parents?

  • As long as the money is going toward needs, you have to accept that you loaned the money and it is now in your parents鈥?hands. If you see that irresponsible purchases are being made, you can clarify your expectations for lending the money. That means you have to talk to them about the money before you give it to them, and regularly thereafter.

  • Would you support your financially negligent parents?

  • Would you Support your Financially Negligent Parents? On the surface, the answer of whether or not you should support your parents in their later years is an easy one 鈥?yes, of course you should, right? You don鈥檛 want to see them aimlessly walking around the neighborhood, begging for food and meds.

  • Should you talk to your parents about giving them money?

  • That means you have to talk to them about the money before you give it to them, and regularly thereafter. Yes, it鈥檚 awkward. But if you don鈥檛 want to get angry and potentially ruin your relationship with your parents forever, ten minutes of awkwardness will be worth it. Should your siblings have to chip in, even if your parents only asked you?

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