Every parent knows that our care and concern for our children doesn’t stop when they hit adulthood. But most of us are a little unclear on how that care should play out financially. Trying to figure out when and how to help adult children with money problems can lead parents into all kinds of financial miscommunication and conflict.
It doesn’t have to be that way. While the best approach for you will, of course, depends on the situation, there are 6 guidelines you need to keep in mind as you make financial decisions about your adult children.
1. Know your child’s Money Personality – Read more here
2. It’s ok not to play fair – Read more here
3. Respect each other – Read more here
4. Don’t hurt yourselves to take care of your kids – Read more here
5. Decide if there will be strings – Read more here
6. If there are strings, get them in writing – Read more here
Read this week’s entire Money Couple Minute – HERE.