Search Results for: blog helping relatives with their finances

Helping Relatives with Their Finances

There are times when you may feel that you need to help out other family members financially. This can be a tricky area to go into. It is difficult to give money to someone, and then watch them use it unwisely. Loaning money to someone can also be very difficult, especially if you need the money. Also finances tend to be something that people keep to themselves, so it may be difficult to help them begin to budget or change their habits. Here are four tips when it comes to helping family members with money issues. 1) Never loan someone … Continue reading →

Monetary Gifts

More and more these days I am hearing stories of the eldest generation deciding to give monetary gifts to younger generations. People are living longer and generating more wealth into their later years. If you combine this with the fact that getting ahead when you are younger is getting harder, more parents, aunts and uncles, even grandparents are giving a large cash gift to help. Emotionally this can also be helpful for the older generation. Too often, their money and assets are not passed down until their death. Then, they do not even get to see the positive impact this … Continue reading →

Who is Responsible?

This is a common question when family members are having money problems. If they are related to you, are you possibly responsible? In some cases the answer will be yes, in others no. Let’s discuss some of the most common. Children: If a child is your dependent, and under the age of 18, then you are responsible for most everything he or she does. While most credit laws prevent minors from borrowing, if a parent co-signs on a loan or credit card… they are responsible for any debts his or her dependent incurs. Once a child turns 18 though, the … Continue reading →

Scammer Alert

As the nation grows older and the baby boomers hit their prime, a whole new age of scam artists have surfaced. These individuals are smart and savvy, so much so it can be hard to spot them. As the baby boomer generation has grown, so has their income and assets. They are seen as a target group by all kinds of money makers, from the legitimate business owner to the illegal scammer. Most likely you have read about someone falling prey in your own local newspaper. You may wonder how this could happen. Unfortunately some of these scam artists are … Continue reading →

Week in Review for July 29th to August 4th

Do you even know what a delinquency is? Dig deeper into the words and meanings of the credit world in regards to your credit score in Delinquencies and Credit Issues. What exactly happens when your bill goes past due? How does the late payment show up and your credit report? In this week blog entry, Collection Activities, you can learn some valuable information to help you maintain a clean credit report. As more of our population enters their senior years, reverse mortgages are a major buzz word. What exactly are they and do you qualify? Learn more in Miriam’s article, … Continue reading →