Search Results for: blog when will you stop supporting your children financially

Olympic-Sized Sacrifice

No sooner did their children make international headlines as Olympic gold medalists than the parents of gymnast Gabby Douglas and swimming superstar Ryan Lochte’s parents garner worldwide attention themselves… but not the good kind. Leave it to TMZ.com to break the news that Douglas’ mother, Natalie Hawkins, was forced to file for Chapter 13 bankruptcy just months before her 16-year-old daughter made the Olympic gymnastics team. According to court records, Hawkins has been granted time by a federal court to reorganize her finances and pay down the nearly $80,000 of debt she has accumulated since going on long-term medical disability … Continue reading →

Octuplet Story Controversy Continues

A few days ago, I wrote about the California mom of six, Nadya Suleman, who just gave birth to octuplets. In case you are as bad at math as I am, that is eight babies. Nadya already has six children, is divorced, and living with her parents in a three bedroom house outside Los Angeles. Earlier reports from Nadya’s mother, Angela, seemed to lean towards the fact that Angela supported her daughter. She said her daughter had always been obsessed with having children, but was a good mother. Now it seems that Angela was not being 100% truthful. Angela has … Continue reading →

Financial Sacrifices for Your Children

When you become a parent you begin to make sacrifices for your children. You sacrifice your time to spend time doing things that your children want to do. You may sacrifice that new pair of jeans so that your child can have a few new pairs. You may sacrifice fancy dinners out, so that you child can take ballet lessons. All of these things are normal, but is there a time when you should put yourself ahead of your child—at least financially speaking? Most experts would say that there is. When it comes to saving for your child’s education or … Continue reading →

When Will You Stop Supporting Your Children Financially?

The time that you stop supporting your teenager or young adult will vary from family to family. Some families will help their children through college, and others expect for them to provide for themselves after high school. It is a personal decision for each family to make, but it is important that your teenager know what your decision is, long before the time comes. If you are expecting your child to become financially independent shortly after graduating from high school you will need to make sure they have the necessary skills to manage their money. (In fact most teenagers need … Continue reading →