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helping family

December 24th, 2018 at 08:26 am

I took over my moms finances 20 months ago...she lives on a pension and is raising a teenager ( was 11 at the time) had a bunch sof appliances that broke and had to "rent to buy", never had savings as things always came up etc...we talked and set up a budget for her and I paid her bills online and she took cash for her groceries/chiro/fone.

This november she was completely debt free, she has her christmas shopping done (bought her great grandson a laptop ready for high school) and she has savings...we have written out next years budget and changed a few things and she said this is the first year she hasn't really stressed about things in a long time...so I am happy that not only have we been able to help our situation but also my moms and what is better is that she is use to living on limited money and wants to stay that way so she can build up some savings....she says she hasn't really missed out on anything either....so happy that next year will be a positive year for her as well....does anyone else help their family this way?

Posted in Personal Finance | 7 Comments »

7 Responses to “helping family”

  1. CB in the City Says:
    December 24th, 2018 at 01:04 pm 1545656686
    1545656686

    I am so glad this works for you! I hear so many stories of people who try to help family and it backfires, or fails.

  2. DW Says:
    December 24th, 2018 at 02:22 pm 1545661377
    1545661377

    This is a really positive post. This is the first time I’ve heard of someone helping their family and it went well. The family member followed your advice and in such a short period of time is debt-free. And they want to continue to the budget and not get spendy.

  3. ceejay74 Says:
    December 24th, 2018 at 02:38 pm 1545662318
    1545662318

    Same! I occasionally advise or help family and friends in various ways but never with such positive results!

  4. creditcardfree Says:
    December 24th, 2018 at 03:23 pm 1545664995
    1545664995

    I've not helped my family in that way, but I'm so glad your experience was a positive one for you and your mother.

  5. Sarah Says:
    December 24th, 2018 at 04:26 pm 1545668788
    1545668788

    I'm so glad this worked out for you. It did not work out for me when I tried to help my mum.

  6. mumof2 Says:
    December 24th, 2018 at 11:26 pm 1545693992
    1545693992

    Its sad that you guys haven't had such positive experiences I'm so glad my mom is doing better now especially at her age...can be hard when you have a teenager...but she is teaching him about money now and hopeully he will do better...I have tried to help other family members but they stick with it for like a month then go back to their old ways and then whine about their bills...I always say to them " don't whine about things your not willing to change" it usually shuts them up

  7. rob62521 Says:
    December 25th, 2018 at 08:17 pm 1545769068
    1545769068

    Wow, that is certainly good news. How nice of you to help her.

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