Once you've decided it's unwise to give or lend money to children—or grandchildren—think through how you want to communicate your decision.
Money is often equated with love. Even if this is a loving decision (e.g., you've determined that giving or lending them money is encouraging something unhealthy), how and when you decline is important for the future of your relationship.
Here are tips for navigating this sensitive discussion:
Concerned about your kids and money?
Let us help you plan for aging wisely. Call us at 203-826-9206.
Leslie Alin Tewes is a Geriatric, Disability & Medical Care Manager; Elder and Adult Care Advocate; Quality Improvement Specialist.