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Minus the horse stuff, this sounds like it could be my inlaws. My in-laws spend money in strange ways, although it's mostly supporting their dirtbag mooch adult children they each brought into the marriage. They've got multiple posts from me in the "bad with money" thread (timeshare, cosigned student loans, tricked into paying for a wedding). They leased a car under advice from a friend to "write it off as a business expense" (note: they do not have a business) I work in the finance industry. My in-laws asked me to look over their budget and investments to make sure they're prepared for retirement. I refused, and told them to go find a fee-only financial planner and made them promise to not take any financial advice that any of their friends tell them. They have since done so, and their situation has improved greatly. My parents are a different story. They both work, but work as teachers and don't pull in very much and have a lot of consumer debt. My sister once went on a big kick after reading a bunch of personal finance books and fancied herself a budgeting guru. She tried to do an 'intervention' with my parents similar to what OP has in mind, and it did not go well. At all. Lots of hurt feelings all around. The most pressure I can put on them is to encourage them to save their money and minimize expenses, with the justification that I want them to be healthy, independent and comfortable in their retirement instead of working into their 70s (which is a possibility). That's all that really seems effective is just to give positive reinforcement every now and again.
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Aug 19, 2014 04:08
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| # ¿ May 18, 2024 07:52 |
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