When your family meddles in your finances

Article Abstract:

Conflict can develop when parents give adult children financial advice. Problems can be avoided by recognizing differing financial philosophies, being clear about how gifts of money will be used, deflecting questions about finances and arranging loans in a businesslike manner.

Prevention, Conflict of generations, Generation gap, Intergenerational relations

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Financial help from your family: how to handle the transaction

Article Abstract:

Parents may want a say in an adult child's life in return for giving their children money, and adult children who allow their parents to make all their financial decisions can remain uninformed about money. Taking a loan from a parent should involve a formal agreement.

Psychological aspects, Finance, Adult children

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Why friendship and money don't mix

Article Abstract:

Many people believe that since they are dealing with friends, they can skip the formalities of a business transaction. That is not good policy, however. One should know a friend's finances, not debate the idea of trust, spell out the terms and never co-sign a loan.

Loans, Friendship

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