Released: October 28, 2019

Be cautious in doling out money to adult children

Source: Michelle Singletary, Washington Post (Paid Registration)

Helping your adult children by lending them money may be keeping them from fixing the problems that are causing their financial distress in the first place. If you do give them money, you need to behave like a real lender. You may feel uncomfortable treating a personal loan in a businesslike manner, but if someone is borrowing money from you, that person—even if it’s your adult child—owes it to you to be transparent.

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