It pays to tread carefully when lending money to family and friends investinyou (In partnership with acorns.)
I see the recurring theme of the family asking a first-generation wealth builder for excessive loans or financial assistance crop up across multiple cultures. Of course, it's not wrong to want to help your family or friends in time of need. In fact, I believe that it can be beneficial for a first-generation wealth builder to reinvest in their community.
Do you consistently have the same person coming to you for money? It may be time to attach some education to your financial support. Two examples that I consistently see are: Additionally, when you decide to give money to a friend of family member, there's a temptation to call it a loan. I find that when you expect that the money will be paid back, it's only going to cause more hurt and bitterness in the long run. If you decide to give money to someone, do so without expectations. There should be no financial or repayment "strings" attached to your giving.
How much are you willing to budget to give to friends or family or to support your community each year?Stepping up, and stepping back
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
15-month-old girl killed by family friend's Rottweiler: PoliceA 15-month-old girl has been killed by a dog in Nevada, according to authorities.
Weiterlesen »
Trump Fed pick Stephen Moore paid off $75K tax lien but says IRS owes him moneyStephen Moore, who has been tapped by President Donald Trump to join the Federal Reserve board, says he has paid off a $75,000 income tax lien — but is not abandoning efforts to actually recoup money from the IRS that he claims he still is owed.
Weiterlesen »
Trump says U.S. paid no money to North Korea over WarmbierU.S. President Donald Trump on Friday said the United States did not pay any mon...
Weiterlesen »