#family-finances

#family-finances

My partner's sister is expecting her third child in December, it was quite a surprise, she found out at 20 weeks. I'm happy for her and excited about the baby, but concerned about the financial side. She and her husband haven't worked in nearly a decade. They're barely getting by on government support, and my partner has loaned her money over the years. She currently owes him over $1,000-though she pays small amounts back, she borrows more than she repays.

I don't know my parents' financial situation, but it's playing on my mind that maybe this is favouritism?

As families prepare to send their kids off to college or to start their first jobs, it's time to foster the next phase of their financial growth. Start by having an honest conversation about what you're willing to contribute financially. Many parents help their young adult children, often at the expense of their own retirement plans, so it's critical that you have a clear idea of what you can afford.