Ask:
Ok I am really wanting to talk to my little sis about money. She just got her first job in her field (teaching), is a single mom and is moving out on her own. She knows nothing about budgeting, interest rates, saving for retirment, credit cards. She is not going to research her personal finances. I would like to see her someday be able to afford a condo (they start arond 180K) but with an income of around 35K a year She will need to save like crazy to ever have a down payment. Any tips on how and if I should try to help her or does she need to make her own mistakes and learn from them?
TIA
Answer:
Good question. I think I would if she were 4 or more years younger - that way you could have a big sister talk. But other than that, I might just say, "Hey if you need help coming up with a budget or a plan, I'd be happy to help walk you through it." I've said with a few friends and so many of them take us up on the offer!
Answer:
That's so nice of you for wanting to help. Talking about money is a touchy subject. I've wanted to help a few people close to me, but until they are ready to hear what you're saying it can come across the wrong way. Ask a few questions first to see if she's open to your suggestions.
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It really depends on the state of mind that she is in. I would just make a slight mention to being available if she needs help with a budget or something along that order. If she's ready for the information she will respond so. If she's not than you're not wasting your time and get irritated in the process. I know I've attempted to help both of my SIL's and any advice I gave went in one ear and out the other.
Answer:
The closest we have come to really talking about money is the fact I do her taxes for her. She really doesn't have a clue so I do them. She has the child support money but I also want to teach her that she can't depend on the child support. It would be so nice if instead of using it for living expences she could save most of it
Answer:
Quote:
Originally Posted by KathrynHannah
Good question. I think I would if she were 4 or more years younger - that way you could have a big sister talk. But other than that, I might just say, "Hey if you need help coming up with a budget or a plan, I'd be happy to help walk you through it." I've said with a few friends and so many of them take us up on the offer!
ITA, I would mention it as a way for her to get house/condo.
allgirls
Answer:
That is totally nice you want to help her.If she is not willing to listen now,just let her know you will be there for when and if she is ready.I know you do not want to see her fall.I could probably teach my sisters a few things over my own expereinces....but they think they know everything.