Prioritize your own finances before giving money to your parents and friends.
Before you step in, figure out the extent of the financial problems faced by your loved ones and the possible impact on your own money situation.
If you go beyond what you can afford, you may put yourself in a precarious situation. You need to establish boundaries and set clear expectations, should you decide to help them out.
You must take care of yourself before you can take care of anyone else.
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October 6, 2022