It’s hard watching a family member struggle under the pressure of debt. You want to help but aren’t sure where to begin. Your number one priority should be to park any judgment, Lesleyscorgie writes.
It’s hard watching a family member struggle under the pressure of debt. You want to help but aren’t sure where to begin. I’ve been coaching and counselling people on money matters for more than 16 years, and the very best support you can offer a family member struggling with debt is encouragement. Remember: debt is fixable.Your love, support, guidance, money mindset and influence might be the precise thing that helps spark positive financial change for your struggling family member.
If you’re all clear to help, you can start by understanding more about what specifically they are dealing with. Are there credit card balances? Have collection agencies started phoning? Was their consolidation loan application declined? Are they suffering from panic attacks when the bills are due? It can be hugely helpful to draw from your own experience dealing with debt as you explore their unique situation.
It’s very difficult to see a family member suffer or make “mistakes” with their money. I know that I have personally felt very upset and at times angry when I’ve learned the details of how the person got into a precarious financial position. But, your number one priority is to park any judgment and really focus on the task at hand; getting your family member in a better financial position.Chances are that your loved one might not know what to do next.
Your loved one needs to know there is a path forward. They need to know you’re cheering them on, and they also probably need to know that as holidays approach, the whole family wants to see them pay off their debt rather than splurge on anything for anyone.
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