My siblings and I are concerned that our parents spending habits have gotten out of control. They are completely in over their heads in debt and refuse to change their purchasing ways. We have tried to take control of their credit card situation, but new applications come every day and they are kept from our knowledge! Just wondering if this calls for a family financial intervention of some sort, and how to go about it?
How to kindly approach a parent regarding their debt and unnecessary spending habits?
"You can't change a persons mind, but you can alter the way they think." If you already tried to talk with them and couldn't convince them to see things your way, try asking them a series of guided questions until they come to their own conclusion. It's a tough art to master, but it is exactly what expert salesmen do. The only way they'll buy into it is if they figure it out for themselves. Try asking them questions that will help them realize the value of being monetarily disciplined.
Reply:Honestly, it isn't any of your business how your parents run their finances, whether you are 6 or 60. You have no right to try to take control of anything.
What you can do is talk to them. Have you done this in a non-threatening and nurturing way?
Other than that, you have no other options.
Good Luck!
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