What to Do About Rebuilding Haiti

I hope that the rush of international aid to Haiti will minimize the loss of life and suffering by the folks stranded on that island. Phase two of the recovery will involve important questions of what should be done to rebuild the country. As harsh as it may seem, this is a financial question as well as a human one. Read more

A Vulture Consumer? Good for You

I was amused by the title of this article about vulture consumers. Apparently to some, a person who gets a bargain offered by someone in dire financial straits is a “vulture.”  Sorry – but Mr. ToughMoneyLove doesn’t agree with the negative connotation. Read more

My Life as a Volunteer Tax Preparer – Week 3

  Today was my third weekly session as a volunteer tax preparer.  I met more interesting people with yet more interesting hard truth stories involving the intersections of their money with their lives.  That being the case, I thought I would continue to share them with you.

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My Life as a Volunteer Tax Preparer – Week 2

Yesterday was my second weekly visit to the AARP Tax-Aide office where I am volunteering as a tax preparer for elderly and low-income taxpayers.  I had not originally planned on writing a lot about these experiences but it turns out I am learning so much – about people, not taxes – that I have decided to continue to share with readers.

I had five appointments yesterday and was able to complete five returns.  All of the taxpayers that came in were retired (collecting pension income and/or Social Security).  Here are my week two observations:

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Will a Tough Love Confrontation Work for a Family Finance Meltdown?

In my search for stories of tough love applied to money problems and financial disasters, I received this response from a Oasis657, a message board reader: Read more

Saying No to Adult Children

On a personal finance message board I asked other readers to post stories of success and failure in administering tough love to deal with a money problem.  One reader who called herself Gardening Grandma posted this story:

“One of the hardest things I’ve ever done in my live.  My son, at the time, was 19.  He had dropped out of school (gotten his GED), could not hold onto a job because he would partly late, sleep in and be late for work so eventually would get fired.  After nearly a year of this, I packed him up one evening, drove him to a motel, paid for 1 week’s lodging and gave him $100.  Told him he was on his own.  Then I went home and cried my heart out. It is still painful to recall.  I’d ride the bus to work everyday, wondering if he was one of the many homeless people I saw.

He grew up, learned that he needed a job to eat and provide for himself.  He told me a long time ago, that he knew I had had done what I had to do.  But Gawd, it was hard for me to do!”

I know many other parents have had similar problems.  (Fortunately, I have not!)  This parent showed extreme toughness but it paid off.   Maybe other parents need to follow this tough love example in helping their children with money problems?