How to Respond if a Family Member Asks for a Loan (Part 1)

This is part 1 of a discussion of my views on how you should respond to a request by a family member for a loan. In today’s economy with so many people living paycheck to paycheck (and still falling behind), it is not unusual to be asked by a friend or family member for a loan. Read more

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

Guilt May Be the Antidote for Debt Addiction

On the various personal finance message boards that I read regularly, it is easy to find posters who debate the wisdom of purchases of non-essential goods and services by use of credit cards and other consumer debt.  The defenders of such purchases are often debt or credit addicts, carrying large balances on multiple credit accounts.  Equally often, these debt addicts argue that their purchases are justified because they work hard and therefore “deserve” or are “entitled to” things that bring them pleasure, even if they do not have the money to pay for them. Read more