Comments on: Over $2400 In Overdrafts (Your Advice)

By: mrpaseo

mrpaseo — Sun, 31 Aug 2008 13:15:18 +0000

Really there is not enough info to go one here, I agree that the FPU was a good place to start (Though how did they pay for the kit?), and I agree that giving them money is not the best idea. You then become a source of money to them, and as Dave says, the borrower becomes slave to the lender and in family, this is never good.

Dave

By: Special Ed

Special Ed — Thu, 31 May 2007 20:28:39 +0000

$2400 in overdrafts and a foreclosure since the first of the year and they are borrowing from payday lenders? They are on a fast track to the poorhouse. I would give them nothing. They must grow up and stop this immature behavior.

By: Frugal Momma

Frugal Momma — Thu, 31 May 2007 14:03:39 +0000

I am sure that this is causing you much stress, but I don’t think giving them money is the answer. Financial Peace university will hopefully help them.

However it all comes down to behavior

By: Spokane Al

Spokane Al — Thu, 31 May 2007 13:37:14 +0000

I agree with Yummy. They must first agree that they have a serious problem and then buy in on the idea of fixing it. They must change habits drastically.

Overdrafts are a symptom of either not watching their balance or not caring. Either way, there is a serious problem.

With their current issues giving them some of your hard earned money will do nothing to solve the root cause of the problem.

I hope they can rectify their situation through the Financial Peace people.

By: yummy

yummy — Thu, 31 May 2007 11:49:58 +0000

I do like the advise to take Financial Peace. The budgeting and having some money aside for groceries will be excellent for them.

People have to change their own behaviours – this gives them the opportunity – you saving them with $$ isn’t anything but a short term solution.