This is an ongoing series where you ask and I answer! If you have a money question, please fill out this form.
Here we go!
Thanks Teresa for asking today’s question about family debt:
I have a relative with huge credit card debt who is only paying the interest due. In the meantime unnecessary purchases and ‘treats’ such as restaurant dining are daily instead of saved for special occasions. Everything regarding why this needs to stop has been said. Any advice? The relative reacts as if you are waving a red cape and trying to provoke anger if you say anything they don’t want to hear.
I’m sorry to hear you’re going through this! Believe it or not, this is a HUGE problem and I get asked this question all the time.