Kimberly Palmer, U.S. News and World Report‘s Alpha Consumer, dropped me a line over the weekend. For an upcoming article, she’d like to interview someone who has struggled over whether to lend money to parents. If you’re willing to share your experience (and to identify yourself by name), please e-mail her [alphaconsumer *at* usnews.com] by Tuesday night.
Kimberly’s e-mail reminds me that this is an important subject for many people. Most personal finance advice deals strictly with the numbers, yet it’s the other stuff — emotional, psychological, and relationship issues — that can be most difficult to master. Here are three related discussions from the GRS archives:
- Money blueprints: What our parents taught us about money
- Ask the readers: “I’m doing well financially but my family is not”
- Financial advice from my father (when I was 19)
And here are some related articles from around the web:
Last week at Tough Money Love, Mr. TML noted that bad financial judgment tends to propagate down the family tree. As with many behaviors, we learn how to deal with money by observing what our parents do (or don’t do). We ape the actions they model. And then, when we have children, we pass along these same habits, both good and bad.
Jonathan at My Money Blog shared the story of a fellow he recently met who is engaged to be married. This man’s fiancee, however, has a radically different attitude toward money than he does, prompting Jonathan to ask, “Can love overcome financial incompatibility?” (We’ve discussed this at GRS many times in the past.)
Finally, it’s not just U.S. News and World Report that wants to write about how money affects relationships. Other big media publications want in on the action. Time recently explored the connection between recession and divorce. Meanwhile, Ron Lieber, who writes the “Your Money” column for The New York Times, wonders if the economic crisis means we’ll have to bail out our own family members.
This article is about Spare Change