Dear Queenie,
Our daughter has a good job with good pay but she always has a lot of credit card debt. We try to help her out because if we don’t she won’t let us see our grandchildren.
Queenie, how can we get her to not spend so much and to pay up on her debts?—Worried grandparents
Dear Grandparents,
Try get your daughter to talk to a financial advisor, who will help her set up a budget she can afford on her own and who probably will advise her to get rid of all her credit cards. Remind her that you will not always be around to help pay her debts, and if you have to continue doing so, you will not have anything to leave her and her children when you are gone – and what will she do then?
And you might want to set up anything you want to leave to the grandchildren in a trust fund that your daughter cannot get her hands on.
