\n<\/p>\n
Scott,<\/em><\/p>\n Helen,<\/p>\n You\u2019re not going to like my response.<\/p>\n Heck, I don\u2019t even like my response, but I\u2019m going to give it to you anyway:<\/p>\n Helen, you are failing<\/em> as a mum.<\/p>\n By continually bailing him out for the past eight years you\u2019ve robbed him of the chance to grow up.<\/p>\n Worse, you\u2019ve put your own financial future in jeopardy doing it!<\/p>\n My advice?<\/p>\n Tell him the Bank of Mum is officially closed. No loans. No co-signing. No exceptions.<\/p>\n \u201cNo\u201d is a complete sentence.<\/p>\n If you keep rescuing him, he\u2019ll end up being a 50-year-old flailing around with his financial floaties on, waiting for his mummy to rescue him from the shallow end of life.<\/p>\n Suggest that he call a free financial counsellor via the National Debt Helpline (1800 007 007), and that they\u2019ll help him sort out his mess.<\/p>\n You\u2019re a kind woman, and a loving mum. But right now, Helen, you\u2019re killing him with kindness.<\/p>\n Scott<\/p>\n\n","protected":false},"excerpt":{"rendered":" Scott, My adult son is a financial disaster. He owes money to lenders I\u2019ve never even heard of \u2013 Credit24, Fair Go, Pepper \u2013 and over the years I\u2019ve paid off loans that weren\u2019t mine just to keep him afloat. Now some \u2018consultant\u2019 has told him to borrow from family to pay off his debts […]<\/p>\n","protected":false},"author":1,"featured_media":104158,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[96],"tags":[13031,956],"dealstore":[],"offerexpiration":[],"class_list":["post-296200","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing","tag-disaster","tag-son"],"yoast_head":"\n
My adult son is a financial disaster. He owes money to lenders I\u2019ve never even heard of \u2013 Credit24, Fair Go, Pepper \u2013 and over the years I\u2019ve paid off loans that weren\u2019t mine just to keep him afloat. Now some \u2018consultant\u2019 has told him to borrow from family to pay off his debts and start again. But I\u2019ve heard that line before. For eight years, I\u2019ve been his safety net. I\u2019m emotionally exhausted, financially drained, and now he\u2019s asking me to take out a loan in my name. I\u2019m in my 60s. I can\u2019t keep doing this. Please \u2013 how do I help him without sacrificing myself?<\/em><\/p>\n
Helen<\/em><\/p>\n