It is also commonplace to find
parents getting themselves into debt in order to buy the latest phones, sports gear and clothes for their children.
Not exact matches
I have a nuclear family (
parents and me) and does not have any
debt at the moment and not planning to
get into as well except next 5 years for buying home...
If you
get into trouble and can't make a HELOC payment, you risk losing your home (or your
parents») to the bank to pay the
debt.
How to
get your adult children to leave the nest — Instead of feathering their own financial nests, many
parents who are retired or approaching retirement are going
into debt and raiding their savings to support their young adult children — all in the name of love... (See Adult children)