Financial Therapy: How Much Should I Help My Family?

Death, Sex & Money

Slate Podcasts

Business, Health & Fitness, Society & Culture, Careers, Relationships, Sexuality

4.6 • 7.6K Ratings

🗓️ 3 June 2020

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

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Summary

"It's difficult to sometimes separate myself from being the one that always has to have it together."

This episode is part of a special Financial Therapy series here on Death, Sex & Money, hosted by Amanda Clayman. If you have a money anxiety weighing you down, send an email or a voice memo to [email protected]. Find the entire series at deathsexmoney.org/financialtherapy. We'd also love to know what you thought of this series. Give us your feedback at deathsexmoney.org/ftsurvey.

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Transcript

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0:00.0	Hi, my name is Franchie and 32 years old and I live in the state of Texas.
0:07.0	And there are a lot of different things that have been running through my mind as the only person in my family that is getting stable income.
0:15.0	From death, sex, and money, this is financial therapy. I'm Amanda Clayman.
0:21.0	Franchie lives in a college town in Texas. She works at the university while getting her PhD in adult education.
0:28.0	I have an average middle class income and I don't have any debt outside of my student loans and my mortgage from my house, which is long term.
0:40.0	I have about three months to four months of emergency savings and we are not at risk of any furloughs or layoffs as employees for the time being.
0:52.0	So in the short term, it's not herself that she's worried about. It's her family.
0:57.0	My dad is retired. My mom passed away when I was a teenager and my three sisters have each experience different COVID-related financial changes.
1:07.0	Franchie has given money to her family in the past when they've needed it. So now she's thinking ahead to what her role might be in this crisis.
1:15.0	And I've been trying to balance wanting to be available to support and also respecting their boundaries and their needs to want to figure it out on their own.
1:27.0	And also what my boundaries will look like in terms of my need for myself.
1:35.0	After the break, my session with Franchie.
1:45.0	This is financial therapy from death, sex and money. I'm Amanda Clayman. I called Franchie on a recent Friday afternoon in quarantine.
1:59.0	I just got off a virtual baby shower. So I'm in a very pleasant mood.
2:03.0	Did they send a doll to your house that you had to diaper for a contest?
2:09.0	No, it was actually no weird, we played the prices right for baby items. I have no kids. So all this was just fun, but also mind blowing.
2:21.0	I think especially before you acclimate to the numbers of how expensive things are with children, all of it seems insane.
2:31.0	Yeah, like insane.
2:33.0	It was the funnest virtual baby shower I ever attended.
2:37.0	That is lovely. So why don't we start then by just telling me can you tell me a little bit about your family?
2:45.0	Yes. So I, my immediate family, I have three sisters. So they're four of us total between the ages of 29 and 34.
2:59.0	My sister, who is currently experiencing furlough, she works in corporate retail. And I worry that she's going to completely lose her job.
	...

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