4.6 • 682 Ratings
🗓️ 11 February 2024
⏱️ 5 minutes
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0:00.0 | brought to you by the every dollar app start budgeting for free today today's question comes from |
0:07.4 | terry in north carolina my wife and i have worked hard we paid off our debt and have a net worth of |
0:13.9 | eight million we still watch every dollar and save and invest as much as possible my brother and |
0:19.2 | his wife do not follow the same strategy. |
0:22.1 | Recently, my brother approached me for some money because he has failed to pay taxes for years. |
0:28.0 | And the IRS is threatening to put a lien on his house. He now owes over 100,000 that I know about. |
0:35.1 | I believe in helping family, so I have given him over 23,000, and I plan to give him |
0:40.3 | another 8K soon. I created a budget for him, set up separate accounts to help avoid reflex spending, |
0:46.9 | and even recommended he listened to your podcasts. Things went well for a month, but I found out he and |
0:52.8 | his wife majorly overspent on gifts during the holidays. |
0:57.2 | My worry is that my help has been a waste. |
1:00.3 | He doesn't seem to recognize the damage that he is doing to our relationship by essentially spending my money on frivolous items while I keep the IRS office back. |
1:09.4 | He also doesn't seem to understand that every dollar I |
1:11.7 | give him is one I can't invest myself. Should I just walk away at this point? I'm going to say yes. |
1:20.7 | Let me back up my position on this, Dave. I'm looking at some of the language that you're using, |
1:26.8 | and what I see here is resentment building |
1:29.6 | because clearly you don't like the way he's living his life. I like that you're giving him the |
1:35.0 | money and not aloning it to him. But because in your mind there's these strings attached that |
1:40.7 | he's not following, I feel like it's causing, it's causing unrest in you and in your |
1:45.3 | spirit. I'm like, listen, you got to guard your heart a little bit because if you keep giving him money |
1:49.5 | and he continues to not do what you think he should do, it's just going to build up your anger towards him, |
1:56.5 | your resentment towards him. I mean, you said it right here. You said, let's see, he keeps spending my money |
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