I heard a quote once, "You can’t force your will on people. If you want them to act differently, you need to inspire them to change themselves." and I just realized that it is actually true. You can't tell broke people to change. You can't tell smokers or alcoholics to change. The only way people are going to change if they got sick and tired of it and they want to change themselves.
My mom and my younger sister are broke and in debt. They both live together renting an apartment. My mom is 55 doesn't have anything for retirement.
My mom take home is about $3,400. My sister take home is about $1,400 as part time because she went back to school. My sister will be out of school in 2 years and hopefully she will earn more money. They both have about $25,000 in debt so total of $50,000. Based on their expenses recently, my sister does not have anything remaining in their monthly cash flow but my mom has $1,000 after all expenses that she can put to pay some debts.
They both don't save money and they don't budget. They are not responsible financially and their income is not that much and I am completely the opposite. I'm not in debt, earning decently and I can say that I am financially responsible. I've been telling them to save and budget money for the last several years and I feel like every time I see them, the discussion will always go to the money talk and I'm sick and tired of it and they are too. I always give them gifts like books and audio from Dave Ramsey but they just don't care.
We came from a poor background so I promised my mom that I will buy her a house when she retires, either back in her home country where I can buy a big house for her for about $100,000 or in Las Vegas where houses are not that expensive compare here to Los Angeles. 10 years from now, who knows, I can probably cash the whole thing or at least put a lot of downpayment. Besides my promise, I think she wants to depend on her social security and she is hoping that me and my older sister would support her and give her money monthly when she is retired. My older sister is ok financially and they will probably get a lot of inheritance from her husband's father but that's another story.
Anyway, the big question is, what would you do in my shoes?
How do I inspire my mother and younger sister to change?
My mom and my younger sister are broke and in debt. They both live together renting an apartment. My mom is 55 doesn't have anything for retirement.
My mom take home is about $3,400. My sister take home is about $1,400 as part time because she went back to school. My sister will be out of school in 2 years and hopefully she will earn more money. They both have about $25,000 in debt so total of $50,000. Based on their expenses recently, my sister does not have anything remaining in their monthly cash flow but my mom has $1,000 after all expenses that she can put to pay some debts.
They both don't save money and they don't budget. They are not responsible financially and their income is not that much and I am completely the opposite. I'm not in debt, earning decently and I can say that I am financially responsible. I've been telling them to save and budget money for the last several years and I feel like every time I see them, the discussion will always go to the money talk and I'm sick and tired of it and they are too. I always give them gifts like books and audio from Dave Ramsey but they just don't care.
We came from a poor background so I promised my mom that I will buy her a house when she retires, either back in her home country where I can buy a big house for her for about $100,000 or in Las Vegas where houses are not that expensive compare here to Los Angeles. 10 years from now, who knows, I can probably cash the whole thing or at least put a lot of downpayment. Besides my promise, I think she wants to depend on her social security and she is hoping that me and my older sister would support her and give her money monthly when she is retired. My older sister is ok financially and they will probably get a lot of inheritance from her husband's father but that's another story.
Anyway, the big question is, what would you do in my shoes?
How do I inspire my mother and younger sister to change?
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