It's important to be mindful when giving money to family. Here are a few tips that can help ensure the process is successful:
Set expectations and boundaries. Have an honest discussion with your family about the expectations and boundaries of gifting. Discuss how much you will give and how often so everyone is on the same page.
Make it a benefit for everyone. Consider making your gifting a benefit for everyone involved. You can offer educational stipends, or even start a family business that your whole family can participate in.
Give time rather than just money. Consider giving time as well as money. Spend quality time with your family, and share your experiences so that everyone can benefit from them.
Benny Bernald
It's important to be mindful when giving money to family. Here are a few tips that can help ensure the process is successful:
Set expectations and boundaries. Have an honest discussion with your family about the expectations and boundaries of gifting. Discuss how much you will give and how often so everyone is on the same page.
Make it a benefit for everyone. Consider making your gifting a benefit for everyone involved. You can offer educational stipends, or even start a family business that your whole family can participate in.
Give time rather than just money. Consider giving time as well as money. Spend quality time with your family, and share your experiences so that everyone can benefit from them.