Three Financial Boundaries Every Family Should Set
Financial disagreements can strain marriages and other close relationships. Couples should agree on how much either partner can spend without consulting the other. Any amount above that limit should require a joint decision. It also helps to make personal loans an exception rather than a routine. If you choose to lend money, agree on it with your spouse and put the repayment terms and due date in writing. Avoid repeatedly rescuing adult children, partners or relatives from the consequences of irresponsible choices. Setting firm boundaries, including expecting an adult child living at home to contribute to rent, can build maturity and responsibility.
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