Tick-Tactics

EVIDENCE SOURCES

Click these links to explore
the PROs, CONs, and UNSURE evidence for each topic

097. Is it okay to ask them for financial help, or should I be independent? (The Financially Strained Child)

  1. 1. Pro: Asking for financial help can provide relief during difficult times and strengthen familial bonds through mutual support.
    Forbes: [Asking for Financial Help]
    https://www.northwesternmutual.com/life-and-money/how-do-i-ask-my-family-for-financial-help/
  2. 2. Con: Relying on parents for financial help might lead to dependency and strain the relationship.
    Investopedia: [Financial Independence]
    https://www.investopedia.com/just-a-third-of-people-were-financially-independent-from-parents-as-adults-study-says-7973735
  3. 3. Unsure: Discussing financial assistance with clear terms and repayment plans can help maintain independence and mutual respect.
    NerdWallet: [Family Loans]
    https://www.nerdwallet.com/article/loans/personal-loans/family-loans
  4. 4. Pro: Financial support from family can be a temporary solution that enables you to get back on your feet without accruing debt.
    U.S. News: [Family Financial Support]
    https://www.incharge.org/debt-relief/debt-relief-low-income-americans/
  5. 5. Con: Asking for financial help can feel like a loss of independence and might impact self-esteem.
    Psychology Today: [Financial Independence and SelfEsteem]
    https://www.psychologytoday.com/us/blog/your-emotional-meter/201911/how-to-live-an-emotionally-independent-life
  6. 6. Unsure: Evaluating the reasons for financial strain and creating a plan to achieve financial stability can determine if asking for help is necessary.
    The Balance: [Creating a Financial Plan]
    https://www.goldfarbfinancial.com/post/how-financial-planning-can-help-reduce-stress
  7. 7. Pro: Family support during financial hardship can foster stronger relationships and demonstrate the importance of helping each other
    AARP: [Supporting Family Financially]
    https://www.aarp.org/caregiving/financial-legal/info-2023/how-to-protect-financial-future.html
  8. 8. Con: Family financial dynamics can be complicated and might lead to conflicts or misunderstandings.
    CNBC: [Family Money Conflicts]
    https://www.apa.org/topics/money/family-financial-strain
  9. 9. Unsure: Seeking financial advice from a professional can provide guidance on managing finances independently or with family help.
    Investopedia: [Financial Advisors]
    https://www.investopedia.com/managing-wealth/when-should-you-hire-financial-advisor/