No, no, no, no, no!!! Don't EVER cosign a loan. Give her $1000 and tell her to go buy herself basic transportation (be it vespa or 1990 beat up junker that still runs enough to get her from point a to point b). At 19 she doesn't need a car loan. That presumes she is looking at a new or newish car. Not basic transportation. I admire to determination to help them but money, in any way shape or form, will not do it. Encourage them to come to you to discuss how to survive life without mindlessly getting into debt, letting them know that you have achieved what you did by being frugal not sapping someone elses finances. Giving them any money enables them to spend it. They are young and healthy, a few hard knocks will whip them into shape faster than your coddling. Micromanaging your 'gift' to them will NOT make them like you. They see money out of reach and will react negatively to your artifical hurdles.Just my thoughts.rosie T.(with nieces and nephews myself that I'd love to help)
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. M