Use the loan as a teaching moment

Early in their marriage, my son and daughter-in-law had trouble making their paychecks stretch — and started asking my hubby and me for money.

I said yes with a couple of strings attached. First, it would only be a one-time thing. Second, they had to keep track, in writing, of how the money was being spent so I could see where the money was going. They were not thrilled with the idea, especially because I would see how they spent their money, but I didn’t care.

The exercise made them aware of where the money went. It only took a couple of months and they were living within their means. They are now doing well. They purchased a house they could afford when interest rates were low. —Joan Shurtliff