How To Help – 5 Ways You Can Help A Family Member Who’s Struggling With Debt


Society has stigmatized debt, and what we earn has become synonymous to our value. While you are absolutely worth more than what’s in your bank account, the perceived implications of financial stress can leave people feeling sensitive about it. With this in mind, here are five ways you can respectfully offer assistance to family members struggling with debt. 

  1. Give A Cash Gift – Leave The Loans For The Banks

If you feel inspired to help someone who’s struggling with debt, do it for the sake of helping and to the extent that you can afford to. Loans between friends and family can complicate matters, so leave the fast money loans with specific repayment terms to the bank. Ensure anything money you offer is gifted. Even if you can’t afford much, every little bit helps. If your loved one feels uncomfortable about accepting a cash gift, give them the opportunity to repay the kindness by helping you out in whatever way they can. 

  1. Send Food 

When you’re down and out financially, receiving a dish of mac and cheese or a spaghetti bolognaise as a surprise dinner once in a while can really make a difference. Many families have to cut corners financially during difficult times, so a hot meal is often a luxury. Make it an evening of fun and surprise by eating with them. An evening of shared dinner and an opportunity to connect with others is tremendously helpful, often giving those struggling a chance to break out of depression and remember that their problems won’t last forever.

  1. Teach Them How To Find Government Or Charitable Resources

If someone is confiding in you about their financial woes, check first whether they’re just needing to vent or if they are looking for advice. If they would appreciate some pointers, teach them how to use government and charitable resources while they are struggling. They might have no idea that they can file for unemployment benefits or qualify for other forms of assistance. 

  1. Help Them Launch Something New

During the global pandemic, there have been many opportunities to earn extra cash on the side. Some of those opportunities will fall away over time, but many of them are here to stay. Many senior citizens are happy to pay a fee for having errands run for them. Other people have had to return to work but still require child-care, despite schools being closed. Provided your family member takes the necessary precautions to safeguard everyone’s health, there are many opportunities to make some money. 

  1. Sponsor Them With Financial Management Tools

You can help your loved one by sponsoring them with the tools they need to manage their finances more effectively. Pay for an online learning workshop or find a free short course that will equip the attendee with the tools they need to plan their monthly budget and manage their debt more effectively. It may even be worth sitting in on the learning experience with them. That way, they don’t feel so alone, and you’re sure to pick up some valuable insights you can use in your own financial planning. 

Follow the above tips, and remember to be tactful when it comes to helping a family member or close friend with their finances. To someone in a dire situation, there’s a fine line between help and condemnation, love and pity. Act with kindness and sincerity to ensure your good intentions are crystal clear.

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