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6 Steps to Helping Your
Adult Children Financially

Every parent knows that our
care and concern for our
children doesn’t stop when
they hit adulthood. But most
of us are a little unclear on
how that care should play
out financially. Trying to
figure out when and how to
help adult children with
money problems can lead
parents into all kinds of
financial miscommunication
and conflict.
It doesn’t have to be that
way. While the best
approach for you will, of
course, depends on the
situation, there are 6
guidelines you need to keep
in mind as you make
financial decisions about
your adult children.
1. Know your child’s
You know
better than anyone that
each of your children is
unique. That means they will
each deal with money in
unique ways. So base your
decisions about helping your
child based on her Money

and her history
with money. We know a
couple whose son has a
long history of money
problems. He’s a Flyer
doesn’t think about money
or worry too much about
whether he has any. But
when he needs to repair his
car, guess who he calls?
Helping him out only
perpetuates this cycle. That’s
very different from a child
who is handles her money
well, but needs a one-time
loan to cover an
unexpected expense.

2. It’s okay not to play fair.
We also see a lot of couples
who feel like they need to
give all of their children the
same things–if one gets
money, they all get money.
But it really is okay to help
one child financially and not
another as long as you
have good reasons for
doing so. Naturally, you don’t
want to give or withhold
money to manipulate or
punish your children, but it’s
perfectly fine to say no to
one child and yes to
another. You can offer equal
amounts of love without
offering equal amounts of
financial assistance.

3. Respect each other. We’re
parents too and we know
someone’s always a softy
when it comes to the kids. If
one of you is more inclined
to help your child than they
other, work to find a
compromise–consider giving
a smaller loan or offering
other kinds of emotional
support. Recognize that you
both want the best for your
child and figure out how to
give her just that. And if
your partner says “no,” don’t
slip your child $100 the next
time she comes over for
dinner. Don’t let this decision
undermine your relationship
with your partner.

4. Don’t hurt yourselves to
take care of your kids.
see so many parents who
would rather decimate their
own resources than see
their kids struggle. But
giving away money when
you can’t afford it doesn’t
help anyone in the long run.
Protect yourselves-for your
sake and the sake of your

5. Decide if there will be
Most financial
transactions-especially those
between family members-
have some kind of strings
attached. If you are giving
money to your adult
children, be as clear as
humanly possible about
what you expect in return. If
you want to be paid back,
talk about a timeline and
possible interest. If you think
helping pay for a car means
you get to use it now and
then, work out an
arrangement that everyone
can agree to. If you hope for
more visits or phone calls or
meals together, say so.
Laying out all the
expectations on the front
end and avoid the strife
that comes with poor
financial communication.

6. If there are strings, get
them in writing.
everyone the drama of
miscommunication and hurt
feelings and write down
every nuance of your
agreement. No expectation
is too small. Sign it, have
your child sign it, and make
copies for both of you. If
you are expecting the loan
to be repaid, you might
want to consider filling out a
promissory note (you can
find a template on that serves
as a legally binding
With a little thought and
clear communication, you
can protect your family
from the kind of relational
damage only money

Easy. Safe. No risk.


how to make
money online for

“I am trying to
figure out where to
start with internet
marketing. I just
read your post about
lifestyle and I know
the kind I want for
my family, I just
don’t know where to
-Lynn Woolums Smith
Hi Lynn! I actually hear this
question a lot, so you’re not
alone. In fact there are 161
searches every day for “how
to make money online for
beginners” and more than
700/day for “how to make
money online”…
Read through this post
carefully, and then see the
10-Step Checklist at the end
for getting started!
There are a number of ways
to make money online.
Options range from creating
your own product to sell
online, making money as a
professional blogger,
managing an online
community, developing a
content site on a hot topic –
just to name a few.
All of these are just various
ways to deliver content
online. Your first step will be
choosing a niche, which is
the market or topic you are
going to focus on.
Speaking of focus, with so
many options to make
money online – focus is key.
You want to choose a niche
and a business model, and
work on that one project all
the way from start to profit.
Don’t let all the other
options distract or derail
Once you decide on a topic
or niche, you should sit
down and map out a plan
for your
internet business
model. What market are
you targeting, and how can
you best serve that market?
This is the angle you want
to work from, vs the more
common: how can I make
the most money from this
market? (Most people get it
backwards and then get
frustrated when that doesn’t
work out for them)
See: How to Become a
Market Leader in Your
So you choose a niche,
create a blog or website, set
up social media profiles to
interact with your target
market on the topic, and
you create and share useful
content that will build your
reputation and readership in
that niche.
I can hear what you’re
“That all sounds great, but
how do I make money from
How to Make Money
Online (For Beginners)
The absolute easiest way to
make money online is with
Affiliate Marketing. You
don’t have to create a
product, set up a shopping
cart and merchant account,
do customer service, work
with clients, etc. It’s very
much like a traditional
commission-based sales job
where you earn commission
on any sales you refer.
The difference is that you’re
doing it online, and you can
do it from home without
ever doing in-person or
phone sales. You simply
recommend products and/or
refer people to specific
merchants through the
content on your website.
The method I prefer is
SEO Content, or
content that is optimized to
rank well in the major
search engines. People find
it when they are searching
for that, click through, and
buy what they need or want.
This works really well
because you write the
content once, and it
continues to rank well and
earn you money for years
to come. As long as you
maintain your search engine
“How can I make 3-4k
a month or more?
What steps will it
take to get there?”
I know this is stating the
obvious, but it should be
It takes time, work, and
being both persistent and
consistent. An online
business is the same as any
other business in that it
requires an investment on
your part to get it up and
running. The positive side of
online business is that it
takes a lot less time and
money than most traditional
offline business models.
Do these 10 steps, in this
order, to get started:
Choose Your Niche.
Register a Domain
Set up a Website or Blog
with WordPress.
Set up your Social Media
Download and read SEO
Fast Start (free).
Create SEO Content. Also