I was in my early twenties when my dad ran into financial difficulties. The debt he accumulated was huge and I couldn't figure out how I could help to contribute towards our family's daily expenses. I was depressed and often cried myself to sleep. My dad loved his family dearly and had always wanted the best for his family. He was a smart guy but never had any experience in dealing with finances. From that day onwards, I learnt to be thrifty and wowed not to run into a similar fate like my father. I saved hard for every cent earned in the hope that I can have a better life with no financial implications. Despite having an affluent childhood, I was adamant to change, from being spend-thrift to a sensibly economical person. But I don't see that in my siblings and how they had learnt from this bitter lesson. They continued to spend lavishly by going abroad for holidays, indulge in expensive clubbing, dining out etc, etc. Whenever they run into debts or could not cover their expenses, they would call me for help. I would usually chip in to see what I could do for them and without hesitation lend them whatever the amount they needed. The funny thing is I couldn't see that I was indirectly exposing them to more danger. Over time, I began to hate myself for assisting them in such a wrong way. To stir myself away from this pitfall, I have decided to halt all monetary assistance to them except on humanitarian grounds.I have constantly reminded my children to save for rainy days and instilled in them the habit of savings, never to indulge in expensive things that they could ill afford and to spend within their limits. I hope this invaluable advice would sink in with them.
