My wife'soldest son is one of these. several years ago in was in dire straits so I let my wife loan him some money. What I didn't know was besides the amount she oringinally asked about loaning him, she extended him three additional loans so he was in debt to us big time. There for many months he made a lot of excuses but made no payments to us.
Eventually he did repay us. I told my wife I was disappointed because the kid had learned nothing. It would have been better to take on an obligation only if one can pay it off and it is better to learn to budget and live within ones means than to make excuses and hope for a streak of luck that would enable one to pay off a debt in one lump sum.
I told my wife that he didn't learn his lesson. Well, this morning he called and says he on the verge of losing everything. His kid damaged a patrol car with her bicycle, he bought a truck but had to pay off old traffic tickets, he told a pay day loan, and now he is $4000 in debt but he can pay us back because he makes good money.
If he had learned to handle money like I asked him too several years ago when we bailed him out then he would not be in the mess he is in today. He asked for help. I said no.
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