What you need to know:
- Money can create resentment when expectations are unclear. A person who repeatedly provides financial support may eventually feel that their generosity has become an obligation.
- When financial support continues without addressing the underlying circumstances, it can become difficult for the recipient to develop greater financial independence.
- A financial boundary is not necessarily a refusal to help but an understanding of what a person can reasonably give without compromising their own financial responsibilities.
The people closest to us are often the ones we find it hardest to have honest money conversations with.
Money has a way of becoming more complicated when it enters close relationships. A financial decision that would be easy to discuss with a colleague, business partner or service provider can become difficult when the person involved is a friend, sibling, parent or another relative.
The relationship brings emotions, expectations and obligations that are often stronger than the financial issue itself.
This is one reason financial accountability is rare among friends and families.
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The 9–5 and the struggle to stay financially wellThere is a common assumption that financial difficulty is primarily a consequence of low or irregular income. While income is undoubtedly an important determinant of financial wellbeing, it does...
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Why informal earners struggle with financesA significant percentage of Ugandans continue to experience budget deficits and financial vulnerability arising from unexpected expenses and income shocks.
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Don't send on this numberThis fear of losing new money to service old debt is what has granted currency to the phrase: “don’t send to this number”