I use my financial values to set my limitations. I have three children I want to put through college debt free. So that means I can't spend wildly or with disregard.
I've decided to keep working until my last kid is thu college.
Set up rules for when you will "give" not lend money. Never lend. My people know that I'll help with college. I'll help if they lose they job thu no fault of their own.
Once you finish paying for college you could reduce your life insurance.
My experience may be different than theirs, readers can identify with trying to save for retirement or their own kid's college fund. In truth, the name of the column, "The Color of Money," has less to do with my race than the fact that the color of money is green and it's green we all need to live a good life.
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