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Should You Accept Family Money?

Prairie Eco-Thrifter

Daughters and sons of very wealthy families sometimes want to disown the family wealth in order to prove themselves. Sometimes parents will offer temporary funding to tide the family over in times of unusual circumstances (such as job losses or extreme medical expenses, etc). I wanted to prove myself.

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Meet Jackie. She and Her Husband Paid off $147,000 in Debt | Debt Free Stories

Family Balance Sheet

We also went through multiple job losses, surgeries, huge car repairs, etc. We paid for braces, college tuition for my son, and did fun stuff like traveling while we were paying off debt. They ranged from a low of about $2,300/yr (no zeros missing there!) to a high of maybe $80,000/year. We hit everywhere in between.

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