Sometimes it is difficult to stand back and watch someone make poor financial decisions. Money can be a very sensitive topic to many people, especially if they are not doing well financially. There is no easy way to tell someone they are messing up. These are people you care about and want to see do well. Their mishaps are obvious to you as you look from the outside, but not so obvious to them being on the inside. A good portion of the time these people do not have financial discipline.
First, you need to establish why you feel the need to help this person. Most likely it is someone you care about, which makes the truth that much harder. Second, you need to determine the right approach to present the message. It might go something like this, “you are recklessly spending your money and need to think about your future”. Depending on the person, he/she might not receive the message well even if your intentions are good.
Today it is too easy to get mortgages, loans, credit, etc… It becomes harder and harder each day to maintain financial discipline with all the temptations in this world. Cars, houses, boats, vacations, jewelry, technology, and the list goes on. I often would like to purchase a new car, but know not having a car payment is more beneficial to my future. I often dream of luxurious vacations, but know investing that money instead will go much further in the long run. We must stay discipline when it comes to these temptations because they are not as important as we think.
I have come to a conclusion, that we may not be able to tell others how to live their lives, but can tell ourselves. We can decide our own futures. Others need to decide for themselves too. It is hard to see others fail, but sometimes we have to let it happen.