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For questions relating to personal finance issues within families, e.g. parental benefits, marital finances, cost-sharing, etc.

23 votes
5 answers
10k views

Should you co-sign a personal loan for a friend/family member? Why/why not?

I know someone who was recently asked to co-sign a hefty loan by a family member. I don't know what I'd do if I was put in the same position as the one asked. What are the risks? …
Nat_Rea's user avatar
  • 8,713
8 votes
3 answers
241 views

What are some ways your family has saved money via resource-sharing or hand-me-downs?

Another way we save money among family (and friends) is that we each buy a certain type of magazine - say OK! Canada or US Weekly (or say MoneySense, whatev!) … What are some ways your own circle of family and friends have saved, or helped each other save, money? …
Nat_Rea's user avatar
  • 8,713
13 votes
4 answers
1k views

Where can I find an example of a really basic family budget?

It's about time that I took my family's finances seriously and built a budget. I'd rather not start from scratch, and am thinking, "surely, I can benefit from someone else's work?" - can someone plea …
Nat_Rea's user avatar
  • 8,713
7 votes
4 answers
599 views

How do you save money on clothes and shoes for your family?

I feel like I'm constantly buying clothes, shoes, boots, jackets, hats, etc. for my kids, because they grow so fast! I try to re-use via hand-me-downs, but are there other ways I could be saving mone …
Nat_Rea's user avatar
  • 8,713
9 votes
2 answers
422 views

How do you make sure your child's birthday party doesn't break the bank?

I've been to childrens' birthday parties that clearly cost in excess of $500 when the price of the venue, activity, food, cake and loot bags are factored in. I don't want to spend a lot in order to e …
Nat_Rea's user avatar
  • 8,713
25 votes
8 answers
8k views

Why do people take out life insurance on their children? Should I take out a policy on my ch...

I've always found those flyers that the schools send home in September contemptible. But maybe I'm the one in the dark...? If the purpose of life insurance is to replace a wage-earner's income in ca …
Nat_Rea's user avatar
  • 8,713