when a person is in debt they can do one of two things, or a combination thereof: 1) stop incurring new bills and pay off the old, or 2) get a second job to pay them off and eat beans and rice till they're paid.
Most people want their credit card to be half of what they're allowed to use and the purpose is to keep their good credit score. You want to pay her debt but if you pay it off for her (which would be at a discount) then the bank will close her credit card and she will have to start her credit all over again, so in reality if you pay her debt off you hurt her.
And never pay the bill to the bank itself, instead give your mom the money you want to put toward her bills. Now if she uses that money for something else you know she's not trained in being thrifty and therefore will immediately run up a new bill after you've paid hers off so your purpose to make her responsible isn't working.
You can certainly give her $100 and say "here's money to pay on your credit cards" and see if she does that.
On the other hand if you are working and still living at home then you need to be paying her rent and paying for your electric, your phone, your laundry, your water and your food (as well as your own bills for your vehicle). So if you're not doing that then that's why your mom is hurting. Start now.
Do you live with your mother? Could you live with your mother? If your mother is not irresponsible you could pay off your mother's debt and save money by not enriching some unknown landlord. {Does your mother have some kind of income? How much is her house worth? [ a HELOC is much cheaper than cc debt, and would not ensnare you if that is what you feel might happen. ] }
Alex and 2013 both have good answers - meaning you need a crystal ball so you can look 5 years down the road (and, in a way, into your soul). Good luck.
Your mother is a grown woman. You have learned from her mistakes and did not follow in her foot steps. Where your offer is a kind one- it is one because it is half hearted you will resent later. The moment her debt starts to creep back up again ( and it will) you will get angry she did not change her ways.
This is your money- you saved. You earned it. It is yours. The day will come that you will need to support your mom in her old age. But unless you focus on your goals and your needs now, you will never be able to be there for her when she really needs you.( when she is 90 and needs a place to live)
My step brother is the kindest man I have ever known. He inherited a large sum of money from his Grandfather. He took that money and paid off all of his moms debt including her house and cars as a way to thank her for all she did for him. 10 years later she is still under a mountain of debt, she lost the house because she took more loans out on it and he is struggling to buy his first home and take care of his wife and baby. The money was wasted when it was meant to give him a head start. He no longer talks to his mom.
It depends why she got into the debt. Irresponsible or something else? I paid off my mothers after she got into debt because my step father lost his job in heart of recession in 09. She was just trying to stay afloat. She has an 800 credit score. Not irresponsibility. Family helps family. Was glad to do it. She helped me pay for college.
Now i have a cousin whos in debt up to his eyeballs and he still buys and buys and buys. Amazon orders every day! The thought of helping him out makes me laugh!
Kids should not pay off their parents ' debt. No, let her continue to pay off her own debt, even if she is doing it over time. Save "your" money. At some point, you will need it. Also, people who are in debt are usually in debt because of their own poor choices, stupidity, or because they ripped off someone and were sued. Your mother 's financial situation is her business and hers alone to deal with.
My grandpa used to have a saying, "Every tub sits on its own bottom". Take care of your own business, and let her take care of hers. You will have plenty to do to take care of your own problems. She's a big girl now
Listen to 2013 answer.
