GI Jane Finances

July 5, 2009

Family setback

Filed under: Uncategorized — gijanefinances @ 7:43 am

My sister got laid off two days ago from a $60,000 year job.  Even though she saw it coming a couple of weeks ago, the job loss seems to be making her depressed.  She is planning to fly to Jamaica on the 14th for a week.  Unfortunately, her debt load is in the six figures–with a student loan in arrears.  On another note, my brother’s cell phone is disconnected due to running up his bill prior to the China trip.  I was thinking about sending some money once everything settles down from my money in 10 days.  I also want to send my sister a care package.

Gosh, my siblings financial situations always seemed precarious.  No retirement savings and debt.  My sister is 36 years old and brother, 30 years old.  I do not want to rescue them out of the current problems with money.  Especially after plowing through debt and unloading a costly second home.  My emergency fund is at $10k right now.

I am much closer to my brother.  So much so that I sent him a used  laptop several months ago.  I wish they had solid financial footing and resources.  Sis was and still is interested in maintaining a facade of wealth or at least middle class.  When her car was stolen, a car that she never paid my mother for, I had to practically beg her to not buy a new car.  She held off for about 7 months.  But now she has a car payment, credit card and student loan payments the size of a mortgage.  Bill collectors are calling my parents home routinely looking for her and my brother.

What to do, what to do?

GI Jane

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