CNNMoney Article: Financial Abuses Of Deadbeat Parents

As I always do, I began the morning by reading thirty or so websites (it is how I make sure I am LEARNING something every single day).   I ran across THIS ARTICLE from CNNMoney.   You should read it – especially if you have deadbeat parents/siblings/children.

Here are some of the statements made by writer Blake Ellis that stand out to me:

  • When a parent uses their own child, the risk of prosecution is lower because of the family ties. Talk about ultimate manipulation!
  • If a parent has a child’s social security number, they can do almost anything — no matter how young the child is — because a credit check does not reveal a person’s age. Unbelievable.
  • Because of the availability of personal information to close family members, more than half of identity theft cases are typically committed by parents. Another potential result from being a poor manager of money – robbing from one’s own children.

Let’s be clear here – it is THEFT.   Parents are ROBBING THEIR CHILDREN because they are mismanaging their own finances.   Don’t believe it can ever happen to you?   You would be surprised what people will do when they become financially desperate.

Have you known someone who has experienced this?   What was it like?

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1 Comment

  1. Terri McDonadl on June 14, 2010 at 4:45 am

    I have 2 family members that have taken money from their children and justified it in their minds as needing it for groceries, bills, etc. , when in truth it is just their lack of self discipline that keeps them a part of the financial woes of which they complain. Both of these family members have experienced other addictions in their lives and so I wonder if the “high” they get from spending is associated with their addictive personalities, as well.
    I also think that relatives and friends who constantly bail them out financially only contribute to the problem and are actually perpetuating bad behavior.
    I believe wholeheartedly that God will not bless you with a million dollars if you cannot manage a hundred dollars.

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