Understanding your own finances before supporting aging parents

Today, millennials give their aging parents an average of $18,250 in financial support each month for basic living expenses like food and housing. With student loans, credit card debt and a mortgage of their own, how do millennials balance their own finances with the needs of their parents?

In today’s episode of Your Money Minute, I talk about steps you can take to better understand your own finances — because you can’t help anyone if you aren’t able to help yourself. I walk you through a few considerations you’ll need to make about your own finances as you determine how to best support your parents.

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