My sister, who lives two time zones away, has asked me to step in and help with her finances in an effort to make her way out of trouble she is in due to gambling addiction. Basically she has asked if I can manage her finances and reduce access she had to her own money so that she can begin to pay back borrowed sums of money and get back on her feet.
She has a good job and makes enough money to cover bills but the money ends up at the casinos before it gets to her bills. I have thought of trying to implement a sort of envelope system like I used years ago to get myself out of debt. Maybe we can change her direct deposit to an account that I have access to and set up auto pay for all of her normal bills. I then could transfer funds to prepaid credit cards each pay period to cover out of pocket expenses. After establishing an emergency fund we begin to repay the many people she has borrowed money from to support her gambling. What am I not considering? Does anyone have better ideas?
Submitted January 20, 2021 at 09:00PM by Llegoelbrujo https://ift.tt/2NkaMDz
