Tough financial times can cause stress within families
A ccording to a recent poll by Paypal, 10 percent of respondents said the role of the primary breadwinner has shifted in the last six months due to salary reductions or job layoffs. Money now outranks sex as a source of marital conflict by a 2 to 1 margin.
Many adult children, affected by troubles in the job or real estate market or seeking to support a struggling business, look to their family — usually a parent — for financial help. Sometimes, these are very short-term loans, but often the amounts or the time frame needed are much more substantial. The World Bank estimates that informal gifts and loans between family members total more than $300 billion worldwide.