Submitted by Several_Remote5464 t3_11ihbsm in personalfinance
I’m 32, only child, and have been financially providing for my mom here and there for a few years now when she’s in a tough spot. I’m fortunate enough to be able to pay for food, bills, or rent when needed.
She has a full time job as a bartender in a senior living community that is physically demanding (for a 70 year old) and living paycheck to paycheck (+ receiving social security). She has never been financially literate and has no savings in the bank. So when any issues come up, that’s when I step in. I’ve been trying to educate her on ways to save and live below her means but it is pretty impossible for her to save at this point. She doesn’t take vacations or spend money on clothes or anything extravagant. Literally just food, gas, and her bills.
Not sure how much longer she’ll be able to work in this job anand i want to start looking into any programs or resources available to help her financially when the time comes, literally anything that can help.
I’m nervous because my wife and I are hoping to start a family at some point in the next year and I’m not sure how I’ll be able to provide for my wife and kids and my mom who has no other support system.
Thank you all that are willing and able to help give advice in advanced!