Learning to Say No to Your Kids

As a parent, you need to help your kids find financial independence and keep them from taking advantage of you.

While channel-surfing on TV last week, I landed on a rerun of an Oprah show about "parents who can't say no to their kids." Curious about a topic that's in my bailiwick, I was soon absorbed in the tale of a mother who was being manipulated to a fare-thee-well by her three daughters.

The oldest, 23, was living with her husband and child in a house owned by her mother. The deal was that she would pay rent, but she had been in the house for four months without paying a dime.

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Janet Bodnar
Contributor

Janet Bodnar is editor-at-large of Kiplinger's Personal Finance, a position she assumed after retiring as editor of the magazine after eight years at the helm. She is a nationally recognized expert on the subjects of women and money, children's and family finances, and financial literacy. She is the author of two books, Money Smart Women and Raising Money Smart Kids. As editor-at-large, she writes two popular columns for Kiplinger, "Money Smart Women" and "Living in Retirement." Bodnar is a graduate of St. Bonaventure University and is a member of its Board of Trustees. She received her master's degree from Columbia University, where she was also a Knight-Bagehot Fellow in Business and Economics Journalism.