More siblings are moving in together because of hardships like job loss or divorce.
This phenomenon could put a strain on family relationships if boundaries aren’t set, according to an article on Business Insider.
"Everyone has a different threshold for when they feel taken advantage of, but as soon as you sense (your sibling) isn't being appreciative or doing anything to change their situation, then it's time to set boundaries," Suzanna de Baca, vice president of wealth strategies at Ameriprise Financial, told Business Insider.
If you’re not able to set aside money for emergency savings or retirement, then there is a problem, according to the article.
A timeline should be set for when the sibling will move out, which will help motivate both siblings toward goals, de Baca told Business Insider.
Loans should be treated like gifts in order to avoid conflict and disappointment
"Treat a loan like it's a gift," de Baca told Business Insider. "If you get repaid, great, but don't hold out for it. It usually won't happen in families."
Following up on a sibling on paying bills is crucial if any agreement is made, de Baca told Business Insider.
EMAIL: firstname.lastname@example.org, TWITTER: @joeyferguson