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Ask Dave

You Can’t Fix Stupid

Two things scare Gina ... her daughter is about to go into big-time student loan debt; and she doesn't care.

QUESTION: Gina’s daughter is about to go into a huge amount of debt to get through an out-of-state college, about $80,000 of debt to get a $25,000 job. The daughter just says she doesn’t care about the debt and Gina is trying to run her life. How can Gina talk to her about it?

ANSWER: I don’t think she can even get those loans without you signing them. I’m not going to participate financially in her stupidity. She’s going to do it my way to use my money. I do this with my own daughters. My rule with money is that I don’t help people make a mess with their lives. If they do that, I’ll still love them, but we’re not going to cause them to do that. If I can’t guide her to make a wise decision so that she makes a smart decision as far as you’re concerned, then my money won’t follow her. Do it out of love.