This Screams S.T.U.P.I.D.I.T.Y.

[Music] brought to you by the every dollar app start budgeting for free today today's question comes from Lucy in Nebraska my husband's daughter and son-in-law wants us to get a mortgage on a house for them our house is paid for and we have no bills but we're on a fixed income they want to keep their house they have now and rent it out to pay the mortgage that they want us to get he's a cop and she's a firefighter we cannot afford a mortgage but my husband is considering and I'm not in agreement with this plan what do I do man Lucy yeah I mean I would agree with you I wouldn't be in agreement with this plan either and with you and your husband yeah I mean I think continuing to sit down and understand and unpack why you're not in agreement and it's not pointing fingers at him saying well you you you this is talking about you and what and your desires your fears what you are worried about in this and just the simple math of even though yeah you said you guys your house is paid for and you have no bills but you're on a fixed income I don't know if you're working towards retirement or what that looks like but realistically running these numbers out even for a decade right the next 10 years um and what the reality is for your situation because I do think some parents the the heartstrings get tugged so deeply that sometimes you lose the reality of your situation and that's maybe what your husband's doing since it's his daughter um but I would be looking at not just the emotional side but also the number side with him um a lot going sometimes it helps to reframe the proposal and use words that explain what this actually is honey your daughter and son-in-law who have two good jobs want us to borrow money so they can have a rent property that's exactly what it is when you say it that way it sounds dumber than crap cuz it is dumber than crap that's why it sounds that way instead of like oh we're helping them get a home no you're not they have a home they want a rental property and they read this and some stupid thing on the internet to go to their retired parents to get a mortgage why can't they get a mortgage they both have a job oh wait they haven't been paying their bills on time and their credit is bad oh hello yeah this is this just screams stupidity really loud like with a capital St t u p i d say the cheer with me everyone give me an S give me a t seriously oh no don't do this absolutely and here's what happens at our house uh we start with trying to reason and talk things through and when one of us just absolutely is not going to do it the heat just gets turned up and so our rule is um that if we're both not on board we can't do it and uh you're not on board and you're not going to get on board please don't get on board please get through the fog of this yeah and it's not what do his kids need they sell the house and they get their own mortgage and not only is it not good for you Lucy but this is a disaster waiting for them like this could set them up to fail in a major way too so it's it's on both ends not great even though he feels like he's helping it's actually putting them in a pretty dire situation having to float a mortgage through a rental property not good not smart yeah you're buying them a rental property no absolutely not heard this on Tick Tock create your free every dollar budget today the simplest way to budget for your life