You don't always need any help making dumb financial
choices … but these people might be inadvertently
rooting you on.
1. Your spouse There are many ways your spouse can
hurt your finances, even if she has good spending
habits. For example, your spouse has no credit history
because she got a full-ride scholarship to college and
paid cash for her car. When you jointly apply for a home
mortgage, you might be rejected for the loan or charged
a higher interest rate for a joint loan due to her lack of
credit history, even if your own credit is spectacular.
The shopaholic wife driving a couple into poverty is a
tired and stupid trope. In fact, hardworking spouses are
often the accidental cause of financial mayhem. If a
couple with kids is paying more in taxes because their
double income is putting them into a higher tax bracket,
they should do the math to see if it's financially more
profitable for one spouse to be the stay-at-home
parent. Fair warning: Discovering that you're worth
more to the family budget as a dependent on your
husband's tax return than as a respected professional is
an ego-crushing experience for wives who love their
work but make less money than their husbands.
Regardless of who stays home with the kids, it's worth
running the numbers to see if a double income actually
makes financial sense. My friends Katie and Marc
discovered a few years ago that they were spending the
equivalent of Marc's entire salary on childcare, gasoline,
and other related work costs. Marc, who made less than
Katie, decided to quit his job and stay home with the
kids. With Katie as the sole breadwinner, they fell into a
lower tax bracket, no longer needed the help of a nanny,
saved on gas money, and put less wear and tear on
Marc's car. As a full-time worker outside of the home,
Marc was only adding $2,000 a year to the family's
savings. As a stay at home dad, Marc adds $17,000 to
the family's budget.
2. Your kid Based on a survey by the U.S. Department
of Agriculture, the cost to raise a child born in 2013 to
the age of 18 is just over $245,000. Depending on your
income and where you live, this number could be higher
or lower, but the fact remains: having a child is the
single most costly thing that most people will do in
their entire lives. Although the high cost of having
children is common knowledge to just about everyone,
according to the Guttmacher Institute, 51% of
pregnancies in the United States are unintended.
Although many accidental parents are happy with their
unintended offspring, what this statistic says is that
over 50% of American families are just winging it with
their finances, and that's kind of crazy. Would these
same people accidentally buy a house for $245,000?
Okay, okay. Comparing the pleasure of parenthood to
the pleasure of homeownership is like comparing apples
to oranges, but I'm hard pressed to think of another
$245,000 investment that more than 6.6 million families
would fall into without foresight each year. The best
thing that parents can do to ensure the financial well-
being of their family is to plan their parenthood. When
you have children, how many children you have, and
where you raise your children all have a direct impact
on family finances.
3. Your parents While growing up with my parents' near
pathological, Scrooge-like tight-waddery was no fun,
I'm grateful as an adult to have parents who saved
enough for retirement. Even though the financial
downturn of 2007 knocked my parents' retirement fund
down by 45%, they still have enough money to live
comfortably for the next 25 years. Alas, my parents are
the outliers in this scenario. Many of my friends are now
faced with the financial double- whammy of supporting
both their kids and their newly poor parents. What I find
shocking is the number of young people forced into
supporting their financially irresponsible parents who
live extravagantly with no thought to how they will pay
the bills once they leave the job market. Even if you
hate your parents.

Source: http://www.scamfender.com/2014/12/the-9-people-in-your-life-keeping-you.html?m=0

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i partially agréé with u

@op, in case, we go c for morning.

all those factors you mention happen mostly in USA. When you come to Nigeria, consider Village people first. then all other factors can follow.

Oga ya fone no get space bar

Copy & paste things.
Pls try editing or better still modifying to suit Naija not forgetting to give credit to source.

I believe number one should be YOURSELF!

You for edit am small na for suitable reading! It looks jam-packed.

it is the truly hopless, that blame others for their misfortune.

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