I have a large sum of money that was donated to help a woman that I work with. How would you present the money to this woman? Would you divide it into giftcards (Wal-mart, and Gas) would you give her the money?
The problem that I am having is this woman came to me and told me that she does NOT manage money very well. I want her to understand that this is a once in a lifetime opportunity to get this amount of money at one time. I am going to sit down with her and help her with her finances...
I just don't want her to blow this money...can you offer any suggestions on how you would handle this situation?
Thank you ahead of time for your helpful advice!
2007-12-14 19:39:29 · 7 answers · asked by Anonymous in Entertainment & Music ➔ Polls & Surveys
Your suggestion sounds reasonably good. Sit down with her and help her work out her monthly expenses. I suggest you have the costs broken down into category such as food, gas, electricity and deal with the essentials first. I would then suggest you simply give her the amount on a monthly basis in order for her to meet all the necessary costs and avoid the possibility of her going through the money in a lump sum. Good luck with this!
2007-12-14 20:54:15 · answer #1 · answered by mandbturner3699 5 · 1⤊ 0⤋
I would get a financial advisor to suggest suitable investment plans so the money is not all spent at once. There should be enough money issued to her to cover her budgeted living expenses and incidentals on a regular basis. Maybe she would like a nice holiday! She is lucky to have someone like you to look out for her. Good luck.
2007-12-15 03:51:15 · answer #2 · answered by **amber** 4 · 1⤊ 0⤋
Think about her family needs and divide portions of money into different cards maybe even be generous enough to get a card wallet for each card. Then get maybe get a gas card, a shopping card, a car wash card. It will help lots!!
P.S. my step mom works for a thing called WOKC wipe out kids cancer. I help a lot with gift packets and fund raisers. If you dont believe me than go to www.WOKC.com
2007-12-15 13:14:58 · answer #3 · answered by Zoey B 1 · 1⤊ 0⤋
I would put half of it into sensible gift cards. The other half she may need for bills. Like utilities, rent, and things like that. Also, you could have a contract made up, to where if she accepts the money, then she has to provide receipts to show how she spent the money.
2007-12-15 03:46:48 · answer #4 · answered by jadedragon1979 3 · 2⤊ 0⤋
I would give it to her through gift cards!! She already told you that she doesn't manage money well so you have your own answer!! She may not spend the money wisely if you give it to her in cash!! Giftcards are the perfect solution to your problem!
2007-12-15 03:43:56 · answer #5 · answered by ♥♥Mommy to 2 Divas♥♥ 7 · 1⤊ 1⤋
Tell her it was just that...donation, and that you were offered the job of handling her finances and that she has to trust you.
2007-12-15 03:43:59 · answer #6 · answered by Anonymous · 2⤊ 0⤋
Long term investment with interest credited to savings account annually
2007-12-15 03:44:17 · answer #7 · answered by Anonymous · 3⤊ 0⤋