Tag: family

Black Tax: When a young person shares their income not only with their immediate family but with extended family as well, this means that they financially support their own kids, their parents and oftentimes aunts and cousins as well. It is the sandwich generation.

In my personal experience, black tax has not been burdensome, I give my parents money from time to time to help out with just a few things. My oldest sister might have a different recollection!

Read More »

There has been much talk around black tax and the negative effects it can have on one’s financial journey. Most people not only feel obliged but are also expected to help out parents, siblings or cousins. Although not an easy topic to write about since everyone’s situation is completely different, here are a few tips on how you can still work towards financial freedom while helping family out.

  1. Communicate

Communication is so important in any relationship,

Read More »