[jackal]

ok so here is what i'm wondering. is there a place i can direct a couple of my employees to help them with some financial planning?

i have two employees (a married couple) that work for me. one is full time and the other only works a couple days a week but also has a second job. they have two children and two grand mothers living with them. they are in a unique situation where they actually rent their current place from my in laws and are paying significantly less then market value for their accommodations. I know one of the grand parents also receives a pension. so basically i have a pretty good understanding of what they are earning monthly.

the problem is they are always completely broke. always asking for their checks either early or on the cutoff date. they also frequently use that cash money place (we get calls to confirm their employment). i also know they spend money pretty frivolously.

this is an employee that has been working for me for almost 10 years. the last few years things have gotten much worse. clearly they are not able to save and i fear they will struggle to support their current lifestyle and really don't know if they have the ability to plan for the future.

posting this because they are asking to get paid tonight for the current pay period which hasn't ended and they don't want it in check. they are asking now for cash. (still legal and after taxes and stuff just in cash so they don't have to go cash the check or have money held by the bank until the check clears)

and before someone says pay them more, i'm paying them a very fair wage and they have had multiple raises over the last 5 years.

[tiger_handheld]

Financial Literacy Counsel Inc. | Vancouver Financial Counseling and Education (http://www.flci.ca/)

These guys do corporate workshops for some pretty big names in the lower mainland. Sounds like you have a small business so corp workshop might not work for you. You can call and see if they can do individual workshops.

No matter what workshop your employees attend, they have to want to help themselves otherwise there is no use.

[jackal]

yeah i'm a small business with about 30 employees. not to sure if that fits the bill but definitely on the right track. thanks.

[B!tch]

Top Rated Non-Profit Credit Counselling in BC - Credit Counselling Society of BC | Canada | No More Debts (http://www.nomoredebts.org/canada/bc/credit-counselling.html)

If you are experiencing money problems and are stressed by your debts, professionally certified Counsellors are available to help. For confidential and free credit counselling.......

[tiger_handheld]

Top Rated Non-Profit Credit Counselling in BC - Credit Counselling Society of BC | Canada | No More Debts (http://www.nomoredebts.org/canada/bc/credit-counselling.html)

If you are experiencing money problems and are stressed by your debts, professionally certified Counsellors are available to help. For confidential and free credit counselling.......


Credit councelling society is great and all but if the indivual has a monthly budget shortfall they will not help you. They can only help if your obligations are less than your take home pay. For most ppl if that's the case it's just an allocation problem.

[punkwax]

You've been giving inches and they are slowly and will soon ask for miles.. I would help them out one last time then say things are changing and your business can't afford to bend rules for them any longer. This is the problem with being accommodating. Stand firm and hopefully they'll learn to change. I hate to sound insensitive, but you shouldn't have to be concerned with their finances..

[quasi]

Been there done that with our family business previously. If I was you I would tell them no more advances no exceptions. You have good intentions but the best thing you could do for these people is stop helping them, it's like cutting off an addict and letting them hit rock bottom.

[bcrdukes]

I'm sure there are inquiring minds regarding your intentions, but is there a reason for your altruism?

[dinosaur]

Nope No No way Don't Do It Back Way Never Nope Nope Nope NO!

Do not get involved at that level, dude. It will come back to bite ya in the end and if something ever comes up where you need to fire one, it will be a lot harder.

You can not make people who are bad with money good with money. Just doesn't happen.

I have been in similar situations....someone who rents from me is also an employee of mine. It is a little like shitting where you eat....its never a good thing.