So, my mother, who is currently in her 40s, is sort of going down the wrong path financially. She has nothing saved up. She receives child support for my two brothers AND receives government aid because one of my brothers is mentally disabled. She, her boyfriend and my two brothers live in a very small 2-bedroom apartment in a very tough neighborhood. The older brother is about to turn 18 and is going away for college, while the younger (mentally disabled), just turned 14.
So in short, she is making roughly about $1800 per month from both the child support and government aid and another $500 per month from her part-time job. I don't know how much her bf makes. I have been giving money to my brothers to buy clothing and tickets to their prom/promotion dances etc.
Anyways, she has made some pretty stupid decisions given her situation. She just recently bought a new car with a $600 per month payment and she likes to blow her money on materialistic things. Like last week when she bought a new $400 Coach purse, when my brothers are walking around with 2-year old shoes. When I confront her about it, her argument is "I never had the chance to live my life because I was taking care of the three of you when you were young".
Okay, I get it. She wants to live her life, but one day, when she's not able to work, or when the child support and government aid runs out, then what? No retirement or anything. Who will pick up the tab from there? I know I have at least 20 more years until she is unable to work (hopefully) and of course I will take care of her when the time comes, but I can't help but think about the financial and emotional burden of having to sustain her because she never saved anything.
I have a family of my own to take care of. Any advice?