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A person that is a financial drain. Would you cut them off?

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There are relatives and possibly, partners that we have who are financial drains to us. Their hobby is to bill you in one way or the other. Do you cut off such people that appear to be financial liabilities completely from your life?
 
The relationship can still be maintained but I will tell him/her honestly that I will not help him/her every time.
Yes, that's the way to go. Continuously giving to someone who is unable or unwilling to help themselves can lead to burnout and financial ruin.
 
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