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When a family member or close friend needs financial help, your first instinct may be to do whatever you can to ease their pain.

But instead of handing over cash or a credit card, financial experts say it’s important to look at your own finances first.

“It’s an emotional choice,” says A.B. Ridgeway, a certified private wealth advisor in Lafayette, Louisiana. “Let’s step back and make sure we protect ourselves, too.”

Here’s how you can help a loved one who needs aid without damaging your own financial stability:

Consider your own finan

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