The phone call can make any parent’s stomach drop: your college student is out of money, rent is approaching, and their bank balance is nearly zero. Your first instinct may be to open a payment app and transfer enough cash to make the problem disappear. Sometimes that’s exactly what needs to happen, particularly when food, housing, medication or another genuine necessity is at risk. But “I’m out of money” can describe everything from an unexpected $700 car repair to three months of spending $200 more than planned every week. Before deciding how much to send, figure out whether you’re dealing with an emergency, a budget problem or both.
