If an older relative seems to be spending all of their savings and running up a lot of debt, it's not necessarily cause for concern. As long as you don't cosign any loans or credit card agreements, you won't be responsible for their debt. Carmen Wong Ulrich explains when to worry about an older relative's spending habits.

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Watch Carmen Wong Ulrich's 'On The Money' Saturdays at 8PM ET on CNBC! Find more information on coping with the economy with our Bail Yourself Out resources.