I've been watching a good friend of mine over the last year gradually self-destruct financially, with all of the ripple effects that go along with that.
He had a moderately successful business with a partner for several years, and was able to earn a good living through it, still had a good 50 k in debt and no assets, though. Last year he suffered a burnout, and sold his share of the business in January this year. He came out of it okay, paid off his debts, and had an additional 50 k to play with. He decided this would be his year to pursue his dream project that would make him a millionaire.
A month after leaving his company, he financed a new car for 45 k. Then went on vacation with his family out of country - three times in 2019. All the while having no income. Burned through the business sale money by July, and took a bailout from his brother in law for 30 k. That's now also gone, with no income still a year later, and currently pursuing plan F (A through E have all come to nothing). But, no worries says he, Plan F will definitely succeed, and by February the money will be coming in big time. Right. He'll just take out a loan to tide him over until then.
I've had some blunt talks with him - (along the lines of get a job you goof!), but he's totally resistant and it wasn't at all well received. He's deeply religious, and sees this all as god's plan for him, and he has faith it will work out.
Totally wild to watch it all happen when it's so eminently avoidable with a bit of sensibleness and a good action plan. His marriage is falling apart, his health is deteriorating, and his other friends are bailing one after the other. I expect he'll hit me up for money soon enough, to which the answer will be a strong no.
What do you do with friends bent on self-destruction? Let them crash and burn, and then help them back up afterwards? Try to break through the denial with reason, with a big stick if necessary? Tough one!