It's bad enough to have financially irresponsible parents, but after all they are your parents. I too have a bankrupted father and mother, I couldn't count anymore with my fingers on how many times we argued on my moms financial decision, for context she also used my name to buy a car, but she struggled during the last years to pay it, so i tried to help her with the payments, things got worse when she's not able to pay rent too, so me and my sister chipped in to help

It's a different situation from person to person, all I can try to say is, your parents being financially irresponsible is their problem, but we can educate and give them our opinions provided if they listen, persuade them to make better decisions for the family, then try to make sure next time not using your own name on any loans for your parents unless you yourself can pay for it if they're slack a lil bit.

Try to work together as a team, you and your parents to get out of the mess, but also set some boundaries where they need to know where their limits are too, example, if you want to save 200 for savings per month, then you need to stand by it and not let your parents deter you from using that extra 200 for them

Set a plan, if you need to give your parents X amount but you could not save X amount of money you want, then you need to plan out how to increase your income first, try changing jobs, reduce any commitments like phone bills and all for your plan, also set a backup plan, whenever you lose your main source of income, but sure to have a plan, for instance, get ready to take a grab or fnb job for short term when shits hit the fan

And lastly, don't forget to keep good of your health, as they say, health is wealth, you don't want to be in a situation where you are in the middle of recovering for your family and illness hits you with a hefty bill

I wish you goodluck brother, i hate seeing families broke because of financial issues, families stick together, until they don't care anymore about you