Kinship networks play an important role in sharing risk under insufficient social security. We examine the heterogeneous risk-sharing networks and their impacts on household finance. Based on a staggered DID design, we find that households under negative shocks obtain a larger extent of social capital from extended family members with blood ties and geo-proximities, similar income positions, and lower uncertainty exposures. The vehicles of risk-sharing differ across networks, and direct monetary transfers over quasi-credits are facilitated by altruism and social norms. However, over-reliance on risk-sharing networks reduces willingness to engage in life-cycle financial planning and dampens long-term financial performance.