(Closed) NWR: Do you help your parents out financially?

posted 5 years ago in Money
  • poll: Do you help your parents out financially?
    yes : (46 votes)
    29 %
    no : (113 votes)
    71 %
  • Post # 3
    Member
    5479 posts
    Bee Keeper
    • Wedding: August 2012

    The only time I’ve really stepped in to help was when my mom couldn’t afford vet care for her diabetic cat.  She gets pets and loves them but can’t afford high quality food or veterinary care should an emergency arise.  She can handle annual appointments, but she had a really old cat who was walking funny & peeing all the time, and sometimes having accidents.  She was talking about putting him down but I told her he might have diabetes.  She couldn’t afford the vet visit or the lab work so I paid for it, and also bought 6 months worth of insulin.  I told her I can’t afford to buy insulin indefinitely so she’d have to figure something out, but I can get it started.

    I think at that point, I was looking out for the animal’s best interest and not so much my mom.  She never has any money, and I’m like “Sorry, I work full time to pay my own bills and to buy my own stuff, not to give it away to someone who hasn’t worked in a decade”… harsh, yes, but she’s not terribly responsible and me giving her money only enables the behavior :/

    Post # 4
    Hostess
    7561 posts
    Bumble Beekeeper
    • Wedding: January 2013

    Does his mother still take care of the grandmother? Can she apply for government assistance? 

    Post # 5
    Member
    924 posts
    Busy bee
    • Wedding: January 2013

    No, but my MOH has taken care of her parents since she was 15.  Curently, she is paying her mom’s rent every month and up until recently her dad was living with her.  It’s not so much that she helps, but the fact that they feel entitled to her help.  When her parents split up last year and her mom moved out of the house she told MOH that “at least rent here is only $450 instead of $600 a month.”  This while MOH is 6 months pregnant with a second child and really can’t afford the help she’s been providing.  She has three other siblings and only one has ever helped out to any real degree. 

    Post # 6
    Member
    1765 posts
    Buzzing bee
    • Wedding: September 2012

    I don’t help out my parents, but I would if they suddenly fell on hard times. I don’t expect that to happen since they have quite a bit in savings & investments. But I would definitely help them out if they needed it, just as they would help me if I needed it. 

    Post # 7
    Member
    1114 posts
    Bumble bee
    • Wedding: July 2013

    I’ve never ‘helped my parents out’ as such.  I’ve bought groceries for them, and when I lived at home I paid them keep.  If it ever got to a point where they needed some financial help of course I’d help them out however I could, but I don’t envisage that ever happening.  However, I do expect to be making more than my dad within a fairly short time span (I’m university educated, he’s not, and he’s been working hard in the same job for 25+ years) so I’d like to be able to send them on holiday, perhaps for their 30th anniversary in 5 years’ time, basically to say “thanks for being my parents and for being there for me”.  I know that when we were kids there were times when they were really struggling for money, but they never let us suffer.  They’ve never been able to do things for themselves, so I’d love to be able to give that to them.

    Post # 8
    Hostess
    2556 posts
    Sugar bee
    • Wedding: May 2014

    I don’t, but if they ever needed me to and I was in the position to do so, I wouldn’t think twice about doing it.  Well, as long as it wasn’t putting me out financially and was just a temporary solution, unless the circumstances were extenuating (i.e., my step father passing away).

    Post # 9
    Member
    900 posts
    Busy bee
    • Wedding: November 2011

    @ms_protea:  I understand you might not want to share details, but I think a lot of this depends on how much money you make vs. how much the parents make, where you live, etc.  I think if you can afford to do so, and your parents need it (assuming you have a good relationship and they work but still struggle to make ends meet) then I think you absolutely should do what you can to help.

    My dad and his other two brothersgave my grandmother a few hundred dollars each a month their entire adult lives, because my grandfather had passed away, my grandmother only had an 8th grade education and had worked in a button factory, but couldn’t really make ends meet, even though she lived *very* simply and frugally.  I would do the same and I know my FI plans to buy his parents a house for their retirement for sort of the same reasons–and I love that idea and am totally on board. 

    Will his mother be able to pay bills and buy groceries if your FI doesn’t contribute?  Can you two afford to help, but cut down in other areas in your life, and still save for a wedding?

    Post # 10
    Member
    3771 posts
    Honey bee
    • Wedding: August 2013 - Brookfield Zoo

    I don’t know, but I absolutely would if they needed it!  They’ve given me so much it would be unthinkable to not return in kind.

    Post # 11
    Member
    1064 posts
    Bumble bee
    • Wedding: June 2012

    No and i don’t think they will ever need it. Though i am willing to support them in any other way!

    Post # 12
    Member
    3357 posts
    Sugar bee
    • Wedding: May 2012

    in the Chinese culture, the children always send an amount of money home to the parents to boost their nest egg. I personally haven’t started this, and am not sure whether I really want to. Rent and monthly expenditure is already a lot as it is.

    Post # 13
    Member
    440 posts
    Helper bee
    • Wedding: November 2012

    My father is self employed and is currently in a bit of a sticky with money to pay for the mortagage and while I’m not in a position to help, I would if I could and it pains me that I’m not able to help more. If it came to the point wherehe my stepmother and sister’s needed a place to stay I’d welcome them with open arms and let them stay as long as they needed.

    How could anyone not?

    Post # 14
    Member
    11234 posts
    Sugar Beekeeper
    • Wedding: August 2013

    Yes, I used to, because my mother has no idea how to manage her finances. In fact, the only time she contacts me is to ask for money. I finally told her that I could no longer afford to give her money when I got laid off a couple of years ago, while she was employed. It’s not my responsibility to pay someone else’s bills because of their poor choices. I was laid off for 6 weeks in June/July, and she managed to make her first contact with me this year right in the middle of that, asking for money, while I was unemployed and have a wedding, other normal bills, and a car payment. I kept all of my bills current through a year of unemployment and then the 6 weeks of unemployment this year.

    Post # 16
    Member
    3618 posts
    Sugar bee
    • Wedding: November 2011

    Where to draw the line is definitely something you and your FI need to sit down and discuss. In my culture (I’m chinese) it is very common that there is no line. I have friends who are married with their own kids, but either still live at home with their parents, or moved their parents into their home because they couldn’t afford to help their parents out with their rent/mortgage AND their own. It definitely isn’t an ideal situation, but it is what it is.

    The topic ‘NWR: Do you help your parents out financially?’ is closed to new replies.

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