Here’s the full situation. My parents are successful, self-made people. As soon as I was old enough to get a minimum wage job, I was working full-time in order to learn the value of work, at the recommendation of my parents. I worked hard, and put it all in the bank. In school as motivation/ to save money for university, my parents would pay me a certain amount of money for grades over 85%. Through a combination of work and excellent grades, I went in to first year university with $30 000 dollars in the bank. My Fiance (BF at the time) and I had been dating 8 months, (we’d known each other since we were 13 – he told me once we were mature enough that we’d work out in the end and that he would marry me). We knew this was it for us, and so we chose universities that had both our programs. We got accepted everywhere and made our final choice.
Now here’s the fun part. My parents didn’t want me in residence, and have been planning – my whole teenage life – on getting me a condo for the duration of my University career. His parents had the exact same intentions. So my dad sat us down and said “let’s not beat around the bush – spending money on two condos so that the two of you can spend all your time essentially living at one or the other would be ridiculous. We will buy the condo for both of you”.
And so at 18 and 19 years old respectively, we moved in. We pay them $750 a month (combined) to help with mortage payments, and we pay all our own bills, gas money for our car, insurance for our car, and grocery needs.
This being said, my parents do still give me money based on courses in University over %80 , which I take full advantage of as I am an excellent student. I also work for my parents at their company in the summers and on holidays, saving up money for the years to come. My parents do pay the lease payments on our car.
My FI’s parents are of the belief that until you have a full-time job, you are not self-sufficient. They wanted him to work whenever he could, not so that he could contribute to school or living expenses, but so he could save up for other things – such as my engagement ring. My FI’s father, a frugal man, and my FI’s brother all went with him to buy the ring – and both of them, once they saw the ring, had zero doubts that it was the right ring at the right time.
This is our situation, it is unique, but just because it isn’t what someone else might do/be able to do, doesn’t mean that it is wrong!