Comments on: Should You Take Financial Help from Your Parents?

By: T. Porter

T. Porter — Tue, 12 Aug 2008 14:19:26 +0000

to clerify what I wrote previously: I meant my parents struggle financially b/c my mother refuses to work and yet spend quite a bit of money leisurely. And I didn’t mention that they borrow money and use my sisters’ and my name for credit towards their own needs like cable, elcetricity, rent etc.

By: T. Porter

T. Porter — Tue, 12 Aug 2008 14:13:00 +0000

How do you all feel about having parents who refuse to help you financially just because they are struggling themselves. They have been trying to push my sisters and I on own own since we can remember, because they fail to take care of their own finances; not because of hardship but simply because my mother just will not work at all. I am 21 and want to go to school so genuinely, I pay cash out of pocket for community college b/c they don’t do their taxes, which makes me unable to turn in a FAFSA. That is the key is getting any type of schooling funding: whether it be grants, scholarships, or loans. And I have no credit worthy co- signer in my life to boot. What options might I have; any ideas anyone?

By: Veronica

Veronica — Tue, 24 Jun 2008 01:26:24 +0000

As one of those 20-somethings who moved out to go to graduate school right after college, I’ve been able to compare those who have stayed at home and those who haven’t. My friends who stay at home, living rent-free or close to rent-free have been able to sock money away to pay the loans they do carry or for future expenses. Those of us who moved out, had to fully fund grad school through loans and are now facing debt burdens of almost 100k will never get out of the hole we dug for ourselves. Honestly my fancy private undergrad school ended up costing me less than my city college public school…and I’ll be headed into a low paying public sector job. So moving into my old basement bedroom is on the agenda…

By: Money Under 30

Money Under 30 — Tue, 17 Jun 2008 02:30:42 +0000

I think you really hit on something GG – so many parents want nothing more than to help their adult kids and would see declining that help as ungrateful and hurtful.

I think that, as adult kids, how we accept help from our parents (whether with grace or with entitlement) defines whether that financial support will help us in the long run — or hurt us.

By: GG @ This Writer's Wallet

GG @ This Writer's Wallet — Mon, 16 Jun 2008 23:44:53 +0000

I have learned, not just with finances, that there are very few (there are those few, though!) things I can be dogmatic about. Reading your post, I totally agreed with you. Kids should learn independence and they should learn the value of a dollar.

Thing is, I’m 25 and live at home. And while I do contribute (work for the family company on the side for free), I’m pretty sure I’m getting the good end of the deal here.

My parents and I have talked about this (by my bringing it up), and they are almost hurt that I wouldn’t want them to help me. When I reimburse my dad for the cell phone bills, he acts a little confused.

For them, they worked so they could give. Not just to their kids but to a lot of people. I’m learning that they show they love me that way, and I show I love them by being grateful for the compromised giving that goes on.