Do You Fix Your Parents Money Problems?

singleguymoney · 07-13-2009, 02:53 AM

http://www.singleguymoney.com/2009/0...-problems.html

FinanciallySMART · 07-15-2009, 10:57 AM

I don't see a problem helping your parents with their personal finance as long as they are willing to hear and heed. When helping our parents we need to take away our love and sympathies and deal with the problem as an outsider. When we do this then they will realized that you are serious and therefore not coming across as his/her beloved son or daughter. Some of our parents were not privileged enough to get the knowledge that we have received and so it is our duty to teach them what we have learned.

tomaszgorecki · 07-17-2009, 07:24 PM

Sure you can help your parents but lets face it, how willing are they to take your advice?

What experience do you have?

Also, shouldn't you care more about your own situation before you start trying to help someone else. I mean if you can't help yourself, how can you help others?

starshard0 · 07-25-2009, 05:57 PM

I prefer to laugh at my parents' finances, then feel bad about it. I can't believe I grew up to be good with finances with the way my parents handle them.

khorrell · 07-26-2009, 07:20 AM

Unfortunately, this subject is close to my heart. I try to stay out of the daily spending side of my mom's money, but more advise her on stuff like getting a good credit card and whether she should refinance her house.

It's overwhelming, isn't it? I fear we have an entire generation of aging parents who are in no position to retire or fund their own expenses as they get older.

TheDebtHawk.com · 07-26-2009, 08:09 AM

If you can afford to help out your parents, then you should help them. However, you need to make sure that you can afford to help them out. You have to be on a path to meeting your financial goals.

SurferTiki · 07-28-2009, 08:28 PM

I've been put in the position at a young age to take care of my parents finances. It can be tiresome and a lot of work, but I have more knowledge to make the correct decisions than they do. Its funny how your parents take care of you when your young and then almost immediately its on your plate to do the opposite. It's a good thing though and I feel like I'm giving back to them after they provided me such a great childhood.

Buck Nekket · 07-28-2009, 11:44 PM

in my case. I've tried working and earn some money..in that way, I can give my parents extra..And, I know having spent for my necessities without asking from their pocket was also a way of helping them fix their money problems...

starshard0 · 09-26-2009, 06:42 AM

Quote:

Originally Posted by meigui

As the oldest daughter in my family, I have to. That is my responsibility.[IMG]http://www.*********.com/img/4713/n09x0302vnsn/clear.gif[/IMG]

Why is it "your" responsibility. Your parents are adults, shouldn't they be able to handle their own finances?

Vytautas · 09-30-2009, 12:51 PM

Luckily my parents are extremely responsible for their money so I haven't had to fix any large issues beyond just helping them with their retirement accounts.

07-13-2009, 02:53 AM	#1
singleguymoney Member Join Date: Jul 2008 Location: Georgia Posts: 85 Thanks: 0 Thanked 2 Times in 2 Posts Reputation: (12)	Do You Fix Your Parents Money Problems? http://www.singleguymoney.com/2009/0...-problems.html __________________ I'm a single guy trying to get out of debt. Visit my personal finance blog @ http://www.singleguymoney.com

07-25-2009, 05:57 PM	#4
starshard0 Senior Member Join Date: Apr 2008 Location: Monterey, CA Posts: 598 Thanks: 0 Thanked 0 Times in 0 Posts Reputation: (11)	I prefer to laugh at my parents' finances, then feel bad about it. I can't believe I grew up to be good with finances with the way my parents handle them. __________________ Why should you read my blog? Because I'm awesome, that's why. من جون جالت؟

07-26-2009, 07:20 AM	#5
khorrell Senior Member Join Date: Jan 2008 Location: near Washington DC Posts: 610 Thanks: 0 Thanked 1 Time in 1 Post Reputation: (84)	Unfortunately, this subject is close to my heart. I try to stay out of the daily spending side of my mom's money, but more advise her on stuff like getting a good credit card and whether she should refinance her house. It's overwhelming, isn't it? I fear we have an entire generation of aging parents who are in no position to retire or fund their own expenses as they get older. __________________ The Paycheck Chronicles "helping military families make the most of their paychecks"

07-26-2009, 08:09 AM	#6
TheDebtHawk.com Junior Member Join Date: Jul 2009 Location: Pennsylvania Posts: 8 Thanks: 0 Thanked 0 Times in 0 Posts Reputation: (10)	If you can afford to help out your parents, then you should help them. However, you need to make sure that you can afford to help them out. You have to be on a path to meeting your financial goals. __________________ Read my blog TheDebtHawk.com Follow Me On Twitter

07-28-2009, 08:28 PM	#7
SurferTiki Member Join Date: Jan 2009 Posts: 65 Thanks: 0 Thanked 2 Times in 2 Posts Reputation: (17)	I've been put in the position at a young age to take care of my parents finances. It can be tiresome and a lot of work, but I have more knowledge to make the correct decisions than they do. Its funny how your parents take care of you when your young and then almost immediately its on your plate to do the opposite. It's a good thing though and I feel like I'm giving back to them after they provided me such a great childhood. __________________ www.surfertiki.com - Wisebread buddies get necklaces and bracelets for only $5 shipped! Contact me if you want to buy anything

07-15-2009, 10:57 AM	#2
FinanciallySMART Member Join Date: Jul 2009 Location: Jamaica Posts: 80 Thanks: 0 Thanked 4 Times in 4 Posts Reputation: (14)	I don't see a problem helping your parents with their personal finance as long as they are willing to hear and heed. When helping our parents we need to take away our love and sympathies and deal with the problem as an outsider. When we do this then they will realized that you are serious and therefore not coming across as his/her beloved son or daughter. Some of our parents were not privileged enough to get the knowledge that we have received and so it is our duty to teach them what we have learned.

07-17-2009, 07:24 PM	#3
tomaszgorecki Junior Member Join Date: Jul 2009 Posts: 3 Thanks: 0 Thanked 0 Times in 0 Posts Reputation: (10)	Sure you can help your parents but lets face it, how willing are they to take your advice? What experience do you have? Also, shouldn't you care more about your own situation before you start trying to help someone else. I mean if you can't help yourself, how can you help others?

07-28-2009, 11:44 PM	#8
Buck Nekket Junior Member Join Date: May 2009 Posts: 29 Thanks: 0 Thanked 0 Times in 0 Posts Reputation: (10)	in my case. I've tried working and earn some money..in that way, I can give my parents extra..And, I know having spent for my necessities without asking from their pocket was also a way of helping them fix their money problems...

09-30-2009, 12:51 PM	#10
Vytautas Junior Member Join Date: Sep 2009 Posts: 14 Thanks: 0 Thanked 1 Time in 1 Post Reputation: (11)	Luckily my parents are extremely responsible for their money so I haven't had to fix any large issues beyond just helping them with their retirement accounts.

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