My parents are asking for money

Scott is working hard to pay off debt and get his finances in order, but his parents are calling for money. Scott asks Dave how he should handle this.

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[sunset]

Here's the thing :
The longer you live, the MORE MONEY you should have.
And by that time, should have ENOUGH SENSE to live BELOW your means.

[laboheme]

I'm sorry but everyone who's attacking this guy can eat dirt. He has a point, he can't make a habit of constantly trying to bail his parents out of their own bind. If they're not adjusting their lifestyle to their current financial situation he can't derail his financial future because his parents don't want to learn how to manage their own money.

[InvestingHustler]

I honestly hate lending money . I hate having to chase it and stress over it when people decide not to pay me back or forget about it or take their sweet time so I never do it anymore.

It is a very tough situation though since they are your parents

[haleytruslow]

My mom makes six figures and started asking for just $600. Then the next time it was $2500. I told her no more. I can't imagine what the next sum would've been. I was 26 or 27 and earned under $40k per year

[iammariomurray]

This is slowly becoming my reality... my anxiety is slowly taking over and I am holding myself together as best as I can.

[MrPokemon]

I was in this situation for years.
Parents refused to get jobs and work. No retirement plan. Calling ever 6-8 months asking for money. Cussing me out when I put my foot down and told them no more. It was a horrible toxic situation. And I finally had to cut them off.

[TeKnoVKNG]

My parents asked for money while I was in BS2. Basically just told them I'm in debt payoff mode, there is no money to spare. Just easier to say "no" and get it overwith vs. entertaining the guilt trips.

[frogman_]

I'm 23, debt free, making 60K/year. You have changed my future for the better.

[willennfischer]

Sad but true I’m experiencing this when I can’t send money to my parents they’re very angry on me and says I’m not a good daughter but ever since all my life I’m working and helping my family can’t understand why they can’t appreciate and see it

[arleneaugustahair]

I think people fail to realize that sometimes people don’t have $500 to give! If his parents had poor money management, do you really think he has great money management? They just all need to sit down and discuss their budget. He knows better so now he can set himself up for retirement so he can break the cycle.

[JivanPal]

To everyone here that's in disbelief that this caller would even _consider_ not just giving $500 to his parents: you don't realise how privileged you are. Not only that, but even when the caller described his current financial situation, you still think he has the ability to just gift half a grand? Oy vey.

[Zichqec]

'It's just $500!! Give them the money, they took care of you for years!!"

He's in about $200, 000 of debt. He needs all the money he can get. It sounds to me like he DID give them the money, but he's concerned for them and wants them to learn to manage money better, since they've done every dumb thing in the book.

Not only that, but the "they took care of you" arguement is BS. I didn't ask to be born, you decided to have me and you knew it would cost money. You owe me food and shelter and care and training on how to be a decent human being until I'm old enough to care for myself, ie, 18. And I don't owe you a penny for that. Doing chores around the home, fine, but don't come back to me in my later years and hound me for the money you spent on me when I was a baby. I had no choice in that.

Should you give your parents the money if you can? It really depends what they need it for, but if it truly is a need, give it to them as a gift without expecting it to be paid back. And yes, giving FPU is a good idea, especially if they're bad with money, because you want them to learn to manage it better for themselves so they don't even have to ask.

Bottom line, stop calling him a bad kid for helping his parents in multiple ways.

[outtaroad]

I have the same problem with my parents and family. They are very bad with money and irresponsible.

[captainamerica]

That makes me mad when parents ask for your money

[GoMindfully.TravelVlog]

I don’t think this is about a one time $500 request. These parents are in huge debt. You can bet that they will continually ask for $500 between now and when they are in their early 90s. Total that up. Additionally, we don’t know what kind of relationship he had with his parents over his life.

[tt]

Also I attempted to send my parents information on Dave Ramsey and they ignored the message

[AimeePoppinBabies]

Your parents are not your children. Say it again. Sadly that's part of life. You can't go backwards and be looking after your parents if you have your own family. My parents won't get a sniff out of me, especially since they treated me very poorly and kicked me out at 18.

[snehaekka]

My toxic parents asking money for hurting me for sooo long time

[calebhenderson]

The had 70 years to set themselves up for success. All that time they waste sitting idol not doing anything is staggering.. You are not a retirement plan for your parents. Giving them money is taking away from your family.
Stop enabling their bad choices. They raised you and all but here is thing, .. IT IS THERE JOB TO RAISE YOU! Your job is to raise your family and give your kids the tools to so the same and for you to set yourselves up so you won't be the same kind of burden to your kids.

[ERIN_]

These parents are despicable. My parents would never get themselves in to a financial position where they needed to ask me for money