Do Your Parents Know About Your Financial Situation?

October 28, 2008

Debt can be a difficult thing to talk about with your family, and many young adults in debt are fearful their parents will be disappointed and consider them financial failures. Whether you run a tight ship when it comes to money and are smooth sailing, or you've found yourself in financial trouble, money isn't necessarily a topic that's comfortable to talk about with mom and dad. What do your parents know about your financial situation?

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4 years 4 weeks

Ya, i parents know about my financial condition, they supported me to come out of it. temping work in london

ilanac13 4 years 29 weeks

my mom knows that i'm kind of struggling right now but not because of anything that i've done. i have a mortgage on a place that i own and rent out and rent on a place that i live now with my fiance and my fiance is the one with the financial messiness - so he's the reason that i'm 'hurting'

hithatsmybike 4 years 29 weeks

I think I mentioned my earnings when I was filing taxes, and they're aware of my tuition costs so I'm assuming they have a good idea.My Dad always complains I'm in a better financial spot then him because my parents live in the states where the economy is shit, while I'm living in Canada where the economy (in my province) is thriving.

hithatsmybike 4 years 29 weeks

I think I mentioned my earnings when I was filing taxes, and they're aware of my tuition costs so I'm assuming they have a good idea. My Dad always complains I'm in a better financial spot then him because my parents live in the states where the economy is shit, while I'm living in Canada where the economy (in my province) is thriving.

dcfashionista 4 years 29 weeks

Well they know to a certain extent. I quit a really good paying job because I wasn't happy and I was going to go postal at any second and now I am temping for alot less money but I am happier. So while I am happy, I have a small amount of money left to do anything after bills but my motto is to pay what I can and not to stress. My father did show my how to free up extra money; so I cut off my landline, digital cable and the internet and stick with basic cable. If I want to watch something special I can go to his house or my boyfriend's mother house and I stopped paying a bill that my ex-boyfriend accrued so those two items alone has freed up $300 extra dollars per month.

prettywarrior 4 years 29 weeks

They finally cornered me and demanded numbers last weekend. I normally would say it's not their business, but if I want to have the option of moving back home for a few months to pay down my debt, I figure they should know the full story!

syako 4 years 29 weeks

They know we're fine and that's about it.

bluebellknoll 4 years 29 weeks

We don't talk about it but they know I'm doing fine.

laluna 4 years 29 weeks

I'm only in debt because of my parents. I struggle to pay off a debt i got my name for them and they like to pretend it doesn't exist.

HeidiMD 4 years 29 weeks

My dad knows that I'm in good shape financially (save for the student loans, which he helped me figure out in the first place), but I would never tell him, "Hey Dad, I make x amount of money on my paycheck! My house payment is this much! My bills are this much!"

HeidiMD 4 years 29 weeks

verily 4 years 29 weeks

My parents know all about my financial situation to a point (know general #s, not specifics). They keep pushing me to buy a house and I keep having to tell them that I'm not in a place where I'd feel comfortable making such a huge leap.

lizs 4 years 29 weeks

My mom knows some...she pieced together a lot of things when I moved to a better apartment and showed up for my last visit home with a much better wardrobe. It's a difficult topic, because she is not in a good financial situation.

Marni7 4 years 29 weeks

They know to an extent but I've always been pretty private and independent..I do not think they know how many loans I am currently repaying..I dont want them to feel bad that they couldnt really afford to fully pay for my school, even tho they had good intentions so I just omit the amount from conversations!

TidalWave 4 years 29 weeks

i don't know anything about their finances and they know nothing about mine. Why should they?

bigestivediscuit 4 years 29 weeks

They know EVERYTHING.

bigestivediscuit 4 years 29 weeks

They know EVERYTHING.

supercoolnat 4 years 29 weeks

Yep, we've always been very open and honest about money.

Advah 4 years 29 weeks

Of course. I started working full-time only a year ago, and I think my parents have always made very wise financial decision. It's such a relief to know that if I have any questions I can just ask how I should handle my bank accounts. I'm still in the learning process. :)

Frenched 4 years 29 weeks

My parents have no idea that I have credit card debt even though I have mentioned that a couple of times. They seem to think I'm doing extremely well! It's a bit uncomfortable to touch these subjects with them, though...but at the same time, I don't want them to think that I can afford EVERYTHING because I have no debt.

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