How are they going to survive

[Caustic Burno]

Just some thoughts about the economy and our young folks. Many of us on CT are older and have suffered hard times and survived. As far as I know my children are hanging in there. If they are suffering they have not told us. This week I received calls from two nephews needing loans. Both have borrowed from us in the past and then forgot that they knew us, and never repaid the loans. It is very hurtful to receive these calls. I do not as a rule talk about personal family things but this is an exception as I am feeling Guilty. Whats your opinion?
Tom.

I have had the kids ask and I always said No! My question has always been what would you do if I was dead who is going to bail you out then. I told them why should I take my savings to pay their bills when they wouldn't save, it sure made them grow up. I will buy you grocries, I won't let them go hungry. I always felt I did them a bigger favor in not bailing them out.

 

[Lammie]

I have never asked my parents for money. They raised me and paid for my schooling and that was more than enough. Even when they were in a position to help me, I never asked because I believe that grown people should not have to ask their parents for money. Not the way I have seen other people ask their parents for money.

We did borrow 15K from the MIL once and paid it all back on schedule. It was her idea to lend it to us.

 

[backhoeboogie]

I have never asked my parents for money.

I didn't either. As Dad used to say, "You can't get blood out of a turnip." My parents had too many kids and they took in too many more. Dad even adopted three. A jar of peanut butter only goes so far.

A grandaddy loaned me the money for a water well and it took me over a year to pay that back working second and third jobs.

 

[Onthebit]

I have never asked my parents for money. They raised me and paid for my schooling and that was more than enough. Even when they were in a position to help me, I never asked because I believe that grown people should not have to ask their parents for money. Not the way I have seen other people ask their parents for money.

We did borrow 15K from the MIL once and paid it all back on schedule. It was her idea to lend it to us.

Same here, I walked out the door at 18 and never went back for anything even though things got tough sometimes. I liked to party too but never lost a job because of it. My hubby's kids, though grown up. (early twentys) cant do anything on their own and are always calling Dad for money. I told him to pull the rug many a times. It really is a sore spot with me watching these lazy (not just his) kids living at home and mooching off Mom and Dad! GRRRRRRRRRRRRRRRRR!!

 

[Brute 23]

Never make a "loan" you expect to get re-paid for and what doesn't kill them will only make them stronger. Alot of people needed this reality check.

 

[Angus Cowman]

Things are tough my one daughter bought a house this yr she just turned 21 I paid for part of her college because we had saved for it for yrs in a college fund but she paid for everything above what that did

the other ones we did the same for I have always put some money aside for the kids but I have it so they can't touch it until they are older they get some at 21 some at 25 and some at 40 I have loaned them money buy I always loan it towards their money , Jimmy wanted a trk when he was 17 he had worked and paid for the first and he needed a better one for work so we loaned him $5000 towards it but we took it out of his money we had saved for him
When he passed away we took the rest of his money and split it between the girls and invested it for them

as for the girls when they bought there houses we loaned them a small amount Jamie needed 4000 and Steph needed 2500 but we took it out of their money also as far as just giving them money we don't but if we know they need something we do go buy it for them steph has been sick and not working much since her pregnancy so yes we help out with groceries or the wife goes with her to her Dr appointments because she wants to and it helps on the gas since the Dr is 40 miles away but as far as loans we don't do it

I never borrowed money from my folks except for land I purchased from them and it was all a short term loan I always had it paid in full within 3 yrs and it was mostly to help them out as they get older I own it but they still have use of it

 

[Jogeephus]

I have always put some money aside for the kids but I have it so they can't touch it until they are older they get some at 21 some at 25 and some at 40 I have loaned them money buy I always loan it towards their money

I think this is a smart way to do it. Unbeknownst to me, my father did this for me as well. He always said it was best to get over "fool's hill" before you come into any money. In his opinion, the top of "fool's hill" was at age 35. In my case, he was right cause when I was informed of the sum of money he left me - I didn't need it and have never touched it. I have set it aside in hopes of giving it to my children one day when they get over "fool's hill".