75% Of Parents Helping Their Adult Children Pay Bills

Mpoitrast87

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My wife and I are pretty lucky to both come from pretty well-off families. I thought it sounded crazy at first but we’re probably in the 75%. Our parents paid for pretty much all of our wedding and as our wedding gift both sets of our parents gave us 50 grand. My wife’s parents paid off all of her student loans and they’ve bought a huge family summer home to pass down to us. I don’t consider it a handout. I consider it taking care of family. I’ll probably do the same for my kids. Most of my friends have had the same “help”.


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CV355

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That's ridiculous. My parents helped me out when it came to transportation to and from work when I was 14-16. I had to pay for gas money, and the occasional Dunkins coffee. When it came time for me to get a car, I had $2000 saved up. Wound up with the '90 LX 2.3 which needed serious repairs. My father bought all the parts, helped me install them, and then handed me a monthly bill plan, amortizing the insurance costs and parts costs over the next 8 months. I still have that paper.

In college I ran myself down to flat broke even while working nearly full time. I was paying my own way, and monthly tuition payments were brutal. Add on books, gas, food, etc and I was lucky to have $5 to my name any given day. It took me months to save up enough on the side to attend a paintball tournament, and then I was broke again. When my car needed a major repair, my father offered to let me put it on his credit card and pay him back monthly again.

That's how it was growing up. Guidance, but nothing came free. Even now, I get a lot of resentment from people who think I inherited what I have. Nope. Not a penny.

The more you do for your child, the less self-reliant they become. A co-worker of mine told me a story about how his son got his first vehicle- awesome story actually. He bought his son a completely disassembled truck for some crazy low dollar figure- maybe $150, $200ish? He towed it home, dropped it on their lawn, and told his 14 year old to make it run and it was his. 2 years later, the kid had it running. I'm saving that one in case I ever have a kid someday. There are so many life lessons in that you could probably write a dissertation naming them all.

For the record, I don't think there is any issue with a parent "helping" their child financially in certain cases. However, there is a major difference between "helping" and "enabling." Helping ends when the lessons end.
 

Khan

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Trust Fund babies for life. My bae is a trust fund baby!
 

SolarYellow

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Out of the 75% or so, how many of these kids have useless degrees in liberal arts or some other obsolete nonsense?
 

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