Comments on: Create a Personal Budget: When The Parental “Free Ride” Train Breaks Down http://www.mint.com/blog/train-wreck/create-a-personal-budget-when-the-parental-free-ride-train-breaks-down/ The blog of the free, simple personal finance solution. Track all your spending automatically, find the best deals, save more money. And save the world. Fri, 19 Mar 2010 15:45:29 -0700 http://wordpress.org/?v=2.8.6 hourly 1 By: Dy (www.dyphan.com) http://www.mint.com/blog/train-wreck/create-a-personal-budget-when-the-parental-free-ride-train-breaks-down/comment-page-1/#comment-720 Dy (www.dyphan.com) Wed, 30 May 2007 18:17:40 +0000 http://www.mint.com/blog/train-wreck/tuesday-train-wreck-when-the-parental-free-ride-train-breaks-down/#comment-720 My parents led me through the same experience. I ended up on my feet and am almost debt free, but I'm a total advocate for managing your own finances and investments. My parents led me through the same experience. I ended up on my feet and am almost debt free, but I’m a total advocate for managing your own finances and investments. ]]> By: Johnny Bones http://www.mint.com/blog/train-wreck/create-a-personal-budget-when-the-parental-free-ride-train-breaks-down/comment-page-1/#comment-719 Johnny Bones Wed, 30 May 2007 15:51:40 +0000 http://www.mint.com/blog/train-wreck/tuesday-train-wreck-when-the-parental-free-ride-train-breaks-down/#comment-719 It is all about accountability. Think about what you are buying, how much it is going to cost, and where the money to pay for it is going to come from. Your parents have their monthly bills that are always going to be there. If you are going to buy a car, that is a pretty big addition to your parent's monthly bills. How are we going to pay for this Dad? Parents need to instill in their kids that they don't have a money printing machine in their basement. Young adults need to understand that the world is a volitile place where the financial future is very uncertain. Your Parent's employment situation and liveleyhood can easily change. Think before you spend.... It is all about accountability. Think about what you are buying, how much it is going to cost, and where the money to pay for it is going to come from. Your parents have their monthly bills that are always going to be there. If you are going to buy a car, that is a pretty big addition to your parent’s monthly bills. How are we going to pay for this Dad? Parents need to instill in their kids that they don’t have a money printing machine in their basement. Young adults need to understand that the world is a volitile place where the financial future is very uncertain. Your Parent’s employment situation and liveleyhood can easily change. Think before you spend…. ]]> By: Misti http://www.mint.com/blog/train-wreck/create-a-personal-budget-when-the-parental-free-ride-train-breaks-down/comment-page-1/#comment-715 Misti Tue, 29 May 2007 20:51:01 +0000 http://www.mint.com/blog/train-wreck/tuesday-train-wreck-when-the-parental-free-ride-train-breaks-down/#comment-715 I think this is a lesson that parents need to learn, rather then their offspring. If my parents offer me money I automatically take that as a loan. Probably because I've been having to earn all money for myself since I was 16 years old. I learned some real solid financial responsiblity just knowing that I would have to earn and pay for my own things. On the other hand we have my brother. He seemed to be able to "con" my parents into always giving him money whenever he needed it. He would call from the bus station and say he lost all his luggage and if they could wirer him money. He really saw how simple it was to be able to pick up wired money. He got so used to being able to just ask and receive money that today he is only 25yrs old and somehow got on disability. He has never worked a day in his life for his own money. I'm so glad the person in this story was able to figure out a way to live on his own and pay for his own stuff after his dad stopped paying for everything because just handing money to kids/teenagers can be damaging to them in their later survival skills. I think this is a lesson that parents need to learn, rather then their offspring. If my parents offer me money I automatically take that as a loan. Probably because I’ve been having to earn all money for myself since I was 16 years old. I learned some real solid financial responsiblity just knowing that I would have to earn and pay for my own things.
On the other hand we have my brother. He seemed to be able to “con” my parents into always giving him money whenever he needed it. He would call from the bus station and say he lost all his luggage and if they could wirer him money. He really saw how simple it was to be able to pick up wired money. He got so used to being able to just ask and receive money that today he is only 25yrs old and somehow got on disability. He has never worked a day in his life for his own money.
I’m so glad the person in this story was able to figure out a way to live on his own and pay for his own stuff after his dad stopped paying for everything because just handing money to kids/teenagers can be damaging to them in their later survival skills. ]]>