Anyone else grow up poor? How do you help your parents?

likeuplifting
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Remember that time you needed new shoes that they could not afford but they made it happen
When it was your special day and money was tight but they made it special for you
When you were little and not feeling well how one of them stayed up watching out for you
Whenever you fell they picked you up - hugged and kissed you
Remember all the love they gave you

Remember how they nurtured you and did everything and more
Somehow I feel they were never poor when it can to giving you, love.

Remember all that and you will find your answer.

likeuplifting

@VP 1 I can completely relate with you.

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My parents are very bad with money management. I bought them a cheap house and pay the utilities. That way, I know I'll never again have to help my parents move everything the day before the sheriff shows up to evict them.

Never again.

likehelpful
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Just to clarify, let’s avoid equating “poor” with “bad with money.” Looking for suggestions on how to help, not judge.

likeuplifting

I hear you- the challenge is when poor + bad with money go hand in hand I’d provide different advice.

If they are bad with money setting them up with a place to stay (either by paying rent or buying on their behalf) is a good option if you can afford it. Make sure you aren’t just paying their mortgage

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I send them money every month now hoping they'll use it to live a more comfortable life

likeupliftinghelpful

Nope, bc my dad's laziness is why I grew up poor. Dude does not step up in adverse situations. I love him and he'll always be my dad, but it is very clear why both my mom and then stepmom left him. He's content with what he has, but I'm sure I'll have to cover some bills once he can no longer work (he has no retirement and will likely never retire).

likehelpful

Parents make less than 40k a year so I guess that’s poor, grew up on 28k for 1/2 my life.

I just dropped 2k on them to get a nice backsplash added to their kitchen and took my mom out for some ice cream. Honestly it’s the little things, she enjoyed the ice cream much more than the backsplash tbh

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My parents are terrible with money, despite being intelligent and well-intentioned. My husband and I paid off their mortgage, which had a high interest loan, and have them make interest-free loan payments to us every month. If we didn’t ask for payments, they’d squander that cash and still wind up without retirement savings. (We will almost certainly be helping when they retire.)

We also spot assist with medical bills (eg my mother would be half toothless if we hadn’t given her $5K on a few occasions for dental bills).

It’s frustrating sometimes, but ultimately I love my folks and feel fortunate to be able to help.

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My biggest problem i have with my parents

65 single mother who still works. Throughout her life she’s had your typical immigrant jobs: house cleaner, dishwasher, etc. and has never made more than 30k in her life. She did an amazing job as a mother and did everything she could to support me and my siblings so I happily support her financially. I pay for her monthly cell bill, will finish paying off her house next year, and have put in well over $40k in renovations. If I had more I’d give it to her, she deserves it.

likeuplifting

I look for very specific things that I can take over. Example: my dad is in his late 60s, and has always mowed his own lawn. My parents have an AWFUL hill in their backyard, so that’s something I can very much pay someone to take care of for him.

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My equation is simple : my parents did everything they could to give me good upbringing/education without ever caring for their own savings/luxury/comfort so I just take care of them fully as my duty. They are retired now and i take full responsibility of their living now. My younger brother helps a bit but for the most I take care. Bought a house for them back home, send money each month so they can live a comfortable and leisure life, also take care of bill payments online.

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Spend ~30% of my post time tax income coz they are my parents

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On our salary? You’re a saint 😭

funny

I plan to buy my mom a replacement car soon. She only likes corollas and / or civics so I lucked out a bit lol

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I pay for my parents cell phone and groceries

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I never felt poor growing up. However, my kids had 200% more than me and they said they felt poor growing up.

🤦🏼‍♀️ SMH

likefunny

I’ve been helping to renovate different parts of the house & getting a new roof.. i have a list of other things I want to help with but will depend on how much business I can bring in this year.

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Once a year I usually just send them up to $10k (depending on how much I have in my bank account. Min. $3k but that was when I just started my career)

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Pay the cell phone bill and give them a credit card for as needed- groceries, oil changes. It gives them something to make the stresses less burdensome and the wait to payday less painful

likesmart

We grew up not well off, but my parents sacrificed a lot to put my brother and I through good schools. They won’t let me give them money directly, so I pay for their cell bills, pay for my mom to fly and stay in hotels when she visits her sister or my brother and her grandkids, and give my dad a nice gift here and there where I can — couple weeks back I gave them a gift certificate to a furniture store because they need a new couch and patio furniture and have been eyeing it a while but were reluctant to spend the money.

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Not poor per se but money was tight when my parents divorced. My dad was fine. My mom was less well off. So I do things like pay her property taxes, phone bill, random other big things that come up so she doesn’t need to feel stressed about it. I also have been putting money in an index fund monthly to supplement her retirement when that day comes

likeuplifting

I grew up poor but my family (parents and sister included) make terrible choices. So it’s tough. I’ve done everything the right way but struggle with “do I help?” When I know I can and they know I can, but should I if they keep making poor choices.

I had to set strong boundaries, which has taken 10 years and a lot of money to figure out. Now, when my dad calls about not having money for his electricity bill or something else, I’ve taught him to call the company and ask for a few more days to pay the bill. The few times I do financially help, I pay the company directly. I’ve learned to never provide actual money. “Oh you need groceries?” Let me buy some and have them delivered directly to you.

Set boundaries, and pay companies directly so you know your money is only being spent on necessities.

likesmart

Oh, and my dad is on my cellphone plan. It’s cheaper to have a family plan and it takes one expense away from him. He has health issues so him always having phone service is a medical necessity.

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