Do your parents know?

hohum

They've always known I don't have loads of money. My mum was shocked at the amount of interest I was paying on my OD, but wisely left me to sort it. They know more in depth now because I bored them half to death in my enthusiasm to share the impact YNAB has had on my finances and debt reduction

Time_to_face_the_music

midlander81 wrote: »

You do have a point. I think that it's all to do with that awful moment of realisation when you suddenly realise just how much debt you have run up! I am definitely making progress with the 'emotional factors' associated with my debt. I guess I kind of feel that by facing up to it I have shone the spotlight on myself and my own inadequacies. The fact that I used money as a way to boost self esteem with unnecessary items etc.

It's been an uncomfortable process but one that I have had to face.

Anyway...enough of the self pity! need to go an update my spending diary... oh the joys!

Hi midlander81 :hello:

I believe you first started posting here in around July so why don't you make a signature that shows your debt reducing. I find it very inspiring to see our original debt compared to what it is now and the timescale we have paid it over.

I think your original debt was around £40K but I know you said you are planning on it being paid off in around 30 months so am guessing you must have already paid off quite a bit. It's very positive to talk about your new debt level each month, rather than referring to original debt as though that is still what is owed.

In answer to original question, I don't think parents need to know what 30-odd year old offspring are doing, in most respects of life not just debt. I would keep it to how your job, kids, family, friends etc are doing and forget the debt busting.

TTFTM x

heatherks

I did tell my dad but not the true amount his words all through life .."" if you haven't got the money to pay CASH then you dont need it ...he has never agreed with using credit ... and if you really wanted anything you had to save for it

ShirePiskie

My Mum knows everything - we do tend to over share in our family - but I am financially saintly (yes, really) as the only one she hasn't re-mortgaged/ used her savings to bail out among my siblings.

She is very proud of all I've done to get back on track and looking forward to celebrating my Debt Free Date next year.

twiggy86

I did mention to my mum that I had "a lot" on my CC the other day but that was all, and the look on her face was one of worry! My mum worries about everything so I wouldn't want to tell her the true amount as she would probably lose sleep over it. I also know she would be disappointed - it goes back to that saying "I'm not angry, I'm disappointed" which is terrible to hear!

raq

oh dear , I would love to update my parents but they would be annoyed , angry and no help whatsoever. ( they have never been in debt their whole life ). More than settled where money is concerned

[Deleted User]

My parents don't know my financial situation, unless they're watching me, from the other side.

MrsSave

My parents or inlaws don't know. I feel bad that we have managed to get ourselves into this mess, so we will sort it out. I, personally, don't want anybody else knowing (other than dh of course!).

Muhren

I didn't want my parents to know but they knew something was wrong so dragged it out of me. In the end I'm glad they found out as they have helped me so much, letting me move back in with them and taking control of my debt (I am paying them back)

I thought my old man was going to go mental that I had gambled away so much money, which to start with he was pretty mad but without his and my mums help I don't think I would be in the postion I am now.

I know that this won't be the case for eveyone and I do feel fortunate that I have had them to fall back on.

MadelinesMum

Hi, if your Mum is anything like mine she will already know. Mine seems to know everything, lol.