We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Parents: do you borrow money from your kids' piggy banks or savings accounts?
We have savings accounts for each child that we put a little into each month and when the boys were small and money was really tight we did borrow from this now and again - but always put it back. If this money had come from elsewhere I might have felt differently though, somehow because we had put the money in there in the first place it didnt feel too bad.
Now the boys are older I might borrow a few quid from them if I was short of change but I would always ask. However, as someone else said I think they are far more likely to borrow from me than the other way around!
Blimey, it's more emotive than you might think.
As my position is yes if course, but to discourage me from making a habit of it, I repay them with a lot of interest. As in wonga-levels. It certainly discourages me from raiding their savings casually, but since I've put the money where I can get at it in emergencies, when those appear, I borrow.
