To tell or not to tell parents?

hollip0p

worriedDan wrote: »

I am not really sure whether or not I need to speak to my parents about my debt. I know that I am 36, however we are close and I see them several times a week. They are not in a position to help financially so this wouldn't be my motivation for telling them,

They did help us out a lot when we first got out house and also provided free childcare 2 days a week for 3 years. On the flip side, I know that it would really worry them, particularly my mother.

How do others deal with this? My wife is keen to keep it private, just between the 2 of us.

Your post doesn't say why you are thinking of telling them? Is there a reason you think they need to know?

From my point of view, and without knowing your circumstances, I would say don't tell them if it's going to worry them unnecessarily and also upset your wife. I don't see what there is to gain from telling them.

Fireflyaway

You sound similar to me! I'm 37 and have never admitted my debt to my folks. I'd feel ashamed and I know they would be worried, so for those reasons I have chosen not to say anything. Them knowing would not improve the situation so I see no reason to tell them. Right now its at the back of my mind and that's where its going to stay. Some things are best unsaid.
The best thing to do is to educate your kids about money. Tell them about credit scores, the cost of living, overdrafts, budgeting - the lot! When they are old enough of course. Don't let them make the same mistakes. That's my plan!