How can I teach my over 60 parents to be better with money?

missile

Your parents are over 60 and you are still living at home?

Pollycat

missile said:

Your parents are over 60 and you are still living at home?

Do you think that is a bad thing?

If the OP's parents had him later in life, it's possible he's still in his 20s.

Lots of people still live at home at that age.

Lots of people go back home to live with their parents after moving out - they're called 'boomerang kids'.

p00

To be honest its not up to you how they spend their money. As long as you are paying your way the rest is up to them. UNLESS they ask for your input. Im not sure why you are telling them not to buy what you class as unnecessary things. 
If they are going into debt you could have a conversation and ask if you can 'help' in any way as in advice not money.  
Or leave home and let them get on with it. They are grown up. They can really do what they like and as parents they will not listen to you telling them about money. If they are not actually in debt but simply overspending Im not sure you need to tell them anything about their chosen lifestyle.
Stop lending them money. Lending them money then moaning about their spending is not logical or helpful really.
p00 x

happyhacker

Interested to know how the OP is now tackling all that advice. OP needs to get some projections to put before parents to convince them things may go downhill. One assumes they are still in control of their affairs (compos mentis)?

OP?

Pollycat

The OP hasn't logged on since the end of August when he/she said:

aml40 said:

I have told them that they are spending too much of unnecessary things and that they need to remember that when I have saved enough money to move out that I will and they will lose my housekeeping money plus the money that they borrow regularly from me as I won't be able to fund them when I will still be struggling myself and won't be able to dip into my savings to help them as there won't be savings anymore and every penny will be spent on bills but they don't think there overspending but would like guidance just in case they can't afford things. I'm assuming they know that when I move out the money will be tight so their enjoying spending whilst they can.

missile

Pollycat said:

The OP hasn't logged on since the end of August when he/she said:

aml40 said:

I have told them that they are spending too much of unnecessary things and that they need to remember that when I have saved enough money to move out that I will and they will lose my housekeeping money plus the money that they borrow regularly from me as I won't be able to fund them when I will still be struggling myself and won't be able to dip into my savings to help them as there won't be savings anymore and every penny will be spent on bills but they don't think there overspending but would like guidance just in case they can't afford things. I'm assuming they know that when I move out the money will be tight so their enjoying spending whilst they can.

If and when he does leave, parents will be able to take in a lodger <LOL>