To parents -Would you want to know?

Hi & welcome to the wonderful world of DFW where you will find amazing ways of saving money, makin extra money & get loads of support & encouragement.


I think you have done so well to clear a lot of your debt & you probably feel a bit low when you realise you still have along way to go.


To answer your original question : as a parent I would definitely want to know.

I've been on here for a while now & about a year ago (after many months of suspicions) I discovered that my eldest DD was in shed loads of debt. Obviously I'm not in a position to clear her debts, & frankly I'm not sure that I would just pay it off even if I was - in the same way that I wouldnt do her GCSE coursework for her. She needed to learn the basics of budgeting as I have had to, & more importantly, the reasons why she accrued so much debt in the first place - keeping up with others who had more disposable income.

On the other hand I am glad that I do know about her situation as she no longer feels any pressure to attend expensive family events & whereas she used to feel obliged to give expensive gifts to everyone, I've managed to convince her that it really isnt necessary. She is much better at managing her finances now & although I do occasionally have to sub her for groceries or travel costs until payday, she always insists on paying it back as soon as possible.

Apart from your contents insurance, your SOA looks pretty good. I assume that you are aware of Quidco which offers cashback for many many things ;eg my contents insurance for the year was £30 & I received £19 cashback .

Another way to earn some extra is to do online surveys; you can be paid in vouchers or some offer PayPal.

The Old Style money saving board is chockablock of tips for saving money on groceries.

I would pour all spare cash towards the A&L as it's the highest interest debt, & when that's gone you will feel great satisfaction at havig obliterated that & can then move on to doing the same to the others.

You can do this & while it's probably a good idea to confide in your mother as she's already worried about you, I agree with others that involving family in your finances could lead to awkward feelings & may not do your feelings of self worth much good if you already feel that your sister is more of an achiever. You should feel very proud of what you have already achieved & I expect your parents will really respect you for that too.

Best wishes

Lula
xx

Hiya, I can't really improve on the advice you've been given. All I'd like to add is that if you were my child (and I do have one about your age) I'd be incredibly proud that you'd done so much to sort your problem without recourse to the bank of mum and dad and I'd be more than willing to help you.

We hear too much about kids who just shrug their shoulders and say never mind Mum'll sort it out. If you were mine I'd be very proud of you.
You deserve them

Again as a Mum, and knowing your Mum is worried, you do need to tell her at least why you are so anti-social atm.

They will be hurt by you not telling them, and by lying if only by omission of not telling them before. If you need "happy pills" then some parental support (not just financial) would not hurt.
DG