My parents owe me lots of money can i please have advice?

Question

I am 15 and work part time after school and weekends i try to save my money but every week my parents spend too much money and don't have enough left for food so i have to lend them money i would like some advice please because they owe me a large amount of money and i work hard for it

Answer 1

we have da same problem, what i did is make my parents pay a 10% compound interest & constantly remind them about it, soon they will back u back EVERYTHING & they'll never ask u a penny again

P.S.- bethy is competely wrong about this, if u don't get ur money back, they keep sapping ur money out until ur broke then they'll take ur money out of ur college funds. also it's a good thing 2 do w/ ur friends

Answer 2

Unfortunately, there is little you can do. If your parents cannot manage their own finances then it's unlikely that they're ever going to be in a position to repay you.

Perhaps a better way for you to look at the situation is to see it as a case of your contributing to your family. At 15, I cannot imagine you make enough money to pay the rent and utilities. Your parents, although they need some help are likely carrying the majority of the burden. Just tell yourself that you are doing your part to help. Although this doesn't put money in your pocket, it is something that you can be proud of doing.

You should never loan money to a friend or family member. You may call it a loan, but your best bet to tell yourself that you gave them the money an will never see it again. If you get it back, great. If not, then you weren't expecting it anyway. Loaning money and then trying to collect from family or friends will put an unnecessary strain on those relationships. If someone ask for more than you are comfortable giving, simply tell them you can't. You don't have to justify it; just say that you can't. Most people won't pursue it beyond that.

Answer 3

Now u must know how hard did they work to make u work. Parents cant owe their children's money. U know how much u owe them. U cant even calculate from the time u was in the womb and till u r grown up.

Its ur time to take care of them the way u can. They might have the same difficulties which u hv right now but they never complained to anyone.

Grow up now and take care of their needs. work hard and give them more pleasure.

All the best.

Answer 4

And you don't eat any of the food, sleep there, have your wash done,have any privacy, or enjoy anything as a family? What a spoiled brat!! I'd GIVE my parents money, not lend it to them! After all, they supported you for what - like fourteen years?

If they can't afford food, why don't you buy it for them - or ask them to see if the qualify for public assistance - food stamps or some other sort of help? Maybe the Church to which the family belongs can help? I'm sure you're all not going to starve.

In the meantime, give your parents a break. Help them out however you can and quit complaining about how much "they owe" you; when it comes right down to it, you owe them - your vey existence, support, understanding and respect!

Answer 5

since your family owes you money i'l try some of my suggestions
1. move out, the next time they ask you for money just say NO!
once you have a home call/vist them and demand for your money back ITS YOURS!

2. Demand for your money back and they ask say NO! but you still get to live with them.

3. talk with them, ask them waht they are buying and why they need your money and don't lend it to them if they give you a dumb answer or don't cooperate. then i would go to option 1/2
4.and/or make a bill like every week/ month a pay you back every penny you decide on and SAY NO! when they ask

ITS TIME TO BE INDEPENDANT!!!!

Answer 6

You will never get that money back. The only thing you can do is to stop "lending" it to them, as hard as that might be. As long as they know they can get money from you every week, they are not going to learn to budget or spend wisely. They won't starve--they'll learn not to spend badly or they'll have to go to the food bank. Either way, you shouldn't bail them out now, or you'll be doing it for the rest of your life!

Answer 7

you are 15 consider yourself lucky that you even can work in what ever state you live in. try talking to your parents about it but really i would say do not worry about it until after you graduate. plus it is family. my personal motto is never lend money to family, give money to family. also you should check the laws in your state, many states have laws that say that until you are over the age of 18 and no longer living in your parents house then you actually own nothing, they are entitled to take what ever you have. your car, your computer or even your money. your only hope is to get emancipated if your state even allows that. which not all do. in many cases you do not get emancipated you just become a ward of the state, which is not something that you want to happen. another option is if your state does not have laws saying that it is actually not your money then just dont give it to them. make sure you are fed well and let them worry about how they are gonna eat. it is not your job to take care of every irresponsible person in the world.

Answer 8

If your parents are not waisting money but do not make enough then they need to make some changes.

If they want money for food then offer to shop and put out a menu and make everyone stick to it. It does not have to be fancy or expensive meals they just need to be nutritious. If the money is for other things like cable TV or things not really needed then they need to consider cutting costs back.

Offer to give them a portion of your check and no more then put the rest in the bank, some times as children we need to help out when things are tight .Do not ask for extras or expect to eat out often or at all for a while.

Answer 9

By giving them YOUR money, you are enabling them to spend beyond their means. Stop.

If you and your siblings need food and you want to take care of them, then do so, but don't ask them for money back. I would also talk to an adult you trust about getting your parents some counseling and you some support to make sure you don't get the shaft.

Chances are, your parents will never repay you. Trust me on this. My ex-inlaws owe me circa $15000, but I don't expect to see a dime.

As long as they don't have to accept the consequences of poor fiscal responsibility, they will never stop. You shouldn't have to suffer, which means you may end up under the care and guardianship of a responsible adult if you so wish. Good luck, and don't EVER give up what is rightfully yours.

Answer 10

you have already reached the responsibility stage pretty early. your parents don't seem to be capable to nurture you with all the gifts that other ppl your age get. Just think of it this way what ever you do in a way that will help your parents, i believe would come back to you as bonuses or big raises later in your life. do not think of helping them out financially as a burden but something you are willing to do to keep the family going and living happy.

Stay in school and study and hopefully you will make it to a good college or university.

Answer 11

You are in a difficult situation. I hope that your parents are spending it on things that are needed for the family. As hard as it is there are times that everybody in a family has to contribute for the benefit of all. You probably will never get your hard earned money back, but you should be proud of yourself for helping.