Reply to Do you feel comfortable approaching your parents for help with large expenses?

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[quote=Anonymous][quote=Anonymous]I mean any lump sum over $5,000 or monthly allotment nearing such.

For weddings, maybe childcare expenses, unplanned for home repairs, medical deductibles. Is it something you've gone to them before?[/quote]

My parents paid for college and sent me the occasional $20 in a card when I was a very low paid intern my first year out of college.  DH and I paid for our wedding, but my mother wanted to do something, so she got a party room at the hotel for the night before and brought in drinks and sandwiches and paid for the hotel bills of our out of town family.

When they sold their house and moved south for retirement, they had some money leftover at the same time DH and I were selling one house and purchasing another.  They gave us a bridge loan to fund the down payment of the second house.  We had double mortgages for three or so months.  We sold our first house threeish months later and paid them back with interest.  It was a win-win.  They earned way more than passbook interest and we paid way less than the going rate for that type of loan.  Normally, it wouldn't have worked out, but we had timing.

We have been lucky in regards to making sure our expenses were less than our income.  We did have our parents as a back up if something drastic happened and we had to move in with them for a period of time.  Luckily, we never had to use it.  They are all gone now.  We plan to be the same backup plan for our children. [/quote]

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