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Reply to "Why do people care if adult children receive help from their parents/family?"
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[quote=Anonymous][quote=Anonymous]I really don't care, but it does seem to me that people who receive subsidies in their 20s sometimes don't develop as good financial habits or the idea that they must live within their means. That can really come back to bite them later in life, especially if the parents aren't actually rich, just bad with money. Now that I'm in my late 30s I'm definitely seeing chickens come home to roost for some of my peers. [/quote] This. I don't care if your parents helped you out with a down payment or bought your first car or whatever, but I do think that having your parents subsidize your expenses on a regular basis can be a problem. You never learn to live within your means, and you get wedded to a lifestyle you can't afford on your own. If the spigot gets cut off, you have nothing but bills and bad habits. And I think there is value in learning that you can stand on your own two feet and support yourself. Also, those gifts often come with strings attached--your parents can reasonably expect a much bigger say in your decisions if they are paying for them. I've seen some pretty crappy family relationships that involved overbearing but financially generous parents and adult children who were unwilling to rock the boat, despite being unhappy, because they were afraid of losing the money. [/quote]
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