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Do Parents Have A Say In Our Financial Matters? - Family (2) - Nairaland

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Re: Do Parents Have A Say In Our Financial Matters? by bakarekabir: 6:55pm On Nov 26, 2017
Yes, if you're a spendthrift. No, if you're matured enough financially and your spending culture can be predicted.
Re: Do Parents Have A Say In Our Financial Matters? by Nobody: 6:56pm On Nov 26, 2017
Your parents gave you a fixed allowance as a child. Do the same now.

Would your parents have answered your every request for money? No.

You obligation is to their needs, not their wants.

5 Likes

Re: Do Parents Have A Say In Our Financial Matters? by fykes(m): 7:15pm On Nov 26, 2017
I can totally relate....five yrs in an oil company and I literally lived for my family and my God. Buh....my family supports when I'm in need too. Do what u can....REMEMBER WHEN ALL IS SAID AND DONE, FAMILY IS ALL U GOT. U MAYNT HAVE DAT WORK FOREVER, U WILL ALWAYS HAVE THEM.

1 Like

Re: Do Parents Have A Say In Our Financial Matters? by asawanathegreat(m): 7:29pm On Nov 26, 2017
They don't have say in my finances at all.
Re: Do Parents Have A Say In Our Financial Matters? by Nobody: 7:43pm On Nov 26, 2017
Should they? No
Do they? Yes
It's Africa o
Re: Do Parents Have A Say In Our Financial Matters? by Adaumunocha(f): 7:44pm On Nov 26, 2017
Why not empower your siblings? You need to save and plan ur life.
Re: Do Parents Have A Say In Our Financial Matters? by FRANKOSKI(m): 7:59pm On Nov 26, 2017
THEIR ADVICE CAN BE GOLDEN SOMETIMES O shocked
Re: Do Parents Have A Say In Our Financial Matters? by jeff1607(m): 8:43pm On Nov 26, 2017
when you get sacked from work and u return home, you will understand the kind of people they really are.
you would b nagged to death, to eat in the house go tire you.


all u do now would be forgotten



worse of it all they would be praying deep down that you don't get married , once you do the burden on your husband unless he his very wealthy, would be too much.



you know what to do, it's hard but it's ur life




don't be surprised the day u refuse anyone at home and they say "how much ve u spent" don't be surprised

4 Likes

Re: Do Parents Have A Say In Our Financial Matters? by YemiHadid(m): 9:54pm On Nov 26, 2017
omo come this side and see something... arabs over here keep all their money (like all income whatsoever) with their mom, even after he's married with kids... she's the sole custodian and he has to ask permission and tell her what he needs the money for before making any withdrawal. After mum dies that role reverts to his wife and the cycle continues... (arabo money dey him mama or wife hand) - those are the only two people who knows what an arab man is worth at any given time. Cultures are different all over the world... there's upsides and downsides...
Re: Do Parents Have A Say In Our Financial Matters? by Sard(m): 10:10pm On Nov 26, 2017
People that commented earlier have said a lot. The only I'll add is that you should make changes now when you're unmarried. Living this kind of life will affect your relationship with your spouse, and it'll even turn him to their enemy. Decide now.

1 Like

Re: Do Parents Have A Say In Our Financial Matters? by franchuks(m): 10:30pm On Nov 26, 2017
What can you do.... It's not been easy for me too, yours is better as my parents are retired now! We just have to keep helping and hope independency of would be attained soon and all siblings supporting too!
Re: Do Parents Have A Say In Our Financial Matters? by olujastro: 11:40pm On Nov 26, 2017
Windflower, you broke the first rule of "Never let your family members know how much you earn, else they'll form planning committee on your salary". They know how much you should have left each time and will always put eyes till it approaches zero.
Moving forward, learn to pay yourself first. Once I got my salary, the first thing I did was to transfer the amount I'm saving for that month into another account with no Internet banking access and Atm card.
Then I pay my mum her 'salary' which she appreciates cos it's higher than her own salary. She can appreciate it because she has no idea how much I earn as salary and it's usually more than enough for her to even save from. Once she does know your salary, she'll likely look down on it no matter the amount.
Lastly, you can never fulfill all their needs cos those needs will never finish. Learn to be strict now!

4 Likes

Re: Do Parents Have A Say In Our Financial Matters? by LaExpert: 1:45am On Nov 27, 2017
Understand that it is a responsibility to take care of them but not an obligation ie, it is necessary but not compulsory.

If you were a man, it would have been worse cos it will deter you from having your own family and when you eventually do, your parents will see your wife as a pest forgetting that you have an obligation to take care of your family first.

You being a lady too, you should be firm with your decisions and not allow your parents manipulate you...they really should not have a say on your finances.

1 Like

Re: Do Parents Have A Say In Our Financial Matters? by ddeola: 3:11am On Nov 27, 2017
Most parents who is still meddling with their married children's affairs have failed to give them the necessary training in the first place.

You cannot bend a dry fish, you only bend it when it is fresh.

May we never fail as parents in Jesus name

1 Like

Re: Do Parents Have A Say In Our Financial Matters? by Windflower(f): 5:26am On Nov 27, 2017
fykes:
I can totally relate....five yrs in an oil company and I literally lived for my family and my God. Buh....my family supports when I'm in need too. Do what u can....REMEMBER WHEN ALL IS SAID AND DONE, FAMILY IS ALL U GOT. U MAYNT HAVE DAT WORK FOREVER, U WILL ALWAYS HAVE THEM.
Waow,exactly and that's what's causing the soft spot I have for them. Family is everything to me cos we have been tru so much together
Re: Do Parents Have A Say In Our Financial Matters? by Windflower(f): 5:28am On Nov 27, 2017
YemiHadid:
omo come this side and see something... arabs over here keep all their money (like all income whatsoever) with their mom, even after he's married with kids... she's the sole custodian and he has to ask permission and tell her what he needs the money for before making any withdrawal. After mum dies that role reverts to his wife and the cycle continues... (arabo money dey him mama or wife hand) - those are the only two people who knows what an arab man is worth at any given time. Cultures are different all over the world... there's upsides and downsides...
Waow,that's interesting. I guess they value their women over there,but even after getting married,that's serious o
Re: Do Parents Have A Say In Our Financial Matters? by Windflower(f): 5:33am On Nov 27, 2017
oyb:
Your parents gave you a fixed allowance as a child. Do the same now.

Would your parents have answered your every request for money? No.

You obligation is to their needs, not their wants.
You are right,they didn't answer every of my request for money but damn they tried. They were both doing strenuous work for their age especially dad,he never allowed any of us attend public school and they never sent us home for school fee. He literally worked his butt off for us and he is still doing that.
Re: Do Parents Have A Say In Our Financial Matters? by Windflower(f): 5:51am On Nov 27, 2017
Waow,I never knew this post would make FP,many thanks to everyone who has contributed.
The truth is its because of the kind of parent they are,the type that sold their only gold chain and wristwatch so as to pay our school fee,they literally worked their butt off .
None of us attended any public school,I had all the textbooks I needed in school even the unimportant ones.
People used to think I came from a wealthy home while I was in school cos they wouldn't spare any expenses.
With this,I feel so indebted to them,this year is gone already. My prayer is for me to get a well paying job and for my siblings to graduate and start earning also so they can also help out. Asides that,I love them too much and see them lacking and I won't be able to help out,I have decided to join either a corporative or a thrift,@least that would make it easier to save since the money won't be in my account.
The one problem I have with her is she loves her children more than herself,my younger bro was going back to school and she went ahead to collect a loan that she pays weekly for him to get new clothes,personal items and foodstuff. I was soo damn angry when I heard,how can someone collect a loan for personal items when its not for business. I once gave her money to get some personal item for herself,my younger ones were having their school party and she gave them to buy shoes for themselves. She doesn't even care about her self and I feel its becoming too much. If one wants to be successful, then one has to deprive his/her self of certain things.
Re: Do Parents Have A Say In Our Financial Matters? by Windflower(f): 5:53am On Nov 27, 2017
franchuks:
What can you do.... It's not been easy for me too, yours is better as my parents are retired now! We just have to keep helping and hope independency of would be attained soon and all siblings supporting too!
Amen,its will get better IJN
Re: Do Parents Have A Say In Our Financial Matters? by Windflower(f): 5:59am On Nov 27, 2017
olujastro:
Windflower, you broke the first rule of "Never let your family members know how much you earn, else they'll form planning committee on your salary". They know how much you should have left each time and will always put eyes till it approaches zero.
Moving forward, learn to pay yourself first. Once I got my salary, the first thing I did was to transfer the amount I'm saving for that month into another account with no Internet banking access and Atm card.
Then I pay my mum her 'salary' which she appreciates cos it's higher than her own salary. She can appreciate it because she has no idea how much I earn as salary and it's usually more than enough for her to even save from. Once she does know your salary, she'll likely look down on it no matter the amount.
Lastly, you can never fulfill all their needs cos those jneeds will never finish. Learn to be strict now!
Very much correct,i should never have disclosed my salary but its totally different. I guess your mum is financially comfortable, and what you even given her is more than her own salary,unfortunately we are not there yet.
Re: Do Parents Have A Say In Our Financial Matters? by Windflower(f): 6:09am On Nov 27, 2017
mrphysics:
I think the problem is here is lack of plan on your side. If you have a financial plan, it will help you make decisions. Are you the only earner at home? Don't think you are feeding the family because your dad is there.

How do you overcome this?

Take this year as a family year, so all earnings goes to them. As a salary earner, you just have two months to close of business year. I do not think there is anything you can do this year. December is fast approaching and there will be expecting a lot from you.

In January, set out a target you want to achieve at the end of the year. Let them know this is what you want and the amount you will be saving towards that project. There is no room for secrecy again since you are living with them and they already know your salary. By having a target, it helps you save money towards it. You must discipline yourself towards this target. You need to discuss with your dad too.

Yes,there are target to be met next year,hope its all works out by Gods grace,they are aware of it already

So many persons are having same issue with you, trust me, it's time to think like a man. Most men are tamed "stingy" only because they have a vision for their money. You must do the maths, and have a plan for your tf, feeding, and the rest...

Having a vision for money is good,but lemme quickly say a short story,I have a friend who was diagnosed with internal bleeding recently and she has a brother who works in a bank that she could go to for financial help but she refused. The brother became stingy when he started working because he had a vision,he already has two pieces of land and some other investment less than two years of working,at the detriment of his family.
My friend says while he was in school, she and her mum would help people clean their houses and wash clothes to send him money and he even got the bank job tru one of the person the mum knew. Now the way she talks about her brother breeds nothing more than pure hatred,he isn't even taking responsibility for their junior brother. I am not saying its not good to have a vision for money,but not to the extent that money would be the one making decisions for you.
Re: Do Parents Have A Say In Our Financial Matters? by Windflower(f): 6:15am On Nov 27, 2017
CaptainJeffry:
Don't ever tell anyone how much you have or earn except your wedded wife. I'm close to my mum but I don't share my financial status with her else she will turn to god in my life.

Apart from private jet which I know she wouldn't need, I can afford her demands.

Try to set your family members up financially so that your burden will be less. When everybody in your family is financially stable, your life will be easy.

Thank God for you,if i was able to afford it,that would have been nice. Its draining me because I don't earn much myself.
The setting up is what we are trying to do
Re: Do Parents Have A Say In Our Financial Matters? by cococandy(f): 8:21am On Nov 27, 2017
All I can say is don’t even think of getting married until you sort all your financial wahala with your mom.
Re: Do Parents Have A Say In Our Financial Matters? by jaychubi: 9:04am On Nov 27, 2017
Windflower:
My dad came from a broken home, which somehow ruined his future, he couldn't further in his education which is why he took it upon himself that all six of his children must be educated. Its not been easy for them, they have deprived themselves of social life and many other things. Presently, am the third born but the first graduate which means am the only one working.
I and my mum are very close, like I can't even take any decision without consulting her first.

Straight to the point, I started working last year and have been helping out in my own little way, earlier this year I bought a 32inch TV close to 65,000, I gave my brother 40,000 to buy a gadget he needed to learn a skill, mum needed an appliance worth 250,000 and I paid a 35% down payment which she was supposed to be paying the rest installmentally.

Now this morning she called me and said I would help her pay another 30% then she will pay the rest. We were joking just last week, when a message entered my phone and jokingly she said I received an alert of 20million, that I would give her and my dad half of it, my older siblings #2million each while I take the remaining.

Note, I am not a stingy person at all, in fact now am beginning to think she manipulates me because I have a soft spot for her. My older brother once said he won't disclose to her how much he earns when he starts working, but am the opposite, am always transparent towards her.

Recently I told her I want to start an online store, so I can have extra money because my salary doesn't even last me till the end of the month. So telling her this, why should she say I should help her in paying another 30%. She even told me she knows this month salary is booked, cos I promised to give my sister part of her house rent in school, buy drugs for my grandma, so she said I can help her with my November salary.

She even helps me plan it, I don't want this year to go by without doing anything, if I continue like this, then I won't have any savings, my accounts are all red. I could remember when I collected my second salary, I gave half to her so we can buy foodstuff, dad refused and said she should return it that am just starting out so they shouldn't disturb me. Throughout my NYSC I didn't save a dime yet I was collecting state allowance also, I don't spend money lavishly, I know how to manage myself.

All the money I kept sending home. I know its my duty but should our parents hold us Ransome because of all they have done for us cos that's exactly what she meant.

I dunno if am the only one experiencing it, now I know come November I will give her the money which means the plan of starting my own biz would have to wait till next year. I planned on enrolling for my masters degree this year but had to postpone it because I wanted to help out.

Is this how I will continue or what can I do concerning the situation. I am sorry for the long epistle but it was needed.

Develop a budget and stick to it, include expenses u make monthly plus compulsory 20% or more for investment.

2 Likes

Re: Do Parents Have A Say In Our Financial Matters? by odaniel1(m): 9:14am On Nov 27, 2017
Just to add to what Benita27 has said. Human beings will 'naturally' prey on the weaknesses of others. Not that it makes ur mum unsupportive of your progress, but your inability to say 'NO' has spoon-fed her into being 'inconsiderate' about your needs as well. Be wise, those you cater for today, will blast you tomorrow when the job is no longer available, so start prioritizing 'Needs' from 'wants' and save up for your progress in Life and work as well. Remember you only live once!

1 Like

Re: Do Parents Have A Say In Our Financial Matters? by olujastro: 12:42pm On Nov 27, 2017
Windflower:
Waow,I never knew this post would make FP,many thanks to everyone who has contributed.
The truth is its because of the kind of parent they are,the type that sold their only gold chain and wristwatch so as to pay our school fee,they literally worked their butt off .
None of us attended any public school,I had all the textbooks I needed in school even the unimportant ones.
People used to think I came from a wealthy home while I was in school cos they wouldn't spare any expenses.
With this,I feel so indebted to them,this year is gone already. My prayer is for me to get a well paying job and for my siblings to graduate and start earning also so they can also help out. Asides that,I love them too much and see them lacking and I won't be able to help out,I have decided to join either a corporative or a thrift,@least that would make it easier to save since the money won't be in my account.
The one problem I have with her is she loves her children more than herself,my younger bro was going back to school and she went ahead to collect a loan that she pays weekly for him to get new clothes,personal items and foodstuff. I was soo damn angry when I heard,how can someone collect a loan for personal items when its not for business. I once gave her money to get some personal item for herself,my younger ones were having their school party and she gave them to buy shoes for themselves. She doesn't even care about her self and I feel its becoming too much. If one wants to be successful, then one has to deprive his/her self of certain things.
I don't know if you know what bitcoin is but I wish you do so you can benefit greatly from this advice.
Bitcoin is the best place to save money right now especially for those in Nigeria who earn Naira that keeps losing value by the day. Its price is projected to continually rise as it's far from its peak potential.
Instead of saving money in the bank I just use it buy bitcoin and leave it there. If there is an extremely urgent need for the money, I sell part of the bitcoin(which would have tremendously gained more naira than I bought it for) for cash.
You should really consider it and ask for help if necessary.
Re: Do Parents Have A Say In Our Financial Matters? by Windflower(f): 3:07pm On Nov 28, 2017
olujastro:

I don't know if you know what bitcoin is but I wish you do so you can benefit greatly from this advice.
Bitcoin is the best place to save money right now especially for those in Nigeria who earn Naira that keeps losing value by the day. Its price is projected to continually rise as it's far from its peak potential.
Instead of saving money in the bank I just use it buy bitcoin and leave it there. If there is an extremely urgent need for the money, I sell part of the bitcoin(which would have tremendously gained more naira than I bought it for) for cash.
You should really consider it and ask for help if necessary.
Yes,I heard about it but don't really understand how its works. Would you mind sharing?
Re: Do Parents Have A Say In Our Financial Matters? by olujastro: 4:08pm On Nov 28, 2017
Windflower:

Yes,I heard about it but don't really understand how its works. Would you mind sharing?
OK, no problem.
Re: Do Parents Have A Say In Our Financial Matters? by Gettreadyy(m): 3:10pm On Jan 06, 2020
I read your diary and i liked it, pls continue
Re: Do Parents Have A Say In Our Financial Matters? by Druss(m): 10:08pm On Jan 06, 2020
The only thing I will say is 'Pay yourself first'. If you understand that then you are on the pathway to freedom.

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