Manage Your Life
Wednesday, November 25, 2009
How do your parents feel about your finances?
partner
Obviously being on TV has
done wonders for my debt situation. I can’t go on and talk about
calling debt collectors if I haven’t
quite got around
to calling the debt collectors just yet. That said, telling mom and
dad (and step-mom and step-dad) that I was going to be airing my
dirty financial laundry on national television (and a pretty
popular
Web
site you all know and love) wasn’t my proudest moment. But if I
can do it, I bet you can, too. And if you can do it, have I got a
casting call for you!
There’s a BBC show called The Bank
of Mum and Dad, and it’s coming to the U.S. If you’re
chosen to appear (OMG! You’ll be like the
L.C. of personal finance!), you’ll get coached by a
financial advisor for five days, so you’ll have all the tools you
need for your very own financial makeover.
To apply you need to be:
- Between 25 and 32.
- Living in New York, New Jersey, Connecticut, or the Philly
area.
- Not
living with mom and dad—but they do need to be within driving
distance of your home and willing to participate.
If you’re interested, e-mail my friend Cara at
cweissman@bbcnyproduction.com and let her know:
- The details of your debt.
- How you—and your parents—feel about your finances.
So, how do your parents feel about your
finances? Are they in the dark? Or are you so financially awesome
that you could teach them a thing or two? Anyone brave enough to
audition for the new TV show?
More reality show reads, to get you in the right state
of mind:
by
Kim Fusaro
MORE FROM LITTLE MISS FORTUNE:
Related: reality tv, money, finance
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Posted by beautykween Thu Jul 9, 2009 11:44am PDT
ughh my dad is ALWAYS asking me how much money i'm saving, how much debt i have on my credit card, and all sorts of other uncomfortable personal financial questions. I am financially well-off and i carry less than $200 balance on a credit card at any given moment. he needs to butt out! it's like he taught me so well how to be responsible with money, but doesn't trust me. oh well, i guess he just has my best interests at heart.
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Posted by Katie B Thu Jul 9, 2009 1:48pm PDT
My parents don't care... and even if they did they wouldn't have much room to talk...
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Posted by countnchickn Fri Jul 10, 2009 7:55am PDT
I just lent my mom a grand and my dad asked me to finance a car for him. (They are divorced) Teach them a thing or two, I believe that's the understatement of the year. It is really insane. I have to give them a lecture when I lend them money. At 27 I never thought I would play this role. I guess they were always in trouble financially I was just to young to realize it. I learned my money habits from my grandparents thank goodness. Before they died I learned how much my parents owed them. It was very eye opening. That day I vowed to make good money decisions, I became an Accountant and am almost a CPA. So I guess all in all something good has come of it.
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Posted by Kristi O Fri Jul 10, 2009 8:37am PDT
I always ask my parents' advice before a major financial decision. They have handled their finances well and I respect their opinion highly. But they are also great about not intruding in my choices. They don't ask how much I have in savings or what I spend on groceries. It's a nice balance.
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Posted by Sesame seed Fri Jul 10, 2009 1:37pm PDT
My significant other gave his 25 yr old daughter a credit card on his Visa account and asked they give her a $2000 credit limit. He said he was trying to help her "establish credit". She maxed the card out in less than 3 months. She didnt pay the premiums, spent days shopping and became so financially in debt she had to move her husband and kids in with him. My significant other thought he was doing a great thing by helping her out. She mooched off her dad and went on vacation...all the while claiming she couldnt afford to pay her rent living on her own. I guess she didnt think about that while she was on vacation and ole dad was at work.
The bill collectors came after my significant other to get their money on the Visa card. He was very angry at the callers from the collection agency, but never once said a bad word to his daughter about paying her bill.
Now his credit is really bad. He tried to get a home equity line of credit to roof his house, and his score is so low, the bank scoffed at him.
He needs to collect off her the $2000. she screwed him on. He obviously never taught her money skills and she needs to learn that. I suspect her husband is being laid off. I hope old dads bank has ran dry.
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