I have used the bank for 'bad weather' loans whilst unemployed when the bank balance hit zero or just after i got a job to cover the first month expenses until payday. I now pay it back 'slowtime' in monthly installments.
Bank of Mom and Dad - Do you do it?
Started by
Dave SYP
, Jun 29 2012 01:20 PM
50 replies to this topic
#27
Posted 29 June 2012 - 06:17 PM
I've borrowed money from my Gran and Parents. Gran lent me the money for my old car, paid her back at £100 a month. Parents leant me money to pay for my insurance, would have only needed to borrow £100/£200 or so, but my car broke and had a £1,200 bill...so had to borrow quite a bit for that!
However, I have finally paid my parents back, and paid my overdraft off on Wednesday...best feeling ever!
Also means I'm £140 a month better off, not paying parents back or overdraft fees
.
However, I have finally paid my parents back, and paid my overdraft off on Wednesday...best feeling ever!
Also means I'm £140 a month better off, not paying parents back or overdraft fees
.
#28
Posted 29 June 2012 - 06:32 PM
I have used the bank of dad when I bought my first car last summer after just passing my test .. I thought I had the insurance covered until I saw the initial deposit which was around £800! I only had to borrow £300 and although it wasn't a massive chunk to him I paid him back over 3 months as I was only working part time then.
I now work full time on salary but I'm only 18 so still live at home .. I pay £200 per month for my keep as well as buying odd bits every week like big soap powders etc. Sometimes my dad will be short of money when he's in the last week of the month before pay day so I will help out, like recently I paid for a full service and MOT on his car as well as his 6 months road tax .. He insists he will pay me back and offered me the money but at the end of the day I don't need it and I have plenty of money building up in the bank as I'm not much of a spender, so it would still be sat in there now if I hadn't have lent it him. I suppose its a way of saying thanks also as I was really spoilt as a child.
My brother on the other hand .. Biggest Screwge going .. Will borrow money and will never repay and if you lend 20p for the car park he expects it back even if the reason for parking up is so he can go and get something!
I now work full time on salary but I'm only 18 so still live at home .. I pay £200 per month for my keep as well as buying odd bits every week like big soap powders etc. Sometimes my dad will be short of money when he's in the last week of the month before pay day so I will help out, like recently I paid for a full service and MOT on his car as well as his 6 months road tax .. He insists he will pay me back and offered me the money but at the end of the day I don't need it and I have plenty of money building up in the bank as I'm not much of a spender, so it would still be sat in there now if I hadn't have lent it him. I suppose its a way of saying thanks also as I was really spoilt as a child.
My brother on the other hand .. Biggest Screwge going .. Will borrow money and will never repay and if you lend 20p for the car park he expects it back even if the reason for parking up is so he can go and get something!
#29
Posted 29 June 2012 - 07:55 PM
My parents put me through Uni at great expense to themselves to minimise my debt, they insist that I don't have to pay it back and should forget about it, but in any sort of argument it always gets brought up! My Dad has his own business that he is looking to sell, I've been told that enough for a deposit on a house will be put aside for me.
I'm greatful for all I've been given over the years, but I don't feel comfortable with it all if I'm honest, my parents came from working class backgrounds, lived in shipyard housing in one of the poorest areas of the north east, but made good and were never handed anything on a plate. I would much rather work for the things I have than be handed them on a silver platter!
I'm greatful for all I've been given over the years, but I don't feel comfortable with it all if I'm honest, my parents came from working class backgrounds, lived in shipyard housing in one of the poorest areas of the north east, but made good and were never handed anything on a plate. I would much rather work for the things I have than be handed them on a silver platter!
Edited by Jeebs, 29 June 2012 - 07:56 PM.
#30
Posted 29 June 2012 - 10:16 PM
I am one of four, all girls, anything one of us gets, the other three want. My parents are divorced now and have taken two of us each financially. We never wanted for anything, but it was never just given to us, we had to earn it. I had ponies when I was younger, which my parents funded, but again I had to earn it, and had to prove to them I was dedicated to looking after a horse.
I took out student loans to go through university and will pay those off bit by bit myself, they didn't pay for anything. My mum bought me my first car, and subsequently my second too. I then won a car which I gave to my mum as a thank you.
So yes I do use the bank of mum and dad. However I work hard, I've had 3 jobs at any one time, everything I own I have bought myself (except the car and the new laptop...) but other than that it's all my own and I'd say I was self-sufficient and independent. My parents would of course help me out if I ever needed it, but I have learnt to try and sort it out myself before I ask them.
I took out student loans to go through university and will pay those off bit by bit myself, they didn't pay for anything. My mum bought me my first car, and subsequently my second too. I then won a car which I gave to my mum as a thank you.
So yes I do use the bank of mum and dad. However I work hard, I've had 3 jobs at any one time, everything I own I have bought myself (except the car and the new laptop...) but other than that it's all my own and I'd say I was self-sufficient and independent. My parents would of course help me out if I ever needed it, but I have learnt to try and sort it out myself before I ask them.
#31
Posted 29 June 2012 - 11:00 PM
Mmmmm. Time to fly the nest then eh?
Hopefully soon, but it's near on impossible to do it on your own nowadays.
#32
Posted 30 June 2012 - 10:38 AM
I don't like to do it but yes I sometimes borrow money off my parents and re-pay it back when I can. My parents have always said that they would rather they loaned me some money if times are tough than me get into financial difficulties. However I do have some savings and would rather use them than my parents to bail me out. My parents are always very fair and like to give equal assistance to my sister if she needs it too. The expectation however is that I will look after them in their old age - especially since I am the only sibling living in the UK and currently without a family of my own to look after.
#33
Posted 02 July 2012 - 03:39 PM
I now know why he gave me his car. I went to see my dad on the weekend to discover he has bought himself a 1 year old 3.5l BMW Z4. Giving me his Audi clearly gave him the perfect excuse for a new car!
#35
Posted 05 July 2012 - 09:23 PM
I got 'mugged' again today!
What did you end up shelling out for Dave?
#36
Posted 06 July 2012 - 12:25 AM
i think the most i ever asked for was £30. i had four years living nearly 400 miles away from my close family on an apprentice wage and there were times when i ran out of beans bread and pasta.
i dont see the harm in asking but one thing that does grind my gears is people my age (24) who stil live at home with no aspirations of getting their own place because of a 'cushty' lifestyle
i dont see the harm in asking but one thing that does grind my gears is people my age (24) who stil live at home with no aspirations of getting their own place because of a 'cushty' lifestyle
#37
Posted 06 July 2012 - 08:20 AM
i think the most i ever asked for was £30. i had four years living nearly 400 miles away from my close family on an apprentice wage and there were times when i ran out of beans bread and pasta.
i dont see the harm in asking but one thing that does grind my gears is people my age (24) who stil live at home with no aspirations of getting their own place because of a 'cushty' lifestyle
Amen. there is a small part of me that envies their Lifestyle but not there future. Only a few small number of my friends are in decant jobs or even working.
Its strange all they still do is hang around one of my friends basements and play board games and get drunk. They just seem to survive on the bank of mum and dad and just say they don't want a proper job...
Its strange as they all went to Uni, Grammar & some of them private school, now they are bums.
I do remember the good old days of playing the odd board game with my mates myself but i have kind of grown up now
Anyone else like these:
Catan
Risk
Axis & Allies
#38
Posted 06 July 2012 - 09:42 AM
For the record, I class myself as Yorkshire, so there is only one in Lancashireian person in this topic
You just can't help some people!
#39
Posted 06 July 2012 - 09:48 AM
I have done, yes. For university fees and for my rental deposit when I first moved out of home. All of which have gone in a red book and are accruing interest, and I'm paying off on a monthly basis - my dad used to be quite high up at a 'country-wide' Building Society and so does these things properly 
I don't see anything wrong with borrowing money from parents (provided it is a reasonable amount and for good causes), so long as it isn't just a handout, and that it's never expected. I have never asked my parents, they have always offered.
I don't see anything wrong with borrowing money from parents (provided it is a reasonable amount and for good causes), so long as it isn't just a handout, and that it's never expected. I have never asked my parents, they have always offered.
#40
Posted 06 July 2012 - 11:34 AM
Well, it was a 'donation' to my daughter's engagement party really, so I don't think this one counts. But, I'm getting ready!What did you end up shelling out for Dave?
#41
Posted 06 July 2012 - 12:23 PM
Well, it was a 'donation' to my daughter's engagement party really, so I don't think this one counts. But, I'm getting ready!
Awww you cant claim that one you should be happy to help her celebrate
#42
Posted 06 July 2012 - 12:51 PM
I am! Anyone had to buy new boots, raincoats or umbrellas lately?Awww you cant claim that one you should be happy to help her celebrate
#43
Posted 06 July 2012 - 01:12 PM
Kind of, I went to London at the weekend at went to Greenwich market it was p***ing it down so in the Market I buy myself a rather nice leather jacket even if it is a bit warm this time of year. Shortly after the heavens cleared and it was hot so I had to carry it under my arm
#45
Posted 09 July 2012 - 10:50 AM
Can I adopt you?
i can sew, iron properly, do all the washing, do my own laundry, polish shoes/boots to a mirror shine, hoover, dust and i am a genuine all round nice guy.
il agree to this if there is a possibility of a Sunday dinner every now and then
Peter
#46
Posted 09 July 2012 - 12:10 PM
With all these attributes, I think you will end up getting snapped up, mothered and possibly smothered.i can sew, iron properly, do all the washing, do my own laundry, polish shoes/boots to a mirror shine, hoover, dust and i am a genuine all round nice guy.
il agree to this if there is a possibility of a Sunday dinner every now and then
Peter
#47
Posted 09 July 2012 - 01:44 PM
i can sew, iron properly, do all the washing, do my own laundry, polish shoes/boots to a mirror shine, hoover, dust and i am a genuine all round nice guy.
il agree to this if there is a possibility of a Sunday dinner every now and then
Peter
Do you offer teaching?
My Wife could do with some pointers on the ironing she always takes ages to do it
#48
Posted 09 July 2012 - 02:31 PM
I'd be getting my face ironed if I'd made a comment like that!Do you offer teaching?
My Wife could do with some pointers on the ironing she always takes ages to do it
#49
Posted 10 July 2012 - 08:07 AM
i can sew, iron properly, do all the washing, do my own laundry, polish shoes/boots to a mirror shine, hoover, dust and i am a genuine all round nice guy.
il agree to this if there is a possibility of a Sunday dinner every now and then
Peter
If you do all that yourself there would be a Sunday dinner every weekend. Guaranteed.
Would you like to give my son some tips?
#50
Posted 10 July 2012 - 09:07 AM
I'd be getting my face ironed if I'd made a comment like that!
Yeah I would too but luckily on here I can run riot. Wuhahahaha
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