That moment when…

amother

Fri, Sep 01 2023, 1:47 pm

Just experienced that jarring moment when you realize that your 14 year old daughter has more babysitting money in her account than you have in yours.

She has almost $2000 saved up.

I have $925 in my checking account.
Plus a $2200 credit card bill.

Literally never thought this would be me. We both work and are very careful, I am just spending on essentials. Family of 9.

No one to share with IRL, so just putting it here.

I know Hashem will help, I’m just shaken up right now.

amother

Daphne

Fri, Sep 01 2023, 2:06 pm

My kids pointed out to me that my 1 year old is richer than me.

He has about $20. I have over $30,000 in credit card debt!

I'm sorry OP! Hope things go up from here!

amother

Vermilion

Fri, Sep 01 2023, 2:10 pm

amother Daphne wrote:

My kids pointed out to me that my 1 year old is richer than me.

He has about $20. I have over $30,000 in credit card debt!

I'm sorry OP! Hope things go up from here!

Haha same.

amother

Cappuccino

Fri, Sep 01 2023, 2:26 pm

Hugs!

I totally lent my parents money as a teenager. Looking back now as an adult it must have been such a horrible thing for them to have to ask their single living at home kids to lend money.

amother

Blushpink

Fri, Sep 01 2023, 4:32 pm

amother Daphne wrote:

My kids pointed out to me that my 1 year old is richer than me.

He has about $20. I have over $30,000 in credit card debt!

I'm sorry OP! Hope things go up from here!

Why do your kids know that?

amother

Fri, Sep 01 2023, 4:33 pm

amother Starflower wrote:

Horrible feeling but to put it in perspective is she clothing and feeding a family too?

Right, obviously not.

But still, it was a weird realization.

amother

Fri, Sep 01 2023, 4:33 pm

amother Cappuccino wrote:

Hugs!

I totally lent my parents money as a teenager. Looking back now as an adult it must have been such a horrible thing for them to have to ask their single living at home kids to lend money.

I really don’t feel right asking that.

And I’d be worried I can’t pay back and that would be terrible.

amother

Fri, Sep 01 2023, 4:35 pm

amother Daphne wrote:

My kids pointed out to me that my 1 year old is richer than me.

He has about $20. I have over $30,000 in credit card debt!

I'm sorry OP! Hope things go up from here!

That’s really hard. I don’t know how to fathom it. Do you pay like $1000 interest every month?

I don’t ever allow myself to go into credit card debt. I pay every month or don’t spend it.

This month I had urgent expenses and I couldn’t get it together. Would’ve tried to plan better all year if I would’ve known.

Gah, this stuff is so hard.

amother

Freesia

Fri, Sep 01 2023, 4:50 pm

amother OP wrote:

If all you have is a $2200 credit card balance you are doing fantastic .

My kids bank accounts have more than me too.
If they paid their own tuition and food their accounts would be empty like mine.

amother

Seagreen

Fri, Sep 01 2023, 5:01 pm

amother Blushpink wrote:

Why do your kids know that?

This. My parents filled me in on their financial struggles and it took over my childhood and teenagehood, I was so nervous and scared. I don’t think they knew how it affected me.

Keep your kid’s childhood free of money worries. They’ll have the rest of their lives to stress about money. You’re supposed to protect them now.

amother

Daphne

Fri, Sep 01 2023, 5:24 pm

amother Blushpink wrote:

Why do your kids know that?

They know I have debt. They don't know the numbers.

I also tell them about bitachon and demonstrate that I am not worried.

There are times we can't afford things, and they know I'll buy what they need even if I don't have the money for it yet.

Different parenting methods for different folks!

amother

Lemonchiffon

Fri, Sep 01 2023, 5:26 pm

Oy so hard. Wishing u all yeshoos.

Financial reality of middle class

If u have assets house, even car jewelry, then it sort of changes the facts

amother

Mayflower

Fri, Sep 01 2023, 5:28 pm

amother Seagreen wrote:

Same here. I would have such anxiety!

amother

Vermilion

Fri, Sep 01 2023, 5:30 pm

amother OP wrote:

I hope you never have to fathom it. Some people do their best and just don't have enough and need to put it on credit card.
People always say they're not responsible spenders, living outside their means, etc.

But it's not so simple. Life is just so expensive

TwinsMommy

Fri, Sep 01 2023, 6:58 pm

My son (16) had his first job. To watch him spend his money on candy and ipad apps and he spent 60 bucks on little tiles representing each element of the periodic table and also blank tiles because one was spelled wrong so then he made his own. And then magnets to go on the backs of the tiles. Meanwhile we're $150,000 in debt and every paycheck that comes in goes immediately out to bills with just a bit left for food. It's so ironic and a weird feeling. But BH we have a roof over our heads and food in our mouths and his few hundred in savings wouldn't sustain him out in the real world so he gets to fritter it. Smile

amother

Slateblue

Fri, Sep 01 2023, 8:00 pm

amother Seagreen wrote:

Well I had the exact opposite experience. My parents kept everything top secret and confidential. Practically, it didn’t have too much of an impact on our lives, but it was frustrating how secretive they were.
No, you can’t have a bank account
You can’t get a paying job
I can’t tell you why you’re starting school late (again)
Things like that. Never gave explanations. I think that a little openness could’ve helped our relationship. They chose to say no, but without an answer, they had to listen to my teenaged tantrums lol.