OK, Ive been talking to my parents today and I was surprised. My mother just lost her job. That was their main source of income. They spent themselves deep into debt already. Now they have basically no way of producing income. My father works at a call center but that's only minimum wage. They got multiple credit cards and a mortgage. I was talking to them and asking them how they were doing and they said they just came back from the casino and they're getting a sattelite dish and a new 2,000 TV. Keep in mind they're already thousands of dollars in debt. Naturally I was like. I asked them how they were going to pay for it. They said they got it and not to worry. Even with their debt and getting no income they aren't willing to stop spending. Then we started talking about money and what they should do. They said they're not going to worry about it because there's always going to be debt. I just couldn't respond to that kind of stupidity so I just said well good luck in a few years and hung up. But I'm worried about them and what's going to happen to them in a few years. How do I help them get on track and get smart financially. I just wish I could take their money and pay their bills and get them food and take their spending money and pay off their debt. They believe in Tax and Spend think our current system of money and the federal reserve is a good thing. They also think that the more government and the more regulations the more safe they are. How do you guys think I can help them and teach them about money and what they're doing is going to make them lose everything they own. I tried talking to them but they just said you're too young to understand. You're only 18 you know nothing and we know more then you. I'm also not giving them a bailout if they crash and burn. EDIT: I don't know why I posted this here but this is where smarter more responsible people speak and I feel I will get smart and real answers here. Please move this if it should be in another place.
Hit them with logical fallacy argumentum ad verecundiam. Then explain to them that if they cannot pay their bills, that their bill collectors will pay them. - a visit, that is, with a repossession document and a couple bouncers to go along with it. Perhaps they have savings?
Better save the money you get because you're going to be taking care of them when their savings is all dried up. Or maybe they hit the super jackpot at the Casino.
I already told them if they lose everything the can't stay with me and i'm not giving them money to help them. I warned them...Besides that the don't approve of me smoking weed and I won't have them going on about it and throwing my stuff out when they're there.
They wont get it until it matters. That's the way people seem to operate. We never "figure it out" until something actually happens to them. My advice is set back some cash if you can just in case your folks need a new place to live. Be prepared. They took care of you so be prepared to take care of them, even if they just don't "get it" right now. With their attitude it seems like they'll find out sooner rather than later.
Just buy camping supplies including the tent, sleeping bag, etc. My other family is in the same situation as yours. In fact, every one of us are fucked even with debt or not.
My parents are the same version of stubborn. My father thinks he's right ...about everything.... and it really doesn't matter what I say. My mother is more reasonable. If I know my dad is actually wrong and just being stubborn because that's who he is, I talk to her. I give her the facts and let her decide if it's something worth the effort of changing his mind. She can get to him sometimes, so that is my suggestion. Try divide and conquer, (talk to the more reasonable one) it does sometimes work. Other than that, the best thing you can do is be prepared for the worst (them needing to move in with you). If they do that, you tell them that you smoke pot, you don't care what they think about it, and that if they do anything to mess with your stash they will be out on the street. It's your home so they would have to follow your rules. Good Luck
Absolutely true and excellent advice. + rep my friend. Unfortunately, this is the harsh reality for so many people in debt. My only advice would be to perhaps get them some financial planning information and give it to them. Even if it's something as simple as Dave Ramsey, it will likely help, and maybe help wake them up to the reality that living in debt isn't living. Unfortunately, when it comes to living in debt, we have our infamous Government to thank for leading by example...assholes.
I feel you there, NoHzee. My mom is the same way, in debt then decides to go and buy dumb shit all of the time. Can't seem to make a single smart decision. She thinks I'm the dumb one, yet I've done far more independently than she has helped me. I'm eventually going to put a new roof over our head, and I'm gonna smoke a fat ass bowl right in front of her when I do.
You might as well let them be. They are your parents and if you know the right thing and they dont by now, you arent going to be able to help them. I think alot of people have this attitude because of the situation so many people are in they feel hopeless. Tell them your opinion let them dwell on it then drop it and let them do what they want