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Do your grown-up Children owe you money?

Nowadays, with the cost of living, credit cards and high interest rates on loans, the bank of mum and dad seems preferable to borrowing elsewhere.

A new study carried out by MetLife, reveals that retired people are owed thousands of pounds by their grown-up children.

Nearly one in four pensioners are owed money by their grown-up children and many still live at home. The average amount owed by children over 18 to their retired parents is £3,100, with one in 10 owed more than £5,000, and the study also showed that nearly a million over-65s have adult children and family living with them.

Have you got an empty nest, or are you experiencing the boomerang generation, who end up back home after some time living away from home independently?

Have you been put in a situation where you have to lend your older offspring money to help them out of a sticky situation? Are you in a position to write off their debt or is there a repayment plan in place? 

 

Do your grown-up Children owe you money?

579 people have already voted, what's your opinion? Yes No

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celtwitch
20th Jul 2015
0
Thanks for voting!
I have a devious slimy skunk of a daughter who disappears from my life for years at a time. Suddenly, she's back in touch, usually via Facebook, and telling me how she has missed me and wants to 'put things right.'
So, I buy a ticket for her to travel to see me and within a couple of days she is spinning me another 'cock and bull' story about needing a sum of money to 'sort things out.'
Needless to say, muggins coughs up the dough and off goes daughter telling me it's 'definitely a loan' and she will pay me back some day.
Of course, she never does and if I mention her debt she becomes aggressive. It's been 5 years since her last visit to bank of Mum so I think she is due another visit soon. However, this time her account has been well and truly closed.
She will get not another penny out of me.
daydreams
16th Jul 2015
0
Thanks for voting!
I would never lend money to anyone, family or otherwise, and luckily my views are known so I've never been put in the position of having to say NO to someone.
Patrica Mason
12th Jul 2015
0
Thanks for voting!
why cant i find a decent and easy to enter senior chatroom
celtwitch
20th Jul 2015
0
Thanks for voting!
Do some research, I'm sure that what you want is out there somewhere.
0
Thanks for voting!
We are just abut to launch a new chat room for seniors at the end of the month so keep a look out Patricia 🙂
little owl
10th Jul 2015
0
Thanks for voting!
I was brought up to never borrow or loan money and to always save and buy what I wanted and never use credit other than a mortgage for our home. I stuck to that advice although sometimes difficult as my husband had not been brought up the same way. We brought up our son the same way and luckily he has carried on that way. We paid for his education which gave him an excellent start and he then joined the Navy and has never looked back even though he left the Navy at 24 as he had been sent on subs and hated it. He now has a first class honours degree and is a senior director of a very large international company.

Teach your children to save from day one, don't make things too easy.
pennyweb
9th Jul 2015
1
Thanks for voting!
I would never lend money to anyone in my family unless i was prepared to make it a gift. Debts can cause tremendous friction.
foxilady
9th Jul 2015
2
Thanks for voting!
My son who is in his 50's asked me if I would lend him money as he was in areas with his rent and could lose his flat. I asked him how much he needed he said £1,000. As he had been through a hard divorce I decided that I would lend it to him that was 3/4 years ago now and I haven't been paid back despite making many request. I am not a wealthy women and only had a small next egg left to me by my brother, which I invested wisely. Why do they think they have the right not to pay you back if they had been able to borrow from a bank they would have had to pay it back with interest.
stellaT
4th Jul 2015
2
Thanks for voting!
If they need it and I can afford to help them out, why not?
Munsterlander
3rd Jul 2015
2
Thanks for voting!
They do seem to constantly even though they are in their 20s. I am not bothered as I love spoiling them but when I was a lad...I can hear my wife saying "here we go again" we had no money and if I wanted cash I worked for it-simple. Bit different nowadays!

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