UnThreaded | Threaded | Whole Thread (48) | Ignore Thread Prev | Next
Author: buckmizer Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 311074  
Subject: Re: Me vs. My Parents $40K Debt (Long) Date: 9/7/2004 1:41 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 5
The fact that you are holding on to this pension-loan-thingy so tightly as the light at the end of the tunnel or "backbone" as you say, is one why your parent's should NOT do it.

Crunching the numbers is only a small percentage of addressing the problem, behavior IS the problem. Yes, they are spending less, but they still see debt as the answer to their problems. And have treated debts that ignored pets in the past. And do you honestly think that they will go through 4 years of your sister's college without borrowing more money? No. Something that they HAVE to provide for with HAVE to be made happen and they WILL borrow.

You have gotten some great responses here and I don't think that you would have if you have not done a lot of things right already. The pension loan could wreck all of that, though--and that's why everyone is so strong in opposing it.

They have stood behind every decision I have ever made (except buying the motorcycle, but thats a whole different story, which does infact have a happy ending) and I will do the same for them, helping them along the way as best I can.

There is something that I think that you should step up and do and that is recouping their cost for your college education. But that's coming from a guy who got his first job at 9, and paid his way through private high school and then college. People have different ways at looking at this. Personally, I never thought my parents were obligated to pay for anything that I didn't need before the age of eighteen.


Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (48) | Ignore Thread Prev | Next


TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.