Latest news with #financialresponsibility
Yahoo
3 days ago
- Business
- Yahoo
Woman Accused of Being 'Heartless' for Refusing to Loan Brother $4,500 to Avoid Eviction
A woman on Reddit is looking for feedback after she was asked to loan her brother $4,500 to help him pay overdue rent and avoid being evicted The mother of two declined, though her mother called her "heartless" for refusing to help Now she's torn after her mother accused her of not seeing a good example for her childrenA woman turns to Reddit for support after facing a difficult decision involving her brother's financial struggles. The 28-year-old mother of two shares that her brother, who is in his mid-20s, reached out to her asking for $4,500 to help cover overdue rent and avoid eviction. 'He's been struggling financially for a while now because of poor spending habits, and now he's in danger of being evicted,' the woman explains in her Reddit post. 'He said his life would 'fall apart' if I didn't help.' While sympathetic to his plea, she ultimately decided against lending him the money, as she felt compelled to prioritize her own family's needs over his. The woman and her husband are both working full-time jobs while juggling financial responsibilities like saving for the future and paying off debt. With two young children, their focus is on ensuring their kids have everything they need. She expresses that lending such a large amount of money wasn't feasible for them at this time. 'We're not in a position to throw around that kind of money,' she shares, 'especially since I have my own family to take care of.' But her decision did not sit well with her mother, who called shortly after to chastise her for refusing to help her brother during what she describes as a 'crisis.' According to the woman, her mother accused her of being selfish and failing to live up to family values. 'She said I was being selfish and that 'family comes first.' She told me I could always rebuild my savings later and I should help my brother because he's in a crisis,' she recounts. The criticism didn't stop there. Her mother went on to question the example she was setting for her children by choosing not to help their uncle. 'She even said, 'Don't you want to show your kids what family is supposed to be? That's the kind of example you should be setting,' ' she adds. The guilt trip has left her feeling torn between her obligations as a mother and a sister. Adding to the pressure, the woman revealed that her mother has been spreading negative remarks about her refusal to other relatives. Never miss a story — sign up for to stay up-to-date on the best of what PEOPLE has to offer, from celebrity news to compelling human interest stories. 'She doesn't speak to me but is telling other relatives that I'm 'heartless' and 'unsupportive,' ' she writes. Family members have since reached out, echoing similar sentiments and urging her to reconsider helping her brother financially. Despite the mounting criticism, the woman's husband has remained firmly on her side, supporting her decision not to lend the money. While his encouragement has been a source of comfort, she admits feeling overwhelmed by guilt and frustration over how the situation has escalated. 'I feel so bad and I want to be a good person, but I am in an impossible position,' she confesses. 'Them throwing it in my face is so vile.' Read the original article on People
Daily Mail
6 days ago
- Business
- Daily Mail
I'm 24-year-old with £80,000 in savings - here are the things I'd NEVER spend money on so I can retire at 40
A young woman who is 'hoping to retire early' has revealed the items she would 'never' spend her money on. Mia Rose McGrath, who is 24 and has £80,000 in savings, hopes to retire by the time she's 40. She currently lives in London in a zone 2 flat that she shares with her partner and split the rent and bills equally. Mia hopes to 'soft retire' by the time she's 40 - meaning she will likely still do part time work or things she's 'passionate' about, but won't need to work full time to 'stay alive'. As well as having 'side hustles' which she credits with gaining her £10,000 in the past year, there are certain things Mia doesn't spend money on to help her save. She says she will rarely spend cash on things like takeaways and coffees - only having them when she's with friends. 'These are the things I just don't spend money as a financially responsible 24-year-old who wants to retire early,' she said in her TikTok video, which has racked up more than 500,000 views. The first thing on her list is takeaways - and she says she doesn't even have the Deliveroo app on her phone. However, she makes an exception if she's hanging out with friends. She explained: 'I won't get a takeaway if I can't be bothered to cook. If you can cook really good food, you just don't need to get a takeaway. 'And also, eating in the actual restaurant is so much nicer.' In a similar vein, she also doesn't usually treat herself to a coffee or a pastry - but still gets them with friends. 'I don't see the point of buying one every single day. They're four or five pounds sometimes. That really adds up,' she added. The third item on which she's unwilling to splash the cash is home decor and trinkets, instead collecting them over time when she's given them as gifts. Mia referenced the viral 'labubu' trend - 'monster toys' that have grown popular on social media - and said she would never be caught buying one. She also doesn't buy 'extra' make-up and skincare beyond the 'capsule' collection she sticks to. She said: 'I couldn't tell you the last time I tried out a new product. I really just stick to the same routine of the same essential products and I just top up when they run out.' When it comes to alcohol, Mia said the maximum she'll spend at a time is around £15. 'I'm just not a big drinker. If I'm out with friends, I'll probably just have one or two,' she explained. While some people praised her for her 'sensible' financial decisions, others were worried she's not having enough 'fun' in her 20s. Taking to the comments, people wrote: 'No hate, but what do you do for fun? There's a fine line between being sensible to save money and doing/ buying nothing. You should set some cash aside for treats'; 'Remember to enjoy life as well, I'm 31 and saved a lot during my 20s and now have £200k+ savings, does it make me happy, not really'; 'I thought this is normal... I guess I'm just poor lol'; 'At your age, you're going to make an incredibly big positive difference to your (early) retirement by investing with the savings you're making with these choices'; While some people praised her for her 'sensible' financial decisions, others were worried she's not having enough 'fun' in her 20s 'This is fantastic. I'm exactly the same. Most people love wasting money and they hate seeing others being frugal, because it illustrates their bad spending habits'; 'The amount of money I've wasted on takeaways just to feel awful after eating them anyway is scary.' In another video, Mia revealed there are some items she will splurge on. These include experiences, buying whole foods and renting a nice flat. She also revealed how she's managed to save £80,000 at just 24 years old, revealing she hopes to increase it to £100,000 this year. Mia said she always. 'pays herself first', paying money into her savings account at the start of each month She also credits her savings to becoming 'financially literate' and learning about the stock market. She said that she's spent time 'living below her means' and when she was living at home and had disposable income, saved it towards a home deposit. The financially savvy TikToker emphasised the importance of her side hustles - which include modelling, UGC, content creation and affiliate marketing. In addition, she's done two placements and has been working full-time, saying it took her around five years to reach the savings goal. Though she and her partner split their rent and bills equally - due to being the same age and earning a similar salary, she admitted other things have a 70/30 split. Mia believes the 'man should be trying to impress a woman a little bit more' as it keep the romance alive - for example, she will be spoiled by her partner for Valentine's Day and on birthdays.
Independent Singapore
6 days ago
- Automotive
- Independent Singapore
‘Why should I pay for a car I won't use?' — Singaporean upset after parents ask him to pay for family car's COE
SINGAPORE: A young Singaporean who only recently started working took to Reddit to ask if it was unreasonable for him to refuse to contribute to his retired parents' car expenses. Posting anonymously on the r/SingaporeRaw forum, the user shared his confusion and frustration after his parents asked him and his sister to evenly split the cost of the Certificate of Entitlement (COE) for the family car. 'I think it's crazy to be spending more than half of my assets for something I don't even want, and I thought the question itself is kinda outrageous,' he wrote. 'The thing is, both my sis and I don't have driving licenses yet, plus I believe that a car is a luxury item in Singapore, not a necessity, so I don't even want to buy a car for myself in the future in the first place, much less pay for a family car.' When he tried to express his concerns, his parents pushed back. 'When I told them this, they mentioned that they paid for the previous and current car, and how much they 'need' it.' However, the user felt this was more of a lifestyle choice than a true need. 'I think it's a privileged mentality because I don't recall the last time they took the MRT or bus. And also if they really need it, I thought, just rent a car – it's so much cheaper and we won't have to pay for insurance, maintenance, etc, or just use Grab.' The user ended his post by asking others in the community, 'Do any of your parents also ask you to split for the family car, especially when you just start working? And do your parents even ask you such a thing?' 'They're basically handicapping your future…' Many Redditors who responded echoed his disbelief. Several commenters said they, too, would find such a request unfair. One said, 'This is ridiculous. Your parents want to purchase a car for their own usage and they are asking you and your sister to pay even when ya'll don't have a driver's license yet. This means you lose out even more. They probably got too used to having a car to transport themselves around, and now, when they can't afford it after retirement, they're getting y'all to share the costs.' Another commented, 'No. That's selfish of them. They're basically handicapping your future just so they can continue enjoying having their own vehicle.' A third added, 'Typical sinkie parents who believe that the children are an extension of their resources. They see children as a safety net for their incompetence.' Still, some Redditors in the thread felt the user should try to understand his parents more. One Redditor shared a similar experience from a few years back, writing, 'My parents asked that my three siblings pay for the COE for the old car as well. All of us had already moved out. Each of us forked out S$15k for the S$45k COE then. This was about seven years ago.' Although the Redditor admitted they weren't entirely pleased with the arrangement, they chose to pay without protest. 'I wasn't thrilled about it, but I paid. I just thought of it as a one-time payment for my uni fees since my parents paid for it.' 'At the end of the day, just think back to the money your parents had spent on you. If it's comparable (to your end of the cost of the car) and if you can afford it, pay up to maintain family bliss. Else, move out and make a clean break.' In other news, a woman was surprised when a man she went on a first date with asked her to send him money via PayNow for dinner, several days after they met. She shared her experience on the r/askSingapore forum on Saturday (May 31), explaining that she had agreed to meet the man, who is in his 30s, after they had developed a good connection through their conversations on a dating app. Read more: Woman says she's 'bewildered' after man asks her to 'PayNow him' for their first date dinner Featured image by Depositphotos (for illustration purposes only)
Yahoo
6 days ago
- Business
- Yahoo
Bride 'Blew Her Entire Savings.' Now, She Expects Her Sister to Help Pay for Her 'Lavish' Wedding
A woman is questioning whether she's wrong to refuse to help her sister pay for her "dream wedding," after she lost money in a multilevel marketing scheme In a post on Reddit's "Wedding Shaming" forum, the woman shared that her sister has asked to use her savings to fund her wedding "She knows I have a decent chunk of change saved and she's been dropping not-so-subtle hints about how I'm 'so responsible with my money' and 'don't have a mortgage yet' so surely I can spare some cash for her big day," the Reddit user wroteA woman wonders whether she's wrong to refuse to help her sister pay for her "dream wedding." In a post on Reddit's "Wedding Shaming" forum, the 30-year-old woman opened up about her sister's "serious main character energy when it comes to her wedding." "The kicker — she expects me to foot a significant chunk of the bill after she blew her entire savings — $25k — on a ridiculous MLM [multilevel marketing] scheme," she explained. According to the OP (original poster), her sister, a 32-year-old named Chloe, has a history of being "terrible with money." "Think impulsive buys loans for trips, the whole nine yards," the OP wrote. "Meanwhile, I've been diligently saving every penny for a down payment on a house. Our financial approaches are polar opposites." "About a year and a half ago, Chloe got completely sucked into one of those 'boss babe' wellness drink MLMs," she continued, referring to the business model where participants earn money from both selling products or services and recruiting others into the network. According to the Federal Trade Commission, many MLM companies are illegal pyramid schemes. "I tried to warn her gently at first, then more forcefully as she sank more and more cash into inventory and training. She was convinced she'd be a millionaire. Spoiler alert: she's not," the OP added. "She flushed her entire $25k savings down the drain and is now financially back at square one." According to the Redditor, Chloe is engaged and has plans for a "massive, fairytale wedding — the kind that easily costs $50k+" — and she's asked her sister for help paying for the lavish event. "She knows I have a decent chunk of change saved and she's been dropping not-so-subtle hints about how I'm 'so responsible with my money' and 'don't have a mortgage yet' so surely I can spare some cash for her big day," the OP wrote. Never miss a story — sign up for to stay up-to-date on the best of what PEOPLE has to offer, from celebrity news to compelling human interest stories. Eventually, the sister "straight-up asked" for the money, and the OP was taken aback by her justifications for the bold request. " 'You know,' she said, 'if you even threw in like 10 grand it would make such a huge difference. You don't really need all that house money right this second and this is my one shot at the wedding I've always pictured,' " the OP wrote, recounting the conversation. The OP said she absolutely "lost it" after this request and promptly shut it down. "I told her, 'Chloe there is NO WAY I'm paying for your wedding. You literally flushed your savings down the drain on a scam, even though everyone told you not to and now you expect me to bankroll your fantasy. My savings are for MY future, not to bail you out of your past mistakes,' " she said. Her sister got upset, calling the OP "selfish" and "unsupportive." The sisters' mom also took Chloe's side, telling her other daughter: "Family helps family." "Honestly, I feel a little bad for making her cry and I do love my sister," the OP admitted. "But I also feel like I'm being put in an impossible position. She made her bed and now she expects me to pay for the luxury sheets." In the comments section, readers were quick to take the OP's side, agreeing that she shouldn't have to fork over her hard-earned savings just because she isn't getting married or buying a home right now. "Any time she brings it up, just remind her that 'no' is your final answer," one person advised. "If she wants a $50k wedding, then she and her fiancé had better start saving that." "I find it extremely audacious that you are being asked to give up or push back your dream because of your sister's poor financial decisions," another commenter said. "She needs to learn to live within her means. And right now, those means do not extend to a $50k wedding." Read the original article on People
Yahoo
31-05-2025
- Business
- Yahoo
5 Money Challenges Wealthy Parents Face, According to Rachel Cruze
If you're not wealthy, it's hard to feel bad for wealthy people. You may even experience a spell of schadenfreude — or joy at their misfortunes — but not much in terms of compassion. But problems are problems, and rich people have them just as those belonging to the middle class and under do. And this includes money problems. We see this profoundly in the realm of parenting as wealthy parents face some unique financial challenges with their kids. Find Out: Read Next: Financial expert Rachel Cruze recently tackled this issue in a YouTube video. What are these challenges and how do you address them in order to raise financially responsible and resilient kids? In a household where all your needs are fully met and then some, it can be easy for kids to take everything for granted and not experience gratitude. 'This heart of gratitude, of being present where you are, is such a model of your character,' Cruze said. 'Teaching our kids that — to be grateful — even like, making them say 'thank you' and understanding where things are coming from, and the fact that not everyone has what you have.' It's up to parents to exemplify gratitude and to encourage their kids to reflect on their good fortune. Learn More: Wealthy parents may not need their kids to do things around the house. Perhaps they themselves don't need to do things around the house to a great extent and can turn to housekeepers and nannies to keep things in order. Cruze believes that kids must be tasked with contributing to the home at a young age. 'There's something that happens when your kids have a level of responsibility — and it can be something small, like just keeping their room clean,' Cruze said. 'When they complete tasks, around the home, there is a level of confidence that actually gets put into your kids.' If money isn't a concern at all, your kids probably have more toys, more extracurricular activities and more opportunities than kids in homes where money is tight. They probably hear 'yes' a lot more frequently than they hear 'no.' Parents, as Cruze sees it, need to bring some discipline to the home by telling their kids 'no' in certain situations. 'When you have the ability to say no and to stand your ground, get the repercussions of the tantrum or whatever the thing is, it is so key, because our kids have to learn boundaries,' Cruze said. 'The idea that money is just limitless is not an option.' Most of us in today's digitally addicted society could benefit from a refresher on patience. And parents need to be teaching their kids that gratification isn't always an instant thing. We need to model patience by not succumbing to impulse buys, just as we need to discourage our kids from getting whatever they want when they want it. 'Having the patience to save up and pay for something is huge,' Cruze said. 'This is true as adults, but your kids should do the same. Have them have a goal of something that they're saving up for.' Cruze added that in her home, they do no-spend months. This is a great exercise for parents trying to raise financially responsible and savvy kids. Who wants to sit in disappointment? Not a grownup and certainly not a kid. But sitting in disappointment and accepting, without a fight, that you are not getting what you want, whatever that may be, or that you have failed, is crucial because disappointment is a part of real life. Kids who are, for lack of a better word, spoiled, may not have a lot of opportunity to sit with disappointment because their parents are so quick to clean up every mess and spare their kids from painful consequences. 'A lot of parents are 'snowplow' parents, meaning they go through and pave the way so there's no bumps, no grooves, no 'oh gosh, am I going to fall down?'' Cruze said. 'It's like this perfect slope for your kids to go down with no issues.' Life is not a perfect slope, even if you never have to worry about making money or building wealth. Ensure that your kids understand — and personally experience — this reality, otherwise they'll grow up without knowing how to get back up from a fall, financial or otherwise. More From GOBankingRates 8 Common Mistakes Retirees Make With Their Social Security Checks 7 Luxury SUVs That Will Become Affordable in 2025 This article originally appeared on 5 Money Challenges Wealthy Parents Face, According to Rachel Cruze Sign in to access your portfolio
