Been on reddit a bit, always lurking at night. Hoping you awesome people could help me out.
Warning: Long, long post ahead.
To give you some insight, my parents are not the best with their finances, but they are trying to buy a house (currently renting a townhouse at the moment). They have been struggling with money matters ever since I was young and have been "borrowing" money from my sister and I since we were in college. I say "borrowed" since we both know we're never going to see that money again.
There are a lot of factors as to why they are trying to buy now. The part of the country we live in now already has crazy-high housing prices. If they don't move, it's going to affect my dad's possible job transfer, grandpa is getting old and trying to come live with us in the states.
My parents make enough money right now, but we foreclosed a house a couple years ago and it wont be until next year that my parents will be able to finance a house in their name.
They have been trying and trying and TRYING to make this work including naming my sister and I in the mortgage but our income doesn't really qualify.
Seeing my parents struggle financially growing up (and taking some advice from reddit about emergency funds and such), I've had the opportunity to save a sizeable chunk of money.
Now, my parents are trying to ask me to lend them some money, to the tune of 30K. I have a hard time mentally getting there to help them out. It took me a long time to save money up. It's my safety net in case there are more than just a couple of small bumps on the road.
I know the chances of me seeing that again are slim (even though my parents promise to pay me back at least 10K back in the next year with interest). They haven't been forthcoming with me about their finances in the past, and that's why I'm hesitant to trust them.
I feel like my parents are counting on me. But I really can't find it in me to let go of 30K.
All of your feedback and insight is much appreciated.
EDIT #1: Sorry, this is my first reddit post and didn't know formatting was kind of weird. Will try to figure it out as I go along.
Submitted June 23, 2017 at 03:19AM by underneath_the_moon http://ift.tt/2sI554b
