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People rally around parents asking if refusing to help daughter with credit card debt is wrong

Knowing that the daughter had been irresponsible with her credit card spending, the parents decided not to bail her out.

People rally around parents asking if refusing to help daughter with credit card debt is wrong
Representative Cover Image Source: Pexels | Mikhail Nilov, Reddit | u/Antique-Duty-9547

We live in a time of high cost of living and unpredictable economic conditions. The internet is full of stories where people rant about how even a six-figure salary is not sufficient for a family. Amid this scary situation, some young people still rely on their parents to help them out of debt. Recently, one parent—who goes by u/Antique-Duty-9547 on Reddit—explained why they didn't offer financial help to their daughter and the post garnered huge support. Having taught their children to manage their finances well, this parent wasn't willing to bail their daughter out of credit card debt.

Representative Image Source: Pexels | energepic.com
Representative Image Source: Pexels | energepic.com

The 24-year-old daughter was living on her own and had a job that was quite sufficient to support her. However, the parent felt that she was living beyond her means. "I have told her so many times to cut back and even offered to help make a budgeting plan. Every time she tells me that she knows what she is doing," the parent wrote. Also, the parent mentioned in one of the comments that the daughter was taught well about money management and that she never had this issue in college. Once she started earning "adult money" things spiraled down. Eventually, the daughter had to get her reality check after being a lavish spender. Turns out, her credit card debt had shot up to $3000 and she was not even capable of paying the minimum payment. 

Representative Image Source: Pexels | RDNE Stock Project
Representative Image Source: Pexels | RDNE Stock Project

The panicked daughter called up her parent asking for financial help. "She asked me to lend her the money to bail her out. I told her I wanted to see her transactions on the credit card," the parent wrote and added, "I was going to help her if she was making essential purchases." Unfortunately, the transactions were not all essential purchases. The parent pointed out that the daughter had been extravagantly using her credit card for shopping on Amazon and clothing stores and for eating out. Also, the parent was critical of how the daughter was planning a vacation that she could not afford and pointed it out to her.

"I told her I will not bail her out of that debt since she is living beyond her means," the parent mentioned. Though they refused to lend money right away, the parents were ready to help with a budget plan for the daughter. They told her that though living by a budget might be uncomfortable for a few months, it would be fruitful over the long term. However, the daughter was not ready to take anything besides financial help. She became frustrated and got into an argument with her parent. Wondering if they were wrong not to help her, the parents sought help from the internet and received overwhelming support.

Image Source: Reddit | u/SatelliteBeach123
Image Source: Reddit | u/SatelliteBeach123
Image Source: Reddit | u/ncslazar7
Image Source: Reddit | u/ncslazar7

"NTA. I really like your plan. There is an old book called 'The Wealthy Barber.' I bought it years ago, I gave it to my son about five years ago. It is a very helpful book to learn how to plan and budget. I think what you did, not bail her out, was essential. Because if you bail her out, she will continue with her behaviors," commented u/Dark54g. "This absolutely needs to be nipped in the bud. If you bail her out she will go on living as if there is always a comfortable cushion to land on," wrote u/kurokomainu. "The minimum monthly payment on a debt of $3k is anywhere between $20-$50 depending on the provider. If she doesn’t have $20 lying around in her coin jar then she’s in serious need of overhauling her budgeting and finances," pointed out u/RevolutionaryRent716.

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