how's this for an idea?

iVillage Member
Registered: 04-16-2003
how's this for an idea?
Fri, 04-25-2003 - 10:55am
Here's what I am working on.

Right now, I need about $15,000 to get myself out of this HUGE hole I've dug. I have parents who are not SUPER wealthy, but let's just say they have their poop in a group when it comes to finances/money issues. I can't tell you the # of times I've asked them to 'spot me $100 till payday' and they always come through.

However, I haven't always been honest w/ them about WHY I needed the money - often I've come up with some really elaborate tales of how I screwed myself up in my checking account or forgotten a major bill was due, etc...

So, I am sick to death of all this lying and living in the RED. What I decided to do is this: I am coming clean. I am going to make a spreadsheet, showing my parents what I do w/ my money - including all the frivolous/stupid crap I spend it on...including the money I owe for "check n go" and all that stuff.

I am hoping this will convince them to help me get a debt consolidation loan.

iVillage Member
Registered: 03-26-2003
Fri, 04-25-2003 - 2:36pm
Don't forget you have to prove to them you've changed your spending habits and won't get into trouble again. Good luck! If anything, getting it off your chest will feel great!



Avatar for zaboz
iVillage Member
Registered: 03-26-2003
Fri, 04-25-2003 - 2:37pm
I guess that depends on your relationship and how involved you want them.

I don't think you're really "lying" or need to "come clean". You're a grown adult and they aren't necessarily entitled to the details of your finances.

If you're comfortable doing this, then go for it. But I would worry that you are

inviting their criticism and commentary on your life ("oh, you're buying a new purse??").

It would bring you into more of a dependent relationship, than existing as an independent adult. You're making a decision that you can't take back. You might

find that they label you as "bad with money" from now on or they constantly

patronize you.

I would give it some thought. There are other ways you could approach this. How about credit counseling or transferring your balances to a lower rate card?

A spreadsheet's a great idea but I don't know if I'd share it with your parents.

Not to mention that if you do this on your own, it will give you a greater sense of satisfaction.

But that's just my take

and you need to do what works for you! Good luck! Either way I know you will get there!