Do you give money to family overseas?
March 31st, 2010 | 
Author: ??? asked:
If you have parents in another country, how much do you give them if you chose to give them money at all? I have family that is middle class, but since we are living in USA they seem to think we(me and my husband) have excess $ to give away and have asked for financial support. They have been in debt ever since I knew my husband (these are his parents) and I dont really understand what their money is going to waste on. I have offered solutions to my husband but he says the things I suggest are not possible for them(such as becoming a 1car family or selling their home to buy a smaller one) So, I agreed with my husband to send them money for birthdays, xmas and other than that, I dont think it is necessary to send money for any little thing they need (unless it is an emergency of course). What do you think?
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No, I don’t. But that’s nice of you.
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Well, you should be saving your own money to pay for kids (if you have any or are planning to have some–kids are VERY expensive) so you never had to make your kids go without the necessities; you should be saving to buy a house if that’s what the dream is. And you should be putting money into your retirement plans now so by the time you retire (and it comes up quickly when you aren’t paying attention) you’ll have a nice nest egg and won’t have to borrow from your own kids. Your in-laws should not be begging for money from you. Sending some money for holidays/birthday is fine. Since they are middle class, if they cannot live on their own income, then they should be cutting back somewhere. Yea, everyone everywhere thinks that Americans get handed huge chunks of money for doing nothing–that’s how good we are at making money seem easy (anything done really well looks easy to those who don’t do it). You and your husband shouldn’t go into hock because he wants to impress his parents.