I would say that parents shouldn't borrow money from their children, but sometimes circumstances can't be helped, and it happens.
In India, it is a general tradition for children to live with their parents in their old age and to help them in their trying times, it might be financially or otherwise. So the question of borrowing money by parents doesn't arise. Its the duty of the children to help them monetarily now when they are grown up.
However, there might be some exceptions (not-so caring children).
I don't think that they should. At the same time adult children should not borrow money from parents. Unfortunatelly, sometimes life does not go as expected and bad things can happen. In those exceptional situations I think that it's okay for either to ask for help. The problem is that sometimes it's not an exceptional situation, sometimes some parents think that the children's money is also their money and that the children have an obligation to help (the opposite also happens). This is a very big problem and it's hard to say no to parents. This creates a lot of problems and the relationship is bound to get damaged on account of it. So, my opinion is, if things get rough, exceptionally, yes, it's okay. Make a living out of it (amazingly this happens), no, it's not okay, it's very bad and it's a poor example of parenting.
No, I don't think they should. My feeling is that most parents do EVERYTHING they can to help their children succeed, therefore, if an adult child has the means to help their parents a bit later in life, they should just help. I'm not talking loans, I'm talking about GIVING. I'm also not talking about fully supporting them, unless there's some sort of medical/extenuating circumstance. For example, if my mother said she had to pay an unexpected bill, but was going to be short on either food or heat, I'd give her what she needed to get by, with no precepts about repaying me. Believe it or not, most parents won't even accept it. I've had parents-in-law rip up checks and refuse to cash them.
Unfortunately, I think more and more people are faced with this problem of older parents being unable to support themselves. At least in the US, our culture is not set up for adult children to support their parents. It creates a lot of friction and stress, especially when the adult children are also struggling to pay for their own children's needs. I don't really think there is a right or wrong, but I do think the adult children should do what they can to help their aging parents, without sacrificing their own or their children's futures.
why not. i lent my wife's mom $37,000.00 to buy a house 3 years ago. it saved her a bundle on interst and it made it easier for her to live. it's only money and the day it becomes any more then that to me, i'll get rid of everything i have and become a hobbo.
Yes! I don't see why not. My parents do that sometimes and I have no problem with that. Most of the times I just allow them to keep the money. If they are in need I will certainly help, as long as I can help, they are my parents. There are times when I am faced with financial constraint and can't see my way through and who to turn to but my parents. So, what? One hand wash the other. Well that is my take on the matter.
by Hypersapien 4 years ago
How should parents deal with lazy, unemployed, still-live-with-Mom-and-Dad adult children?It's one thing if your child loses his job and has to move back home, but how do you deal with one that won't even look for work, thinks you should still provide for all their needs (clean their room, wash...
by Shil1978 5 years ago
How to Say No to a Friend Asking to Borrow Money?
by Linda Crampton 3 years ago
What are the problems and advantages of having adult children living in the family home?If an adult child returns to live with his or her parents in the family home, or if the child never leaves home after growing up, what are some problems and advantages from both the adult child's point of view...
by Grace Marguerite Williams 11 months ago
adult children to grow. They are the type of parents who subconsciously sabotage their children's career chances and advancements. They seem to be deathly afraid to allow their children to establish their own independent lives. They want their adult children to be NEAR...
by dje71 13 months ago
There are a lot of discussions in forums by dads desperately wanting to be "dad" to their estranged children. My take on it is different; I used to be one of those dads.The mother of my daughter and I separated a year after my daughter was born. The mother did everything she could to...
by Omar Jackson 3 years ago
Should you let your friends borrow money?
Copyright © 2018 HubPages Inc. and respective owners. Other product and company names shown may be trademarks of their respective owners. HubPages® is a registered Service Mark of HubPages, Inc. HubPages and Hubbers (authors) may earn revenue on this page based on affiliate relationships and advertisements with partners including Amazon, Google, and others.
|HubPages Device ID||This is used to identify particular browsers or devices when the access the service, and is used for security reasons.|
|Login||This is necessary to sign in to the HubPages Service.|
|HubPages Traffic Pixel||This is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.|
|Remarketing Pixels||We may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.|
|Conversion Tracking Pixels||We may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.|