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Do you tell your parents how much money you make?
- Thread starter YS2003
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Eu here. Though I work in US at least 6 months a year. No I do not tell them, I keep it to myself. If they ask I usually use "I'm doing good" phrase.
when i got my current job two years ago, i called my dad to say "oh my god, they're offering me $XX,000 a year!" it was my first "real" job and i couldn't believe i'd get that high of a starting salary.
they know what i make now...they ask every time i have my review (ok, my mom does) and i have no problem telling them what i will be making after my increase. it's really not that big of a deal.
i have never asked them how much they make, nor do i wish to know. i think they ask me so they can be proud of me or something.
they know what i make now...they ask every time i have my review (ok, my mom does) and i have no problem telling them what i will be making after my increase. it's really not that big of a deal.
i have never asked them how much they make, nor do i wish to know. i think they ask me so they can be proud of me or something.
As a general rule I don't tell anyone how much my wife and I make or how much anything we bought cost. My financial advisor knows but he deals with a lot of our money so it's in our interest for him to know all the details.
I just don't like family and friends knowing anything about our finances other than "we are doing well enough." I think a lot of it comes from my wife and I being from small towns where the cost of living and therefore annual incomes are lower than they are where we live. We don't want to create any situations where family or friends think we should be paying for something because we make $X. It's probably also due to the fact that once someone else knows you have no idea who they are going to tell and with the small town rumor mills it could become public knowledge without even trying.
The only real exception is one cousin who is one month younger than me and we've grown up and known almost all of eachother's dark secrets forever. Since we have never lived in the same town we could always share anything and know that even if the other told their friends it didn't matter.
I just don't like family and friends knowing anything about our finances other than "we are doing well enough." I think a lot of it comes from my wife and I being from small towns where the cost of living and therefore annual incomes are lower than they are where we live. We don't want to create any situations where family or friends think we should be paying for something because we make $X. It's probably also due to the fact that once someone else knows you have no idea who they are going to tell and with the small town rumor mills it could become public knowledge without even trying.
The only real exception is one cousin who is one month younger than me and we've grown up and known almost all of eachother's dark secrets forever. Since we have never lived in the same town we could always share anything and know that even if the other told their friends it didn't matter.
I told my Mom I got a kick*** raise and bonus, but i don't think she knows the total. Between the wife and I, no, I don't tell total incme to anybody. Just generalities. Nobody's business but ours and the bank's.
Am I the only one who's curious why the OP asked the question?
My parents have never asked how much money I make. I suspect that Dad would like to know; he's always been curious about things like that -- how much someone makes, how much they paid for that house or car, etc. My parents have presumably figured out that, based on the size of our current house and things like that, that we're reasonably "comfortable", and I guess that's all they need to know.
My parents have never asked how much money I make. I suspect that Dad would like to know; he's always been curious about things like that -- how much someone makes, how much they paid for that house or car, etc. My parents have presumably figured out that, based on the size of our current house and things like that, that we're reasonably "comfortable", and I guess that's all they need to know.
My dad knows - I work for him.
Me too. Kinda hard to keep it secret when he's your boss. Although, my dad is not the boss, just the boss of our department.
I have worked in the public sector my whole career. My salary is public record. If someone asks, I tell them where they can look it up. People are usually shocked about how little I make for someone with a Masters Degree.
Yah, my parents know what I make. My mother is a branch manager for the bank that holds my mortgage. (I get a lot of good insight on loan and investment products.) But I also know what my parents make (my dad farms - his income is really hit or miss).
Yah, my parents know what I make. My mother is a branch manager for the bank that holds my mortgage. (I get a lot of good insight on loan and investment products.) But I also know what my parents make (my dad farms - his income is really hit or miss).
Nope. But my Dad's not good with money - so I keep my wages under wraps so he doesn't feel justified asking me for a loan...
Hahahahaha, I haven't laughed out loud on MR in a long time, but that post did it.
My mother asked my salary when I joined my current employer about 18 months ago. I wasn't comfortable with answering the question, since I'm doing significantly better than my parents, but I finally answered. So she at least knows a ballpark figure now, modulo the raises and bonuses I've received since then.
My mother (bless her heart) has no clue what I do, other than it has to do with computers. It's not that I don't want her to know, she's just one of those people who fundamentally doesn't understand computers. My dad does stuff with computers (he's a sysadmin), I do stuff with computers, so it must be the same, right? This means that she's confused about the difference between my dad's salary and mine, and even asked outright, 'why would anyone pay you that much?' Thanks, Mom!
My mother (bless her heart) has no clue what I do, other than it has to do with computers. It's not that I don't want her to know, she's just one of those people who fundamentally doesn't understand computers. My dad does stuff with computers (he's a sysadmin), I do stuff with computers, so it must be the same, right? This means that she's confused about the difference between my dad's salary and mine, and even asked outright, 'why would anyone pay you that much?' Thanks, Mom!
I'm in the US and I'll tell my parents and my wife. And I think my older brother has an idea as well, though I don't go out of my way to let him know (nor do I care if he does). I don't tell any of my friends what I earn and don't ask them or know what they make.
My parents are excited/proud of it. They didn't go to college so they look at my salary as evidence that the sacrafices they made to help put me through school were worth it. They were particually excited a few years ago when I surpassed my father's annual earnings that he was making right before he retired. They want their children to be better off than they were, and they tend to view income as a key measure of that. In response, I find myself reminding them that money shouldn't be considered the measure of success or happiness.
My parents are excited/proud of it. They didn't go to college so they look at my salary as evidence that the sacrafices they made to help put me through school were worth it. They were particually excited a few years ago when I surpassed my father's annual earnings that he was making right before he retired. They want their children to be better off than they were, and they tend to view income as a key measure of that. In response, I find myself reminding them that money shouldn't be considered the measure of success or happiness.
My family works on the money pool system.
We all earn money, but we all share our money with those who need more.
Except my Aunt who works for the IRS we don't ask or tell with her
We all earn money, but we all share our money with those who need more.
Except my Aunt who works for the IRS we don't ask or tell with her
can i ask (im NOT being sarcastic for once) how do you determine need? and, if you dont mind me asking, is this a religious thing?
Someone on this thread asked the reason I posted this thread. Other than the simple curiosity how other people are discussing money issues with their parents, I wanted to hear if some people are concerned about the possibility of being asked for a loan from your parents once they know how much you make.
When my mom asked me about my income, she said she is asking because she is concerned if I am going to be self sufficient for my retirement. But, at the same time, I have no idea how much my parents make because they are secretive about it. So, I try to be as vague as possible when she asks me about my income. My folks are not into flashy things and tend to be discreet. So, that would make extra difficult to find out their income level.
When my mom asked me about my income, she said she is asking because she is concerned if I am going to be self sufficient for my retirement. But, at the same time, I have no idea how much my parents make because they are secretive about it. So, I try to be as vague as possible when she asks me about my income. My folks are not into flashy things and tend to be discreet. So, that would make extra difficult to find out their income level.
In my family, it's don't ask, don't tell.
Here's a more prying question: do you tell your wife what your really make?
Here's a more prying question: do you tell your wife what your really make?