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emw

macrumors G4
Original poster
Aug 2, 2004
11,172
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Parents raid children's piggy banks
From: AAP
By Sonya Neufeld

June 21, 2006

MORE than a quarter of Australian parents pinch or have been tempted to "borrow" money from their children's piggy banks, research shows.

The Newspoll study on family attitudes to money surveyed 369 parents or guardians with children aged 17 or under living at home.

It found that almost nine in 10 parents believed they set a good example for their children when it came to managing money.

But it also revealed that over a quarter of parents surveyed had taken money or thought about "borrowing" it from their kids' savings.

Link
 
Well consider me one of the nine! My parents always borrowed money from my little cash stash. It was done mostly when they couldn't be bothered going to an ATM but needed cash for something. I didn't mind because they always payed it back and I made sure they were charged interest. :p They don't really do it know though because I'm not living at home all the time and my money is in an account which they can't touch.

I'll be very surprised if this doesn't happen in other countries as well.
 
I'd have to agree that this is not isolated to Aussies. There's got to be people all over the world that borrow from their kids in some form or other. I can't say that my parents ever did, but I'd imagine that other parents of friends have.
 
I have to admit I borrowed $5 from my kid's stash to pay for girl scout cookies (wife had the checkbook). I paid them back, though. :eek:
 
Just we wary when they grow and wise up. They'll become devious and extort money just like I did. :p

Parent: "Can I borrow $20 please?"
Child (more specifically teenager): "Sure, no worries."

A week later...

Parent: "Hey how much do I owe you from the other week?"
Child: "$30"

:D
 
Actually, this all reminds me that this morning, my daughter gave me a quarter when I left for work - "just in case you need it."

Of course, she then told me I need to give it back to her when I get home...

jsw said:
I just never give the kids the money in the first place. ;)
You think it's your wife that's pilfering cash out of your wallet? Oh wait, all of your cash is at the Apple Store. Never mind.
 
emw said:
You think it's your wife that's pilfering cash out of your wallet? Oh wait, all of your cash is at the Apple Store. Never mind.
Oh, I ran out of cash a long time ago. As each credit card is maxed out at the Apple Store, though, I ask for a little bag for it and give it to the kids. They love going to the Apple Store.
 
max_altitude said:
Just we wary when they grow and wise up. They'll become devious and extort money just like I did. :p

Parent: "Can I borrow $20 please?"
Child (more specifically teenager): "Sure, no worries."

A week later...

Parent: "Hey how much do I owe you from the other week?"
Child: "$30"

:D

Yessss!

But my parents never touch my cash (well, they emptied my account before Hurricane Rita! :mad: ) but I have a new account now. Neener neener.

My brother is the one that is always taking my spare change.
I empty my pockets every night, pennies into the green pig, quarters, nickels, dimes, into the silver pig. I walk into my bedroom one night and he's there, digging around my silver pig.
Not the first time it's happened.
And I'm pretty sure it's for cigarette money.

I also had $1000 in $20s on my desk for a while, before I was switching banks. (It wasn't in because it was a graduation gift) I really hope he didn't pilfer any...
But when I deposited it, about $500 was gone.. and I really don't remember spending $500. Yeah, I went to IKEA and got a chair and a bookshelf, and then I spent some on manicure supplies and the like.. but not $500.
I'm not saying it's possible for me to spend $500 and not notice, but... I'd have to be REAL oblivious.
 
max_altitude said:
Just we wary when they grow and wise up. They'll become devious and extort money just like I did. :p

Parent: "Can I borrow $20 please?"
Child (more specifically teenager): "Sure, no worries."

A week later...

Parent: "Hey how much do I owe you from the other week?"
Child: "$30"

:D

I admit I do this to my parents. :)
 
Tanglewood said:
Growing up most of my meager savings consisted of IOUs from my parents.

I hear ya...me too. Every time I got a decent savings built up, bam!
 
My parents would occasionally borrow against my college savings. But my mom, being an accountant, would look at the lending and savings rates at the banks and set an APR in the middle. They were saving money and I was making more then I could by leaving it in the bank.
 
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