Money Confession: Children’s Savings

I recently spoke at an event and asked the 100 or so people in attendance to anonymously write down a money confession. Over the next couple of weeks, I will be posting some of the more powerful of those confessions:

Broken Piggy Bank
“I took all of my children’s savings to help pay for my face-lift”

Photo by :: The Dots ::

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6 Responses to Money Confession: Children’s Savings

  1. dan says:

    I think this is one of the worst things parents can do to their kids. My parents did a similar thing to me and I’m still bitter about it. And what type of example are they setting for their own kids?

  2. Heidi says:

    If the money was saved by the parents, their children had no right to be angry. Disappointed? Maybe.

  3. Anna says:

    Ditto what Dan said. Guess I’m not the only one this has happened to!

    I gave all of the money I earned at my high school part-time job to my parents to put in my savings account because that was how we’d been doing things (with birthday money, etc.) my whole life. I always trusted that they would give me access to the account when I needed it. Then when college came around, they wouldn’t give me any of my money, which I had been saving specifically for that purpose. So I had to work up to three jobs at a time during college, when the whole reason I worked so much during high school and saved almost all of my money was so I could focus on academics in college and not have to work. They wouldn’t even give it to me so I could buy a car (which would have allowed me to get a higher quality or better paying job off campus).

    They eventually gave me (most of) the money years later, but I’m still pissed–especially because they just gave a nice newish car to my brother, who has never had a job, because it would be oh so hard for him to get groceries for his apartment now that he lives off campus. Please! Nevermind that I took the bus, got rides from people, biked, or walked a couple miles to get everything I needed for years, regardless of how sweltering hot or freezing cold it was outside or how far I lived from a grocery store.

    On the plus side, having learned to rely almost exclusively on myself for everything, I’m much more independent than most people I know, I’m great at finding jobs and managing my time, and I realize that a car is a luxury, not a necessity. Not that my parents were trying to teach me any of those lessons–they were just being jerks.

  4. kenny says:

    What makes it even worse is that it was for something as egotistical as a face-lift. If it were to put food on the table, that is one thing, but a face-lift?

  5. Confessions like this help me feel SO much better about myself. Ahhhhh…..

  6. Pingback: Money Confession - Unaffordable - SavingAdvice.com Blog

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