A few weeks back we began easing into the topic of discussing money with your family. Well, this week we're jumping straight into the most taboo, not-talked-about money topic out there. Money & Parents.
Btw, before we begin, we want to acknowledge that no one chooses the family they have. Thus, we're going to treat this topic as cautiously as we can. Please remember that these are averages of our user base, and in no way a comment on how families should function.
Okay, let's do it!
You know we have strong opinions on sharing your income with your significant other or close friends. But we don't have one when it comes to parents. (It really truly depends. I know!!! The worst possible answer.)
But the reason why Frich makes sense and works is because we're experiencing a generation shift in attitudes around money. That means we can't really force other generations to bend to our ways. But we can always encourage :)
So here's what Frichies said about their parents - 47% said their parents have told them exactly how much they make (honestly, we're pleasantly surprised!), 37% know approximately, and 16% have no idea how much their parents make.
This one's completely on you! If you want to know how your parents are doing, you should lead with how you're doing to encourage them to an open conversation.
Here's what you said - 68% have told their parents how much you make, and 32% haven't.
This obviously depends on how your family is doing financially. We won't comment on the results, but here's your chance to take a sneak peek to see if your peers' lifestyles are sponsored by free "loans" from their parents.
41% think it's ok as long as it's a small amount (debatable what counts as a small amount👀), 24% think you should always pay back, and 35% said it's ok to ask to pay back later if it's an emergency situation.
We'll be back with Part 2 of this series next week! In the meantime, remember that being able to relay on your family is a privilege so don't take your parents for granted and maybe call them today🥰
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