Is it Right for My Parents to Scold Me for Buying Things with the Money I Earn?

Dealing with your parents' disapproval can be challenging, especially when it comes to financial decisions. As you transition into adulthood, it's natural to feel anxious about spending your own money. Here, we will explore the dynamics between earning your own income and understanding your parents' concerns, along with practical strategies to navigate these challenges.

Earning Your Own Money

Starting to earn your own income is a significant milestone. It represents a step towards independence, and learning to manage your finances is a crucial skill. As you grow into an adult, you have the right to make your own decisions, including how you spend your money. However, your parents may feel anxious about your spending habits, especially if they perceive you as not prioritizing savings or essential expenses.

Parental Concerns

The scolding from your parents often stems from a place of concern and a desire to protect you. They may fear that you are not managing your finances responsibility. This is understandable, as your parents likely have a wealth of experience and wisdom to share.

Communication

Having an open and honest conversation with your parents is essential. Express your feelings about their scolding and explain how it makes you feel anxious. This can help bridge the gap between you and your parents. Discussing your spending habits can lead to a better mutual understanding.

Budgeting

Creating a budget can help you manage your finances better. Allocate funds for essential expenses, savings, and discretionary spending. Tracking your expenses can give you a clearer picture of where your money is going and help you make more informed decisions.

Learning Experience

Financial decisions are an integral part of growing up. You will inevitably face both successes and mistakes. It's important to learn from these experiences and adjust your spending habits accordingly. While it's okay to spend on things that bring you joy, it's crucial to consider your overall financial health.

Lessons from Personal Experience

I've faced similar challenges in managing my finances, especially since learning from my parents the hard way that money doesn't magically appear. This realisation came from experiencing the consequences of my actions and realising that each pound is the result of my parents' hard work. My mother provides me with a weekly allowance on my Monzo account, sometimes doubling it, but I've often wasted this money on unnecessary items like books and manga, despite the high cost.

When I first received my Monzo card, I made a major mistake by squandering ￡80, which was a significant sum for me. I spent this money on items like manga and CDs that I deemed unnecessary. If I wanted to make a purchase online, such as a study book or a book from a store, I had to inform my parents through WhatsApp and receive their approval. Any item that my parents disapproved of had to be returned.

Recently, my mother took my Monzo card away due to my repeated wasteful spending on study books. However, this time, she blocked my card permanently. This harsh measure shows her deep concern for my future and well-being. Although it may seem harsh, it stems from a desire to do more good than harm.

While your parents may seem like they are scolding you, they are actually trying to guide you towards better financial practices. Their actions are meant to protect you and ensure your financial stability. By understanding and embracing these lessons, you can develop a more responsible approach to managing your finances.