MIL called yesterday concerned about affording fuel this winter for her 4000 sq ft home, which is paid for and has about a $300,000. value. She has done this before..concerned about affording a new car so we gave her $8000.00 to bring her payments where she felt comfortable. I had no problem with this.
After my FIL passed, we learned that they had nearly $350,000. in cash and investments. This was AFTER we gave them the money for the car they were worried about affording. Upon learning their true financial picture, I felt used. My husband did not say too much but I knew he was disappointed because he made the comment that maybe we should send my parents some money. They have never asked us for anything and are living on social security and a small retirement. They have less than $30,000 in the bank for cash and no investments.
I do not want to give her any money. I feel she is using us. I have not made my feelings known to my husband because it is his mother. We are also in a very difficult situation financially because our daughter is attending a private school this year with a very high tuition and we have had to dip into her college fund and some of our retirement to be able to afford it. We are have also made personal sacrifices for her to be able to attend including moving across the country and living apart every other week and maintaining two homes and extra travel expenses.
Would you make your feelings known? Would you feel comfortable giving money to someone who clearly does not need it and clearly has much more money than you do? She is asking for $2500.00. My husband has a hard time saying no to anyone and we are both generous people but if we give her this when she clearly does not need it I feel we are setting ourselves up for giving more and more in the future. We are also nearing retirement age and have a child to put through college yet. What would you do?
Thanks for reading this and giving your comments.
Tags: