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i hope she realises just how big of a gift it was...

March 2nd, 2010 at 02:27 am

I helped DF lay a floor for his little cousin K on the weekend, and we earnt some extra moolah. I am not sure exactly how much yet as DF hasn't worked out the cost. Because it is his cousin he is doing it cheaply, but I would say it would be around a days normal wages atleast.

It is very exciting for K (his cousin). She is only 19 and has just bought a unit for herself. Well, technically the deposit came from her parents who have been putting money aside since she was born. It was to be used for whatever she wished (responsibly) when she turned 21, but they decided to give it to her early. I think that it was originally going to be for university, but I remember she did start uni last year and quit after 2 weeks, because she hated it. Just isn't for some people, I can understand that. But she has a good job on a contract at the moment, and hopefully things go well for her when that ends. She has done several career enhancing courses during her contract too.

Her dad, I think, was slightly against the idea for several reasons. Of course he was happy for her, and he did GIVE her the money after all. But I can tell he's hesitant. First of all, the money was meant to be for her a little later. Secondly, she has never lived out of home before, and never rented. He said he KNOWS she will get a shock about the cost of things, and all the unexpected things that crop up requiring her hard earned money. DF and I nodded profusely at that one! And lastly, she IS only 19, she still likes to party, and he is worried she might not be as mature as she thinks she is. All very legitimate reasons to be hesitant.

But there are two sides to a marriage and while his wife was aware of the risks too, she was a bit more optimistic. And it's true, why would you pay rent if you didn't have to? It's dead money. As dead as dead can be. And who here would have leapt at a chance like this, if you had been given it? I definately would have. I tried my best anyway - I knew if I had been given $60k from MY parents I would have used it exactly the same way - but instead DF and I saved $20k of our own money, was given $14k from the government, paid mortgage insurance, and we bought a house anyway, when I was 21 and DF was 28.

I guess the question is whether or not the gift will be utilised appropriately. *sigh*
Do you ever get that feeling, when you look at someone who may have no financial worries - or atleast a very appealing wage, and think "I could use that money so much more wisely" ??? Why does it always seem that (some) people with money are so stupid, and others who don't have it, could really make so much more out of it, if they were just given the chance?

Well, I hope it doesn't end up like that for K. I hope she realises just how much her parents are giving her. They're not just giving her $60k. They're giving her one almighty hand up in life. They're giving her a base, security, and a headstart. Something that so many people take SO much longer to achieve, she has been able to do with hardly any effort of her own. Sure, her parents have put in a lot of effort, a LOT, and I just hope she appreciates that.


So....Thoughts?

1 Responses to “i hope she realises just how big of a gift it was...”

  1. ceejay74 Says:

    She will appreciate it, if not now then eventually. Smile It really is the biggest gift you can get, with a paid-for college education a close second. NT's net worth is way more than mine or AS's (hers is still in the negative, in fact), and the main reason is that his parents saved money for him to put a down payment on a place when he was very young. No matter how crazy the housing market gets, buying when you're 20 or 21 you know your asset is going to appreciate eventually, and even if it's a starter home you could sell it to have a more substantial down payment on a better place, or (in the case of NT) make a nice profit from renting it out.

    If she doesn't realize what a leg up she's been given, once she's older and her friends are struggling to buy their first place she'll understand.

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