In a recent Reddit post, Annie, a 28-year-old college student, shared her history of balancing financial obligations at home while working and covering the cost of her tuition. She lives with her mother, Erin, 48, and her two younger brothers, but her earnings are stretched thin to help keep their household afloat.
Recently, Annie got a new job with similar pay but a better bonus structure, though she regrets telling her mom, who has since frequently asked for financial support. The most recent request – a $500 bill to repair a wall damaged by the family’s dog – was one Annie couldn’t fulfill.
“I had to borrow from a financial institution and I have a credit card that is maxed out because she asked me for money to fix her car,” Annie wrote.
Annie gave her mom an early deadline for repayment, hoping it would help her balance her payments. Yet, when she reminded her mom of these dates, her younger brother Eliot argued she should be more lenient with their mom.
With rent prices high and tuition prices soaring, Annie feels caught between her commitment to her education and family’s financial needs.
But is Annie really doing herself any favors jeopardizing her financial stability to help her unemployed mom?
As Annie is trying to support her family, she’s putting her own financial future at risk. By maxing out credit cards and taking on loans, she’s putting her ability to manage her own obligations — including the cost of her education — at stake.
According to the Education Data Initiative, the average cost for in-state tuition is $9,750, while out-of-state tuition is an average of $27,457. If you factor in the average balance for student loan debt of $38,787, based on data from Experian, it’s clear that Annie’s situation is financially overwhelming.
Some Redditers, recognizing the long-term implications, encourage Annie to prioritize her future.
“You need to realize one thing: your college tuition and YOUR bills come first. DO NOT TAKE OUT A LOAN FOR YOUR MOTHER. Mom decided to have several kids and she has to support herself because she’s an adult,” ElmLane62 said.
Successfully managing your finances often means helping yourself before you can help others – and it’s not selfish. Taking on high-interest debt for a loved one can set you back years, especially when you’re on a student budget or starting out with an entry-level salary.
About the author
Mission restaurant El Buen Comer wins mole contest
Sign up below to get Mission Local’s free newsletter, a daily digest of news you won’t find elsewhere. As the air cools into autumn, San Francisco also enters the perfect season for mole — a quintessential hearty Mexican sauce that requires a melange of nuts, fruits, chili peppers, and spices such as cumin and cinnamon. A “Moles to Die For” contest drew a crowd of some 60 people to the Mission District on Saturday to taste moles from six chefs who brought their recipes from different regions of Mexico.The contest, organized by the Mission Cultural Center for Latino Arts at 2868 Mission St., marks the finale of the Día de Los Muertos season. Guests spent two hours on Saturday tasting, feasting, and returning to taste and feast again on samples from the six contenders. In the background was Mexican dance music, […]
This 28-year-old is risking her financial future to support her unemployed mom. Is it worth going deeper into debt?
This 28-year-old is risking her financial future to support her unemployed mom. Is it worth going deeper into debt? In a recent Reddit post, Annie, a 28-year-old college student, shared her history of balancing financial obligations at home while working and covering the cost of her tuition. She lives with her mother, Erin, 48, and her two younger brothers, but her earnings are stretched thin to help keep their household afloat. Recently, Annie got a new job with similar pay but a better bonus structure, though she regrets telling her mom, who has since frequently asked for financial support. The most recent request – a $500 bill to repair a wall damaged by the family’s dog – was one Annie couldn’t fulfill. “I had to borrow from a financial institution and I have a credit card that is maxed out […]
Chyanne Chen claims victory in the tight District 11 race
Longtime labor organizer candidate Chyanne Chen has won the tight District 11 race on Sunday, with a slim 190-vote lead over moderate candidate Michael Lai. Chen will succeed termed-out incumbent Ahsha Safaí. “I’m proud and honored to be Supervisor-elect for District 11,” Chen wrote in a statement. “This was a close election, and I am committed to bringing people together to fight for stronger communities, safe neighborhoods and improved services.” “We couldn’t do it alone,” Chen told Mission Local. Chen was bolstered by some $700,000 in outside spending by labor unions and an Asian-American political group, dwarfing the money behind Lai. “This is definitely a victory that belongs to the community. It belongs to everybody.”By 2 p.m. Sunday, Lai conceded on social media, saying he called Chen “to offer her congratulations as the first Asian supervisor for District 11 and offer my help […]
Russian air strikes shake fragile G20 consensus ahead of summit
By Lisandra Paraguassu and Elizabeth PineauRIO DE JANEIRO (Reuters) - A Russian air strike on Ukraine on Sunday shook a fragile consensus among the Group of 20 major economies drafting their joint statement at an annual leaders summit in Rio de Janeiro, three diplomats familiar with the talks told Reuters.European diplomats are now pushing to revisit previously agreed language on the topic of global conflicts after Russia unleashed its largest air strike on Ukraine in almost three months. The United States responded by lifting prior limits on Ukraine's use of U.S.-made weapons to strike deep into Russia.The escalating conflict could upset a hard-fought consensus that G20 negotiators reached around 5 a.m. on Sunday, after an overnight push to ready the joint statement for final review by leaders arriving in Rio.That preliminary consensus after six days of negotiations included streamlined language […]
King of the streets
King of the streets Source: missionlocal.org
Anduril, defense sector will ‘do well’ in new Trump admin.: CEO
Anduril Industries Co-Founder and CEO Brian Schimpf has a conversation with Yahoo Finance's Josh Lipton about the relationship between escalating geopolitical conflicts around the world and the innovations in US defense technology. "Anduril has done well in [the] prior Trump administration. It's done very well in a Biden administration and I think we'll continue to do well in any future administration," Schimpf explains at the annual Yahoo Finance Invest conference. To see every interview from Yahoo Finance Invest, click here. For the full interview with Brian Schimpf, click here. This post was written by Daniel A. Nelson Source: finance.yahoo.com
Related
Russian air strikes shake fragile G20 consensus ahead of summit
By Lisandra Paraguassu and Elizabeth PineauRIO DE JANEIRO (Reuters) - A Russian air strike on Ukraine on Sunday shook a fragile consensus among the Group of 20 major economies drafting their joint statement at an annual leaders summit in Rio de Janeiro, three diplomats familiar with the talks told Reuters.European diplomats are now pushing to revisit previously agreed language on the topic of global conflicts after Russia unleashed its largest air strike on Ukraine in almost three months. The United States responded by lifting prior limits on Ukraine's use of U.S.-made weapons to strike deep into Russia.The escalating conflict could upset a hard-fought consensus that G20 negotiators reached around 5 a.m. on Sunday, after an overnight push to ready the joint statement for final review by leaders arriving in Rio.That preliminary consensus after six days of negotiations included streamlined language […]
Anduril, defense sector will ‘do well’ in new Trump admin.: CEO
Anduril Industries Co-Founder and CEO Brian Schimpf has a conversation with Yahoo Finance's Josh Lipton about the relationship between escalating geopolitical conflicts around the world and the innovations in US defense technology. "Anduril has done well in [the] prior Trump administration. It's done very well in a Biden administration and I think we'll continue to do well in any future administration," Schimpf explains at the annual Yahoo Finance Invest conference. To see every interview from Yahoo Finance Invest, click here. For the full interview with Brian Schimpf, click here. This post was written by Daniel A. Nelson Source: finance.yahoo.com
North Carolina senator’s office allegedly told woman to ‘move to China’ after she expressed concerns over abortion policy
A North Carolina lawmaker is going viral on TikTok after his office allegedly told a female constituent in an email to “move to China” after she raised concerns about the state’s abortion policy.The constituent, who asked to remain anonymous due to concerns for her safety, told NBC News on Saturday that she sent an email to Republican state Sen. Danny Britt on Nov. 7 to say that her family “desperately wants to expand.”“But because of You, [President-elect Donald] Trump and the republican party and the strict abortion laws in this country we cannot,” she wrote in the email, a copy of which was shared with NBC News. “Thanks for ruining our futures! You all are terrible people.”In response, Britt’s legislative assistant Camille McDougald allegedly told the constituent to consider moving to another country.“Thank you so much for the email. I […]
Biden praises cooperation at meeting with South Korean, Japanese leaders amid North Korea worries
Biden praises cooperation at meeting with South Korean, Japanese leaders amid North Korea worries Source: www.yahoo.com
Service dog shot by Jacksonville police officer, owner hurt in Riverside, JSO says
Police say a woman and a service dog are recovering following an officer-involved shooting in Riverside.The Jacksonville Sheriff’s Office said it all stemmed from a dispute between two women.JSO gave an update Friday evening, saying an officer shot a dog that had attacked him.The shooting happened around 2:30 p.m. Friday.JSO Chief Alan Parker says it began when a woman who was the victim of a car burglary came out to the area of College Road between Willow Branch and McDuff avenues to look for a missing bag.Her husband’s car was burglarized and that bag had emotional value to him.She brought along her four-year-old daughter and her dog.[DOWNLOAD: Free Action News Jax app for alerts as news breaks]She is a veteran and the dog is a German Shepherd that she had received through Wounded Warrior Project for PTSD.JSO said another lady on […]
More Russians denounce each other over Ukraine, in echo of Soviet era
By Mark TrevelyanLONDON (Reuters) - On the last day of January, a woman took her son to see paediatrician Nadezhda Buyanova at Polyclinic No. 140 in northwest Moscow. The boy, aged seven, had a problem with one of his eyes.The conversation that the boy's mother alleged took place during an 18-minute encounter at the clinic would change both women's lives and land the 68-year-old doctor in prison.The case hinged on a denunciation - part of a rising trend of Russians informing on fellow citizens for their views on the war in Ukraine and other alleged political crimes. Critics say the wave of denunciations is helping President Vladimir Putin's government crack down on dissent.In a video recorded as she was walking away from the clinic, the mother, Anastasia Akinshina, said she had told the doctor the boy was traumatised because his […]
Be the first to leave a comment