Salary and our parents

My mom has a pretty detailed picture of how much money I make and how much money I save each month. She knows that I’m maxing out my 401(k) and my Roth IRA, saving for a down payment and a car replacement, and investing other money for the long-term.

On the other hand, my mom has recommend to me that I don’t tell my dad how much money I’m making. He has a rough idea. He knew how much I started at and how much of a raise I got this year, but my mom has highly recommended to me that he doesn’t need to know the exact dollar amount that I will gross over the course of this year.

This feels a bit weird to me to specifically not tell my dad how much money I make. I don’t care if he knows, but I’m going to take my mom’s recommendation since she clearly knows him better than I do.

Do your parents know the details of how much money you make or save?

8 thoughts on “Salary and our parents

    • I have no idea! I’ve been wracking my brain over that since she made that comment.

      My parents have their own money and have no need for mine. My only guess would be that he could try to get me to pay them back for the cost of my university education.

      Another theory is that he could think they should keep supporting my sister for longer because I make so much money, which my mom doesn’t approve of.

      Can you think of any other theories?

  1. My parents have known, but I believe they purposefully forget. It does annoy me that they occasionally forget that my little sister makes more money than I do now and thus I should no longer be the one paying for *all* meals out when they visit. My sister has been getting better about this.

    • That would annoy me too! My sister doesn’t make very much money yet, so my parents still tend to pay for all of us when we got out for food.

  2. My parents don’t know how much I make. However, at any given time, I will more than likely be half across the world away from them. They do know what I plan to do with my money though.

    • That’s understandable then, Tvo! One of the reasons why I am reasonably open with my mom about my finances is because with her life experience, I figure that she can offer sound advice towards my finances. I hope that your parents provide you with (mostly) good advice as well!

  3. I wonder what her reasoning is. I take it they are still married?

    I’d happily tell my parents but they’ve never asked and I haven’t volunteered.

    I would never tell T’s family, partly because I know they don’t bring in much money, and also, we get enough requests to lend out cash as it is.

    • Yup, they’re happily married. I guess I didn’t make that clear enough! I understand your reasoning to not tell T’s family, but I don’t have that problem with my dad, which is why my mom’s suggestion confuses me so much.

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