Financial predicament

I’m not sure exactly what is going on lately but it seems like there are a lot of people are in some kind of financial trouble. I know of a few people who can’t seem to hang on to their money. I’m not sure what they’re spending it on but whatever it is, it’s burning a big whole in their pockets. I try and help them by giving them financial advice but some of them don’t take it. In the end, they get stuck in debt and have no money to get out.

I understand that the price of living has gone up a bit but it’s not that big of an increase. I went from living with my parents at home and paying no rent to living with my girlfriend and paying mortgage. That’s a big change for me but I was able to handle it. I have my finances in order and I keep track of my monthly budget. It’s not that hard to handle money and making sure that you have enough at the end of the day. I can spend a little here and a little there but I know when I have to save.

Every month I save $400 by depositing it into my RRSP. This money is locked away until my retirement. If I try to take it out, I’ll be penalized and the money that I withdraw will be taxed. I don’t want the government to get any more of my money. They’ve taken enough already from my pay cheque. The rest of my pay cheque goes towards mortgage and helping out my parents.

I have to help them out a lot more this month since they’re having problems. My dad has been ill and hasn’t gone to work for a while now. His savings is slowly depleting and he had to resort to withdrawing month from his retirement fund. Had I known about this before, I would have helped them out in a big way. He has too much pride to ask me directly. This is a trait that he probably passed on to me. I don’t like asking people from financial assistant either. He doesn’t have to ask me since I’ll be helping out on my own according.

I’ve been giving money to my mom every other week and I hoped that it was enough to cover groceries but it seems like it’s not. I’ve taken over the hydro bill as well but they’re still struggling. My dad has done a lot in my life to ensure that there was a roof over my head. Now it’s my turn to pay them back and show my appreciation for all the things they’ve done for me. Without them, I wouldn’t be in the position that I’m in today. To show my gratitude, I plan on handling their mortgage until my dad is well enough to work. He’s hoping to be back at work in September but he needs the doctor to say that it’s okay for him to return to work.

My two directly younger brothers are working but I don’t know where their money is going. Everything that they make is going straight out of their bank accounts. They’re not saving anything and just wasting their money. It doesn’t seem like they’re willing to sacrifice their leisure time to help out around the house. Don’t get me wrong, it’s good that they have a job and everything but there are other responsibilities that they need to take on. My father is ill, my mom doesn’t work and no income is flowing into the household. The income that is coming in, is going straight out.

From what my parents tell me, they have enough money saved up to help them pay for two month’s worth of mortgage. But with my help, everything should be fine. They can keep their savings while I handle most of the high end bills. I don’t do much with my money other than saving it. My brothers aren’t realizing it yet but they could be homeless if they don’t get their heads on straight. I don’t want my parents to resort to borrowing money from their friends to pay for their expenses while they have two other sons in the house who are capable of helping them out financially. The only downside is that they’re too busy partying and going out to realize what’s going on at home. I’m hardly at home so I don’t know much about what’s wrong but when I went back to visit yesterday, I’m hit with this wave of bad news.

The news was so bad that I had to hold back my tears from coming out. My dad has done everything in his power to ensure that our family is taken care of. He tried to help out when he can but back then, none of us were listening to him. He told me that he was ashamed that he couldn’t help me with college. He wanted to but the bills were too high. He wanted to be there for all of us but under the circumstances, he wasn’t able to help us all. Compared to the live that I’ve lived, his childhood was harsher. He struggled to make sure that his mom had a bag of rice in the house.

Last night was probably the longest that my father and I had talked. Usually, we’re just making small talk about computers and cars. But yesterday, he and I had a father and son conversation. I don’t think I’ve ever had that before since I was always cooped up in my room, playing on the computer. I realized now that I should have talked to my father more often but he told me that I turned out well. Thanks to my parents, I have my head on straight and I’m walking the right path in life. They’ve taken care of me when I was younger so now, it’s my turn to take care of them.