 The average 22 year old person should have how much money saved up? |
| im 22 years old, living at home, in college and recently fired from my job ( which i loved), i'm curious to know what's the average saving amount for someone in my position or really ... |
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 How can I become a millionaire or thousandaire within seven months? |
Or even just have 6000.00 dollars in my account?
I don't mind what type of work I do but I don't want to do anything dealing with sex or stealing but am open to any type of work that ... |
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 How do you get power of attorney? |
| my aunt has died and my uncle is in no fit state to organize the funeral. things have got to be paid for and i,m the nearest relation, there is no exacutive named in the will any help. ... |
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 Do you live paycheck to paycheck? |
| Seems like an ever growing number. Are you one of the many??... |
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 I need $200 fast!? |
| I am going to Aruba on July 8 and the plane ride is kinda long and i plan on listening to music, except that I lost my i-pod shuffle. Since i can't find it I need $200 dolars so i can buy the ... |
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 I have some money what to do with it? |
| I dont want to spend it, instead I want to invest it in something to produce more money. any suggestions?... |
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 What salary range would you consider 'middle class'? 'upper middle class'? |
| re-posted from a different category to hopefully attract some more answerers.... |
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 How can I get out of debt without filing bankruptcy? |
| behind on everything. husband just got back to work. feel like I'm drowning in debt. Just looking for help. Thanks.... |
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 Quick,easy money? |
| how could i get quick, easy, money?... |
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 How are you dealing with the high rise in gas and food prices lately? |
| Prices have gone up an insane amount in the last month or so. I'm starting to get a little worried on how we, as a community, will be able to survive. Essential items are becoming SO expensive.... |
|
 A question for Americans....? |
| How much is minimum wage in the state your in? Please give state also. I thought it would be nice to compare. Thanks.... |
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 Is it safe to shred the receipt they give you back when you pay with a debit card? |
| I was just curious, is it safer to shred or can you just crumple it up and throw it away?... |
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Natalie M | Is it ok to ask family for money towards a downpayment for a first home? |
Or is that taboo? My husband and I didn't really have a wedding, so there was no money spent there. We are hoping to get our first home in the near future and don't have the 20% that s typical of a downpayment.
I don't normally ask people for money, but in this type of situation is it acceptable? |
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Vic
 |
Yes, most parents would gladly help out newly-wed children buy their first home, if they can. |
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Nick Z
 |
If you are poor and needy, then it's ok to ask your family for help to satisfy your basic needs. Or if your relatives are extremely rich compared to you. Then it may be ok to ask for their help even for things that you can do without.
But if you can rent an apartment or buy a cheap condo, instead of buying a full house. Then asking for money from relatives who are not much better off than you are is not such a good idea. Whether they say 'yes or 'no', your request will probably strain your relationship with them. |
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tonalc1
|
Not only acceptable, but recommended. |
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crapaudblanc
 |
Isn't it what parents are for? Unless you have bad relationship whith your parent, you can ask them to help you out. They can even combine this with an estate planning donation ($25K non taxable per year to each children and grand children). It's never too early to discuss estate planning with your family (including medical will, power of attorrney ,..etc). |
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Her Royal Juicyness
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I don't really think so...at least I wouldn't feel comfortable asking anyone (including family) for money. |
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Baccheus
 |
Yes. Lots of people do that.
First check what options are available. You might not need 20%. The less you need, the easier it will be for parents to help. If you are close to your parents, they have enough money, and you have not been an ungrateful spender (and you sound rather frugal), your parents will be glad to help. They don't want you to be a freeloader, but they want you to get a good start. |
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jpda_alpha
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Absolutely! Depending on the mortgage program you qualify for you may be able to give 3 or 5% downpayment. 20% is the preferred down payment amount so you don't have points attached to the mortgage. Lenders will accept gifts as part of the downpayment. Talk to the institution that is giving you the mortgage and find out extactly what the requirements for the down payment are. |
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Steve R
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I did. I set out the payment terms and when I paid them back. |
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Hex the Fundies (JPAA)
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You know your family better than I do my dear. Ours offered it to us, we didn't have to ask. Can they afford to do it, that's the thing. It's rather an imposition if they're "short". And some people hide that.............. |
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savymommy
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now by your family do you mean your parents if yes then i think its fine also i think you should be young (under 30) if your still asking mom and dad for money but i'm 23 and we got some help from my parents buying our first home |
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Steve G
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I think that it happens a lot, and there's no harm in asking. It might be nice to offer to put them on title, and whatever else you do, make arrangements to repay the loan. Even if it's between family members, have a written legal binding contract (you don't want to wind up on the Judge Judy show). |
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International Scotsman
 |
Obviously it depends on the other family members and their financial situation but certainly you should ask, after all the worst they can say is no.
My wife and I have just had to help our youngest and his family with their first house, they are treating it as a loan, but we are telling them it is better to have it now, rather than wait until we pass on, and risk the government taking a large slice.
I have some other ideas which might be of interest to you but I cannot go into them here, so if you wish email me, my email address can be found by clicking on my avatar, and I will give you some more information. |
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Jahoo
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its totaly not taboo in any way your a young couple and all young couples usualy need money espetaly nelyweds |
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19th Nervous Breakdown
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I think so. Just make the proper arrangements to pay back your family. Also keep your finances in good order. You don't want to end up in debt over your head. |
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