He Doesn’t Want To Give His Younger Daughter’s Future Wedding Fund To His Older Daughter For Her House Deposit Because His Oldest Lives Above Her Means And Doesn’t Manage Money Well
This 59-year-old man and his wife, 53, have two daughters named Rose, 27, and Lily, 24.
Both of their daughters have similar salaries, and they both have been financially successful in their careers, especially for how young they are.
Rose and her husband have a two-year-old daughter named Poppy, and Rose’s husband earns a significantly lower income than she does.
On the other hand, Lily’s boyfriend makes a little more than her.
Rose and Lily inherited a significant amount of money from his mother.
Their inheritance money would be enough for them to put a 10% to 15% deposit down on a home that was without their families’ budgets.
“Rose has always lived beyond her means, and certainly her husband’s. They’ve alluded to using some of their house savings when Poppy was born,” he said.
This seemed a little strange, considering the fact that his wife took care of Poppy while Rose continued working full-time hours, which helped them save on daycare costs.
Eventually, Rose’s husband divulged that he hadn’t been able to save any money throughout the decade that he and Rose have been together.
Photo 194818517 © Adelaideadel – Dreamstime.com – illustrative purposes only, not the actual person
“On the other hand, Lily and her boyfriend have almost doubled the original amount saved and never seem to have any issues with money, whilst we constantly seem to be helping out Rose,” he explained.
“Both girls are looking at buying houses. Lily and her boyfriend have been approved for a lovely house with a 25% deposit.”
An offer that Rose and her husband put in on a house was also accepted.
However, when they did the math, they realized that the costs related to commuting and sending Poppy to daycare because they would be moving further away equated to the cost of what their mortgage would be.
Their mortgage payment also wouldn’t be what they’d been hoping for, and they could only afford to put a 5% deposit down on the house.
Rose informed Lily of all of this, and she questioned her about how she and her boyfriend had their offer approved on a larger house when they were a younger couple because it surprised her.
In response, Lily broke down her and her boyfriend’s combined income, as well as how much their deposit was.
“Rose broke down a little. She asked how much we had given Lily, and we told her nothing extra. That night, my wife and I were talking, and she said she didn’t realize how badly Rose was financially and how well Lily was doing,” he shared.
He and his wife paid for Rose and her husband’s wedding, and they already extended the same offer to Lily and her boyfriend, but she rejected their offer, telling them that she didn’t need or want their money.
Even though Lily hasn’t accepted their offer to fund her future wedding, he wants to keep this money set aside just in case she one day changes her mind.
But his wife told him that she thinks they should give this money to Rose instead.
According to his wife, Rose and her husband are financially struggling because they have a child, and she added that it wouldn’t make sense to hold onto this money when Rose’s family, including their only grandchild, is at risk of being homeless.
What advice would you give him?
You can read the original post on Reddit here.
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