Family financial advice required

[mickey house]

When ever I have a problem (financial, marital or medical) I immediately turn to my dibb family for advice.

The facts are as follows: My son is in his 20s and when he was born my mum started giving him £50 a month which she paid directly into my bank and she continues to do so until this day.

I am kindly loaning my son money to replace his car at a generous rate of 5% per annum (that was subject to another thread).

Now this is where there is some conflict because my son asked where the £50 a month plus interest was his nan had given to me. I explained that the money was used to buy him toys and also take him to Florida (club seats aren't cheap). My son thinks that me and my wife should have paid for his toys and Florida trips out of our money and not his money as he should have enough to buy a new car with it including the interest.

Is my son being unreasonable?

[Loulou127]

Originally Posted by mickey house

When ever I have a problem (financial, marital or medical) I immediately turn to my dibb family for advice.

The facts are as follows: My son is in his 20s and when he was born my mum started giving him £50 a month which she paid directly into my bank and she continues to do so until this day.

I am kindly loaning my son money to replace his car at a generous rate of 5% per annum (that was subject to another thread).

Now this is where there is some conflict because my son asked where the £50 a month plus interest was his nan had given to me. I explained that the money was used to buy him toys and also take him to Florida (club seats aren't cheap). My son thinks that me and my wife should have paid for his toys and Florida trips out of our money and not his money as he should have enough to buy a new car with it including the interest.

Is my son being unreasonable?

See more...

Sounds like he’s a chip off the old block to me 😂😂😂

[Colette-S]

He is being very very unreasonable. Who fed and clothed him?! Cut him off and wait for the Oprah interview

[mickey house]

Originally Posted by Colette-S

He is being very very unreasonable. Who fed and clothed him?! Cut him off and wait for the Oprah interview

See more...

Thank you for confirming that he's being unreasonable because that's exactly what I told him (I don't think Oprah will be interested though).

[tocpe321]

I think you should charge your Mum a monthly fee for using your time and account for her banking requirements.

Say about £49/ month.

[lizzie145]

No, I think you are wrong here MH for once. What have you actually bought him?

[mickey house]

Originally Posted by lizzie145

No, I think you are wrong here MH for once. What have you actually bought him?

See more...

Lots of things, including laptops, phones, scaletrics, xbox, teddies etc. He went to Florida yearly and that wasn't cheap.

[2point]

Sounds like money laundering to me. I'd be concerned about the company your mum keeps.

[400ixl]

Was the expectation from your DM that you were acting as a trustee to allow your DS to spend that money as he wished, or as a payment to you to use as you saw fit. Sounds like you need to ask her the question.


If you were just a trustee and that money was not spent in the way intended. Just going on the 20 years
£50 x 240 months = £12,000
240 months at 5% interest (no inflation) = £8,000

Looks like you need to buy DS a £20k car in compensation or start negotiating how much of that was spent in the spirit of the payee's intentions.

[mickey house]

Originally Posted by 2point

Sounds like money laundering to me. I'd be concerned about the company your mum keeps.

See more...

Just because my mum holidayed 4 times a year in Colombia there's no need to jump to conclusions!