“Our Son and Daughter-in-Law Can’t Save for a House Because They Spend Money on Nonsense”

My husband and I always believed in the importance of financial responsibility. We raised our son, Michael, with the principle of “live within your means.” We taught him to budget, save, and prioritize needs over wants. We hoped these lessons would guide him through adulthood, especially when it came to significant financial goals like buying a house.

Michael married Sarah three years ago. They both have decent jobs and earn a combined income that should allow them to save for a down payment on a house within a few years. However, despite their earnings, they seem to be struggling to save any money at all.

Whenever we visit their apartment, we are astounded by the sheer amount of unnecessary items they own. The living room is cluttered with the latest gadgets, from smart home devices to gaming consoles. Their kitchen is stocked with high-end appliances that they rarely use. Even their closets are overflowing with designer clothes and shoes.

We tried to have a conversation with Michael about their spending habits. He assured us that they were managing their finances well and that they had a plan to save for a house. But every time we see them, it seems like they’ve bought something new and extravagant.

One day, I decided to take a closer look at their financial situation. With their permission, I reviewed their bank statements and credit card bills. What I found was alarming. They were spending hundreds of dollars each month on dining out, subscription services, and impulse purchases. Their credit card debt was growing, and they were only making minimum payments.

I sat down with Michael and Sarah to discuss my concerns. I explained that their current spending habits were unsustainable and that they needed to make significant changes if they ever wanted to buy a house. They listened politely but seemed unconvinced.

A few months later, Michael called us in a panic. They had received an eviction notice because they had fallen behind on their rent. They had no savings to fall back on and were at risk of losing their apartment. My husband and I stepped in to help them out financially, but we made it clear that this was a one-time assistance.

Despite this wake-up call, Michael and Sarah’s spending habits didn’t change much. They continued to prioritize short-term pleasures over long-term financial stability. They bought a new car they couldn’t afford, took expensive vacations, and continued to dine out frequently.

As parents, it’s heartbreaking to watch our son struggle financially because of poor choices. We did our best to instill good financial habits in him, but it seems that our efforts were in vain. Michael and Sarah are now further away from owning a home than ever before.

We hope that one day they will realize the importance of financial responsibility and make the necessary changes to achieve their goals. But until then, we can only watch from the sidelines and hope for the best.