I give my parents 20% of my salary (>$700) ever since I started working two years ago, and 20% of any bonuses when I get them too.
I learnt that I give the highest percentage amongst my friends, but I’m okay with that as I can afford to and somehow this 20% proportion has been ingrained in my mind since young.
Recently, my partner and I secured a BTO. Somehow, this got me to start thinking about finances seriously. I feel that I should save more for future uses such as the wedding, honeymoon, house, renovation and any emergency spending.
I’m not engaged yet, but just generally thinking about the future and making a mental note that I have to start being more financially savvy now that we have a home (yay!).
I innocently shared this with my mum but she got angry instead and started ranting that kids nowadays only care about planning for their own future and kicking their parents aside.
I clarified that I have no intention to change or withdraw the 20% of my salary that I have been providing. I only wanted to save a higher proportion of the remaining amount after setting aside the monthly allowance.
However, she insisted that I have become stingy ever since getting together with my partner and that I only cared about my own future.
Honestly, I feel quite angry at her accusations as I have not once given anything lesser than 20% of whatever I have. She also commented that I could rely on my partner and need not plan to save so much, which I do not agree with.
We should aim towards being able to support ourselves regardless of whether we have someone to rely on, isn’t it? I really don’t know what’s wrong with children planning for their future as the point of planning ahead is to avoid having to take parents’ money for our own expenses next time.
Furthermore, I am still giving the 20% without any intention to stop, and I don’t know why she’s so defensive every time I talk about my own financial planning. Sigh.
Just wanted to get this off my chest. Thank you for hearing me out.