How much allowance should be given to parents?
My mum has been asking me to increase her allowance along w my increments in pay/bonus/AWS etc since I’ve more “working experiences” hence higher pay she should get more too. However I personally think that it is not that reasonable as I have more bills to pay for and my personal expenses do increase as well as I grew older
A little context about my fam, I’m from a low income fam (only child) and back when I was schooling my fam was under the financial assistance scheme aka SAF and my dad is working in a factory w $2k/mth before CPF deductions and my mum is a housewife, and we hv a dog in the fam too!
I’m currently 23 right now, drawing a salary of $3.5k/mth. I used to work another part time job which brings me about $1.5-2k extra back then, so a total of close to $6k/mth before deductions. I have personal goals to achieve in life in terms of monetary, where I’m looking to own a car and being financially ready to purchase a flat by 30 yrs old, and I’m diligently saving money and doing consistent investment with an insurance plan as well.
Back then i was giving her $550/mth when working 2 jobs but she felt it was very less. She compared me to my cousins saying that they’re giving more than $500 w a $4-5k/mth salary while I’m earning more than them.
She asked me to give her more but I really couldn’t afford it. I have many bills under me. I spend about $100-250/mth on transport, $700/mth (investment/savings under insurance), $300/mth on loan, $800-$1k/mth on personal expenses, $550/mth allowance for my mum, remaining will be savings in my bank as I’m saving up for my Uni cost which cost about a total of $30-$35k.
My mum claims that it’s overboard that I’m saving $2k/mth but that’s because I do not want to drag too long for my Uni education. In fact with $2k/mth it takes about 3 full years of working time to accumulate the full sum. I’m thinking about saving up full sum before going to part time Uni while working full time as my house is still under bank loan of about $250k. By then when my dad retires it should left about $150k and I’ll be the one that starts to pay w about $1/k mth in cash.
Now, I’m no longer working 2 jobs as I can no longer cope with it and now I’m getting $3.5k/mth before deductions, and I’m giving my mum $350/mth and she became more upset about it. I cut down only on my personal expenses to about $600-$800/mth and amount of money I save in my bank/mth (saving about $900+/mth) while the rest remain the same.
I could not reason out with her as she is always comparing and says that I’m too stingy with her when it comes to money but she does not understand that I have my financial goals to achieve too. She thinks that I should give more because they’ve been feeding me and raising me, and she claims that no amount of allowance can give back to what she had done as a mother.
Hope you guys can give some advise thank you