Foolish children decided to play at independence and ended up in debt, without a home of their own.
When our children married, both sets of parents agreed to help them with a place to live. My husband and I had set aside some savings, and so had our in-laws. By putting our money together, we had just enough for a modest flat. We wished to buy the place outright for them straightaway, but they insisted on handling the purchase themselves, claiming they were independent and would manage on their own.
Some time later, we learned that they had indeed bought a flat but it was a three-bedroom, far larger than they truly needed. How had they managed that? Theyd taken out a loan from the bank to cover the cost. And who would shoulder the repayments? They assured us it was well within their means.
Next, it emerged that they wanted a car. Naturally, the flat theyd chosen was a fair distance from work, and taking the bus every day was a bother. So, they bought a car a brand-new one, straight from the dealer, again on finance. We suggested a second-hand motor might be the wiser choice, but once more, they brushed us off, wanting to do things their own way, sure of their independence and self-sufficiency.
Then came the wish for a child preferably to have the baby abroad so as to secure foreign citizenship for the youngster. To pay for the birth and first-rate care, they took out yet another loan, determined to do things in what they saw as the best way possible.
Our granddaughter was born. Not long after, they decided the nursery needed a fresh look and borrowed even more for renovations. When we asked, But who will pay for all this? they replied, We will, of course! Were independent.
But fate took a turn my son-in-law lost his position at work, and my daughter was at home on maternity leave. The money soon vanished. How could they possibly keep up with all those repayments? They pleaded with us to sell our little cottage in the countryside to tide them over. We didnt want to, but we had no choice if we were to prevent them from defaulting. Sadly, even that was not enough.
In the end, they were forced to sell the flat, and, eventually, the car. Now, they live with our in-laws. They lament that they have nothing of their own. But what did they expect, having ignored our advice? The loans are not yet cleared; it will be a few more years before theyre free of debt. All that remains is sorrow and regret.
