Do You Borrow From The Kid’s Piggy Bank When You Are Short On Cash?
Ok, I know times are hard in this severely distressed economy, but I certainly hope you have never stooped to this level. Maybe we are all guilty of this, but hopefully we have the scruples to repay the debt, but a recent survey shows that five out of six parents have “borrowed” from their kids savings.
Nearly half of us have done this. Shame shame shame. Another 34% indicated that they had broken into the piggy bank when they were a little light on cash. Mostly parents have spent the money on bills, vacations, gifts, and medical expenses.
This survey didn’t indicate how many of the parents actually paid their children back, however, at least half of the parents who admitted to taking money from their kids, didn’t feel guilty about it, so let’s hope that they indeed did pay it back.
Have you ever done this? Maybe you were a little short on cash and you didn’t feel like making a trip to the ATM. Hmmm. I have to say that I have done it before, but I do pay it back…usually with interest.