Setting financial boundaries with my parents
I’m a 23M, graduated in 2024. My first job paid exactly 80k/month. Out of that, my parents used to ask me for 50k every month, and I kept sending it for more than a year. In total, I’ve given them around 7 lakhs.
A year later, I switched companies and now earn around 1.6L/month. My parents know about my new salary. Since switching jobs, I haven’t sent them any money.
For context:
My father earns around 60k/month.
They own a house in a tier-2 city.
There’s an EMI of around 30k/month.
My elder sister (MBA graduate) is currently interning in Bangalore and is almost guaranteed a PPO of around 15 LPA starting next year.
Two months ago, my parents asked me for 5 lakhs and emotionally blackmailed me when I refused. They said the money was for my sister’s marriage, but I’m 100% sure her marriage is at least 2 years away. Also, by then, she’ll likely be financially independent and capable of handling her own expenses.
Today, my parents came to Bangalore and are currently staying at my flat while I’m at the office. I know this money topic is going to come up again tonight, and honestly, I have no idea how to handle it.
How did you handle this situation if you have ever faced before?
How do I deal with this situation without destroying the relationship, while also setting boundaries?
Edit: My parents did not pay for my college.
I have an education loan of 12 lakhs behind my back for which I am also paying emi’s