Giving back to parents
I am an Asian American eldest child to middle class parents in California. My dad is still working (making around 100k/year) and my mom is a stay at home mom. They are still financially supporting my younger siblings who have yet to go to graduate school. I am in my career and make more than what my dad currently makes, but am also trying to pay back all my student loans.
My husband’s family was more well off, and they do not expect any money or financial assistance; However, my mom is mad that I don’t contribute enough.
My husband and I pay for meals for the whole family every week when we visit, have paid for multiple family trips with flights and meals and hotels (including paying for my younger siblings), skincare treatments, brand name bag, cash for birthdays…All within the past couple of years amounting to tens of thousands of dollars. Yet, it’s still not enough for my mom.
So, I am trying to gather data regarding how much money you spend on your parents/family, especially those of you who are married. Do you gift them things? Do you give them cash? What percentage of your income are you spending? As much as I would love to give the world to my parents, I do not want to be financially irresponsible and set my own future family up for success so my kids never have to worry about finances the way I had to growing up.
Thank you for your time in advance.