DEAR SOMEONE ELSE’S MOM: My daughter and new son-in-law both work fulltime and haven’t started a family yet, although many of their friends who have been married for a few years have. They are talking about starting a family in the next year or two, but they seem to spend a lot of money on unnecessary or unnecessarily expensive things.
Both of them work hard, but neither of them works in a field that promises a big income, and they have admitted they have next to no savings. They also have said that when they do have a family, one of them will stay home to raise their children.
I worry that they are living in a financial fantasyland, and whenever I try to advise them to be more frugal, they say that they may as well spend while they have it, and then will deal with less income when the time comes.
Is this any way to prepare for a future together, and with a family? --- FRUGAL MOM
DEAR FRUGAL MOM: This may be one of those cases where all you can do is what you’ve already done, offer your suggestions. Now it’s time to step back and let them learn from their mistakes — or prove your worries wrong by managing well on their own.