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Could anyone give me some advice on a sticky family financial situation? Really dk what to do?
Hi, I secured a position to do a Masters Degree on Scholarship. However, my parents are not supportive as they feel there is an opportunity cost where I could be working and give them money. It has reached the extent they are calculative about my scholarship allowance ($1,000 per month) and demanded a portion of it. I work part time now, monthly pay of $500 (After CPF), and I am forced to give 50% of it to my parents. My parents are working currently, and earn $4,000/month.
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Yikes that is a sticky family situation indeed.
How much did you give them previously? IMO it would be a same amount, regardless of what you are doing. Are they demanding even a portion of scholarship allowance because it is really required to cover household expenses, or they want it for filial piety reasons?
If it is the former, then perhaps you all can sit down and work out the contributions required.
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I believe most Asian parents still hold orthodox beliefs and sometimes think that we millennials are too blinded by the term "passion" that we forget that we need to survive and we need to earn in order to survive...but definitely try to discuss with them the financial pressure to pay them back at this stage where you're still not financially stable.
But...If the discussion is heading south,know that your Masters scholarship came from your hard work and efforts, while you have to be respectful of your parents, always, but you count too! Since your parents are not paying for your further education you should grab this opportunity to pursue your dreams!
Quitting Masters now so that your parent can stop giving you a hard time is not very wise, so do try to talk to your parents, convince them about your dreams and let them know about the money issue, I am sure they will understand! :)