Parents just don’t seem to understand that I can handle my financial responsibilities while putting myself through college.
A bit of context: I attend a private school near my hometown because of its specialized programs in my field. I always knew I’d have to be financially independent while in college, but with a combination of scholarships and loans, I felt prepared. Currently, I’m paying off my loans while studying, which takes up about $450 of the $650 I earn each month, not to mention my phone bill and monthly food expenses.
Originally, I received an old 1999 Lumina from my grandpa, who kindly covered the insurance as long as I took care of maintenance and repairs. Unfortunately, the car broke down too many times last semester, so I decided it was time to find a more reliable vehicle. With my dad’s help, I found a decent car, paid for it with my savings, and took out an auto loan with monthly payments of $83—it’s a stretch, but manageable.
Now that the car is in my name, I’m responsible for the insurance. This is where I’ve been hitting a wall with my parents. I wanted to go for the cheapest insurance option since I don’t drive much and have a clean driving record, but my parents insist that I get full coverage. I’ve tried to explain that it’s out of my budget, yet they suggest I apply for food stamps instead. I told them I’m already exploring that option, but I can’t depend on it. They keep trying to find ways for me to afford full coverage without realizing my current financial limits.
I spent my entire spring break sorting out car issues and working, and the stress is overwhelming. Any advice on how to help them understand that I genuinely can’t manage full coverage on my own?
It sounds like you’re juggling a lot right now, and it’s understandable that this situation is causing you stress. Here are a few suggestions on how to communicate with your parents and help them understand your perspective:
Prepare Your Case: Before talking to them, prepare a clear breakdown of your income and expenses. Show them how much you’re making, what your monthly obligations are, and how little is left over. This transparency might help them see your financial reality.
Discuss Your Priorities: Explain that your current priorities are focused on managing your student loans, bills, and living expenses. Emphasize that while insurance is important, maintaining your financial stability is your primary concern right now.
Explore Options Together: Instead of rejecting their idea of full coverage outright, consider researching different insurance options together. You could find a middle ground where you have enough coverage for your situation without overwhelming your finances. This shows that you’re taking their concerns seriously while still looking for a practical solution.
Set a Goal to Revisit: Suggest a plan to revisit the insurance coverage in the future. As you become more financially stable, you can reassess your options. This shows your parents that you’re thinking ahead and willing to consider their concerns in the long run.
Stay Calm: Stress can lead to misunderstandings, so try to stay calm during discussions. Approach the conversation with a goal of collaboration rather than confrontation, which may help them be more receptive to your viewpoint.
Lean on Resources: If necessary, mention that you’re also exploring food stamp assistance, which might help alleviate some financial pressure. This could demonstrate to your parents that you’re actively trying to manage your situation.
Ultimately, showing that you’re responsible and thoughtfully considering your options may help them see your perspective. Good luck!