To ask if you or your spouse has Family Money?

[FrasierReboot]

And if so, what's it like and how have you benefitted financially?

Someone I know was saying that her husbands family are very rich and so their house was paid for by the in laws (2 million), there is a school fund for private schooling for their two children, and the in laws pay for their very expensive holidays to places like Mustique each year.

There is often a lot of talk on here about Family Money but I didn't realise it would literally mean for some people they have a life free of any financial burdens! Very lucky!

I don’t have a spouse but yes lucky enough to have family money. I’m not flash with money, don’t buy big cars/designer clothes/go on fancy holidays and I still work a professional job, did exams etc to get to this point. But yes it does make life much easier, for example I was able to have an operation privately rather than wait 2 years for the NHS, or if I needed a new car I’d be able to just go out and buy one. I’m v thankful 🙏🏼

All the usual mc help. Wedding, house deposit, help with renovations, towards childcare, random gifts. But my husbands parents nothing, they are wc but prob earnt the same over time. Different values of parenting I think. One values helping and one independence.

Not us but DH cousin was given a four bed detached house as a wedding present, this was quite a few years ago now.

My parents will be leaving me a good inheritance of around 1mil, and before getting married I lived in a house they bought for me. My partner's family is much better off than me. He has a trust fund to the extent he doesn't have to work, but had a business venture funded by his family which is very hands off. It's made a huge difference to my life, I'm neurodivergent and don't cope well around people and it has given me the privilege to stay home since I met him. Alongside that, if anything goes sour between us I will have the money to live off interest and somewhere to live.

Getting a 2 million house is pretty extreme, but presumably they can afford the upkeep?
Its all pretty relative what you would count as family money though isn’t it?
I didn’t grow up “wealthy “ but looking back there was obviously some financial change in my parents circumstances in my tweens. Obviously I must have benefited from the experiences they exposed me too but they also sent me out to get a job at the pub at 14.
ive made my own way in life, and financially comfortable. My brother is too, but he’s probably just sitting waiting for inheritance.
how has it affected me? Who knows…..I’m pretty financially savvy. If anything in all honesty to some degree I would say i find it more wierd they wouldn’t pass on their accumulated wealth now rather than when it becomes an inheritance? I know that will ruffle feathers

yes, also, people in this sort of set up tend to flock together - live in the same areas, socialise together etc. The properly wealthy "family money" ones I've met through work etc, but never really became friends with because they have their own social circles that don't include the rest of us.

But I do have a few friends from the more "normal" family money - some, albeit limited, help with school fees, house deposits, cars and so on.

Arguably, in my home country, I'm in the latter group myself (good education, student loan free, small amount of help with the deposit / legal fees on my first flat etc) but my parents have never been in a position to help financially since I moved here. Having said that, without that first flat, purchased before house prices globally went through the roof, DH and I would still believing in rented accommodation. Even with the relatively low value of that flat in comparison to the UK, we were able to sell that flat and bring the money over here and it was just enough for a small deposit.

Nope

Nothing
No family money.

Have had to save up for everything and pay ourselves.

My husband comes from money. His dad was very successful but didn’t come from money himself. He went to the best school in their neighbourhood which is a very expensive pocket of London. They helped him with the deposit on his house and have houses abroad which we are free to use whenever and paid for a very lavish wedding for us happily because they were so excited. They are lovely and very generous and would always be there if we really needed them but haven’t spoilt him at all. I don’t think my husband even considers himself very wealthy compared to some of his friends who have been lavished with money.
My parents aren’t bad off but the biggest difference I’ve noticed is how well travelled he is compared to me.
I am sure there will be a very healthy inheritance but we don’t like to think about that. They’re wonderful people and very present for our DC who they look after once a week :-).

My PIL are extremely wealthy. I have a very good job earning £200k+ although this was not the case for much of my career.

Because I have a good job my PIL take the view that we don't need any support. On the other hand they provide huge support for their other children who are all low earners. They have bought houses, cars, holidays etc. We have never received a penny. They even had the gall to suggest we were wasting our own money providing our child with a private education. Suffice to say that we are no longer close to any of them.

Not me personally nor DH. I know people who do have family money though and I’ve observed what a difference it can make. One of my closest friends went through a horrible divorce and her ex is constantly withholding CMS. Her family money combined with her job has enabled to still give her children a privileged lifestyle (which he hates, he wants her to struggle ).