Mom And Dad's Gift

Matt says that Mom and Dad want to give him his down payment for his first home. Should he accept it? Dave thinks so.

QUESTION: Matt on Facebook says that Mom and Dad want to give him his down payment for his first home. Should he accept it? Dave thinks so.

ANSWER: I don't have a problem with that as long as they're giving it to you—no debt. And let's go one step further here, boys and girls. Mom and Dad are not control freaks. Mom and Dad are not going to tell you every single thing that you have to do with your life from this point forward. They're simply giving you a gift. If that's what they're doing, I'm in.