START HERE: Should I Accept Money From My Parents If I’m Still in Debt?

In today’s Start Here episode, Canna answers a deeply personal question many people quietly struggle with:

“What do you do when your parents want to gift you money to help you buy a home… but you’re still in credit card debt and feel ashamed to accept it?”

This episode is all about navigating the overlap between family, money, guilt, love, responsibility, and boundaries.

Canna covers:

• How to have the conversation with your parents openly and respectfully

• Why accepting money while still in debt can sometimes set you backwards

• How to use this period to clear debt fast and understand what caused it

• Why being transparent with your parents can strengthen relationships

• Why a mortgage broker should be part of your plan before you accept any money

• The essential legal step that protects both sides

• How to run a “dress rehearsal” for home ownership

• The importance of building an emergency fund so you never fall back into credit card debt

• How to show your parents gratitude while still protecting your own financial wellbeing

This episode is perfect for anyone navigating family generosity, mixed emotions, or wanting to build a solid foundation before buying a home.

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🔍 Key Points

• Transparency builds trust, not disappointment
Being honest with your parents about your debt shows integrity and responsibility.

• Pay off the debt first — and learn from it
Use this time to understand how the debt happened so history never repeats.

• Speak with a mortgage broker early
Understand borrowing power, documentation requirements, and how a family gift is viewed by lenders.

• Get independent legal advice
Protect yourself and your parents by documenting what the gift means.

• Start making your future mortgage repayments NOW
Your “dress rehearsal” proves to you and the bank that you’re ready.

• Build an emergency fund
Protects you from slipping back into debt once you have a mortgage.

• This is a blessing, not a burden
Handled well, this gift can help build your family’s long-term financial legacy.

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📝 Disclaimer

This podcast is for educational and general advice purposes only. It does not consider your personal financial situation. Please speak with a licensed financial planner, mortgage broker, and solicitor before making decisions involving debt, gifts, or property purchases.

🔗 Follow & Connect

Instagram: @SugarMamma
Lifestyle & fashion: @CannaCampbellOfficial
YouTube: SugarMammaTV
Podcast: SugarMamma’s Fireplay

💬 Let’s Keep the Conversation Going

I’d love to hear your thoughts on this episode! Reach out to me anytime on Instagram @SugarMammaTV OR email me canna@sugarmamma.tv so we can keep this important conversation alive.

📚 My Books

If you’re ready to deepen your financial knowledge, check out my books:

• Best Seller:The $1000 Project
• **Mindful Money](https://amzn.to/3RV0poc)
• Motivated Money by Peter Thornhill(a huge inspiration for me): Read it here

(These are Amazon affiliate links to my own books.)

💡 Work With Me

Want more support on your financial journey? Here’s how we can work together:

1. The SugarMamma Budget & Cashflow Academy
   Sick of living paycheque to paycheque or feeling overwhelmed by your money?
   This course includes aone-on-one appointment with me so I can personally help you.
   👉 Enrol here
2. Money Mindset & Manifestation Coaching
   Join my program for ongoing support, clarity, and motivation. You’ll get direct access to me and a community of like-minded people ready to make powerful change.
   👉Join here

🌟 Stay Connected & Inspired

• Instagram:@SugarMammaTV — money, budgeting, cashflow & motivation
• Instagram:@CannaCampbellofficial — lifestyle, capsule wardrobe fashion, motherhood
• TikTok:@SugarMammaTV
• YouTube:SugarMammaTV — over 500 bite-sized videos with more than 12 million views!
• Website:SugarMammaTV.com
• Don’t forget my other podcast:How Do They Afford That? 👉 Listen here

⚖️ General Advice Warning

While we discuss financial topics, everything shared here is general information only — never personal, product, or investment advice. Always:

• Do your own research.
• Weigh up the pros, cons, fees, caps, taxes, and risks.
• Seek professional advice before making financial decisions.

📜 Financial Planning License Details

The information in this podcast does not take into account your personal circumstances, goals, or needs. Always read relevant Product Disclosure Statements before acquiring any financial product, and seek independent financial advice where appropriate.

Canna Campbell is an Authorised Representative and Financial Adviser of Links Licensee Services Pty Ltd (AFSL No. 700012 | ABN 97 678 975 589).

 

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