is $20000 enough money?

YOU don't have the same amount of money as the average family of four - your parents have the money. And no, $20,000 is not a lot of money. More than a lot have have, but not enough to sustain a family of four should either of your parents lose their job. (assuming they both work) The fact that you are worried about how much money you have compared to others is sad to me - you should be worried about contributing to your family and supporting them right now - not about how you compare to others.

If that is the amount sitting in a bank, then that is far above average. Most people have no money - they owe more than they have.

If that were their income level then you would not have been living a 'luxurious life' by any means, so I must assume it is in fact money stored somewhere.

Really, there is not enough information to answer this question. I will say that many people blow things out of proportion, including adults, when it comes to financial matters for which they really know very little about.

Just ask them. Tell them they're making you nervous. No child should have to worry about stuff like this. I think they're just overreacting.

A yearly salary of $20K would be achieved by earning $9.60/hr, before taxes. Honestly that's not a lot of money. So, for example, if your parents have that much saved up in the bank, and they were to both lose their jobs, I'd say they'd never be able to support 4 people and pay all their bills for 1 year. And with the way the economy is right now, it could take that long or longer to find another job.

I, on the other hand, live paycheck to paycheck. I'd die to have $20K saved up!

Per US Bureau of Census median income for 4-person familiesv in the United States is $67,019

http://www.census.gov/hhes/www/income/4person.html

With $20,000 in savings, you're not really poor. But you definitely don't have the money to live a "pretty luxurious life" with only $20,000 in the bank. Your parents can lose their income (e.g. father laid off from work or closed the business) and with only $20,000 in savings -- that may last you only 2 or 3 months depending on your expenses.

If you live frugally during this economical setback you should do fine. No one should be living "high on the hog" or the "luxurious" life these days because of so much uncertainty in the economy.

Can't answer your question because $20K doesn't tell us anything at all about your family's situation.

If your parents are concerned, then it'd be a good idea to work with them and help control spending at your house. It'd also be a good time to ask them to teach you about money managment. Handling money well is an important skill and it's never too soon to learn it.

As in savings? That's about the suggested amount that you should have in your savings, though many people don't. Most people live paycheck to paycheck. They only have a few hundred dollars at any time...

It really depends if that amount is increasing, decreasing, being maintained, and what their monthly income.

If you don't have any bills this is a decent amount of money. Although, it would only carry me through almost 4 months with my family of 7 and a dog.

Depends, in CA, that's poor for sure. my average expense a month is about 5k, so 20K would only go for about 4 month, could be longer if I cut back, but 3k a month is a must.

But if you are in a less expensive state, it might go longer

your question is meaningless. is the 20,000 supposed to last 1 month? a year? 10 yrs? is that your monthly entertainment budget? your monthly allowance? are your parents working? how much credit card debt and car loans do they have? do you eat out more than once per week?