Parents often see themselves as deeply invested in their children’s lives, especially when they’ve spent years providing financial support. However, this can sometimes lead to a sense of entitlement, where parents feel they should have control over their adult children’s finances. They might forget that their children, now grown, deserve the same freedom to manage their own money.
In OP’s case, she faced this dilemma when her mother attempted to withdraw money from OP’s bank account. The account was originally a student account linked to her parents but was converted to a regular account when OP finished school. OP had changed the password to secure her savings from work, which frustrated her mother, who assumed she still had access. Her mother claimed the money belonged to her because it had been under her account, but OP found this logic baffling.
This story raises important questions about financial independence and boundaries between parents and their adult children. Should parents maintain control over their children’s finances after they become independent, or should they respect their autonomy? Share your thoughts in the comments!
Source: Reddit
1. OP’s mother tried to take out the money from her bank account without her consent.
2. OP’s student account was changed into a regular account after leaving her school but was still under her parent’s name and her mother tried to take out the money.
3. OP had recently changed her password, so her mother could not open the account, and she argued with OP that she had every right to take the money as it was still under her account.
4. OP stated that she had accumulated money from working and planned to spend it for school fees and trips.
Comments on this Story:
5. OP wanted to wait for her car payment before closing her account.
6. Redditor warns OP that her mother may receive OP’s bank statement and learn about her intentions of closing it.
7. According to Redditor, OP should open a new account and transfer her old account amount gradually to the new one.
8. Redditor with 35 years of banking experience disagrees with the concept of a joint account with family.
9. Indeed! Parents should aid their children rather than take their money without their permission.
10. Redditor is doing a commendable act.
11. Yes, a few families save money in the accounts to give back when their children reach adulthood.
12. Redditor regularly deposits money into the younger daughter’s accounts but never withdraws it without her consent.
13. Redditor will never spend the money of their son with autism and criticizes those who used their kid’s money.
14. Redditor has a joint account with her daughter, and it has benefited them in an emergency.
15. Exactly! Children receive money from their parents as a gift, and they are not entitled to take it back.
16. Redditor is setting good example.
17. Redditor suggests that OP should deactivate the account and relocate to a different state in order to avoid being under her mother’s authority.
18. Yes, OP needs to close that account and open the new one to avoid her mother access to it.
19. Redditor advises OP to open a new account in different bank and always check her credits.
20. Redditor doubts that OP’s mother has previously taken money from OP’s account without informing her.
OP needs to change her bank account without telling her mother so that she can effortlessly save money. OP cannot close the account abruptly because it will irritate her mother, so she has to start a new account covertly and gradually withdraw the funds to empty it. Parents should not look for their children’s money because it will make their children more cautious to hide it from them. Children should spend money on their parents voluntarily to make them happy.
