are my parents right if they take away my money for their own use without telling me?

Question

the money came from them but i think what is given to me becomes mine

Answer 1

If you are under 18 it is their money to do with as they please. Sorry.

Answer 2

There's a fine line here. If you are under the age of majority, they are within their rights to take it back. If you have your own bank account, though, they cannot legally take it from there, and the bank will also be in trouble if it allows that.

Morally, though, they shouldn't do it; the exception being that if it is a large sum of money for a specific purpose and you are just frittering it away, then they may want to take it back until you can behave more responsibly. It also depends on the use to which they want to put it.

And they are certainly wrong if they take it without telling you and making arrangements to repay you.

Answer 3

Well that all depends, one, how did they get the money in the first place, second, did they actually give you the money or just tell you that it was your money. If they just said, "This is your money" but didnt actually hand you any money then, Yes, they can take it back at any given point.(that is every parents birth right) But, if they put the money in your hands and said it was yours, then later went in your room or something and took it then, No, they do not have that right, its called stealing. But then again if they put the money in your hands and then you went and put it in the bank and the accounts has yours and their names on it then, well, yes and no, like they have the right to take it, but its morally wrong to take it without asking you first.

Answer 4

I don't believe they're right to take it away, legally they can do it, but it's not right...at least in my opinion.
Building a relationship with your children is all about trust, and setting boundries, it does not send a good message for parents to morally steal from their own children, but it also depends on how you came across this money. If they gave it to you, than maybe they would have a little bit more of a right to take it away, but if you earned it yourself, then, you're in the same place.
Talk to them in a calm rational way, express your feelings to them, and remind them that your feelings matter too.

Answer 5

You don't say what the circumstances are...was this money put into some kind of account for your future- say college savings? If so, that would be unethical, but, have you asked the reason? Are they in dire financial straits? Do they intend to replace the money later? There are a lot of factors here that need to be addressed. I suggest you sit down with your parents, inform them that you feel grown up enough to want to know what's going on, and try to discuss it rationally.

Answer 6

When given a gift, even if it's money, the RESPECTFUL thing to do (even if it WAS your parents) is to ASK the owner of the gift, BEFORE borrowing, taking or using it. Suggestion: in the future, perhaps you need to secure (hide) your money in a place NOT known or easily found by them, so they will be forced to ask you in the future. However, if it will cause your parents to become abusive, it's not worth it.

Answer 7

Once they give you the money they should not be taking it back. If they need money they should ask you if they can borrow some and then they should pay it back to you. Your parents are supposed to modeling good behavior for you. Who would take someone else's money with out asking? A thief would. And only irresponsible people don't bother with paying people back for loans. Maybe you need to hide your money better so that your parents don't find it!!

Answer 8

Well, did you earn the money? If so, then it's yours, not just in your possession. If that be the case, it's yours without a doubt and you should be able to spend it to your choice, with your parents' discretion. But, if it is a fairly large amount and they needed the money, for whatever reason, then yea, just they should deffinitly pay you back.

Answer 9

normally I support the parents, but they should talk to you, and write you an IOU for it. Your right, once they give it to you, it is yours. But if they are having money problems, just tell them you don't mind loaning the money. And the next time they offer you money (after they pay back what they owe you), just tell them it is ok...they may need the money more than you!

Answer 10

honestly if your at least 16 in most places you can open up a savings account with out your parents. or better yet a roth IRA and then you can put your money in there and no one can touch it but you. :D he he he. anyway make sure you get the details on both. call around to your local banks. for the roth IRA you cant pull it out till your 59.5 or your going to have penelties but but that time you CAN have well over a million in there. plus you can pull it out and put it in tax free.

with a savings account you usually can only do like three withdrawls a month and you can not write checks. but you can get one. call around and find out. not all the time do you have to have parents signautre for savings only.

Answer 11

If they gave it to you, they shouldn't be taking it back. Unless they *need* it to buy groceries, or pay the mortgage, in which case they shouldn't have given it to you in the first place. And they should still ask before they take it, no matter what. Sounds to me like you should think about getting yourself a job.