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Anonymous

10 Aug 2020

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I'm 17 y/o and my parents control the money I earn. Any advice?

Just started working part-time and my parents are asking me to give them half of my salary to save which they put in an account I have no access to. They say that's to be used only for emergencies and to keep me from spending too much. But it's my money and I should be able to do whatever I want with it. How can i convince them to let me control my own money?

Discussion (3)

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The 2 answers below mentioned very good points. However, it is important to understand your parents' POV that they are worried that you will spend your hard-earned money without concern. I believe you can talk to your parents about and convince them that you spend your money wisely.

For e.g.
You can chart your income and expenses month and justify your purchases.

Have a good talk with your parents about this over dinner. Nothing cannot be discussed as a family.

Jie Sheng

10 Aug 2020

Seedly Student Ambassador 2020/21 at Seedly

Hello, I would recommend maybe you can suggest to your parents to open a joint account (where both you and your parents will have access to). From this, they can know how you manage your expenses and then slowly you can gain their trust to eventually have your own personal account.

As I think their main concern is they’re afraid you spend on unnecessary things that you do not really need. If you are able to show them that you’re making full use of the money you earn and putting aside some for savings for future needs. I believe they’ll understand and soon let you have full control of your money. It’ll take some time but it’ll get there, hope this helps!

That's very common and when I was serving NS, I still have to give my parents half my allowance. I h...

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