My parent said that I cannot donate it to people in need because I have no salary, but I am not sure if joint-account ownership works like that (I doubt it does). It just feels like my parent is being controlling like they have been throughout my whole life.
Edit: For context, they said that I have to use the money for university stuff (not sure if that is legally enforceable).
You can use any money in a joint account as you see fit, and so can they. All the joint account means is that multiple people have the full ability to make deposits, withdrawals, and transactions on the account.
I would however advise against performing acts of charity that would put you in a dangerous financial position, as in this case where you have no source of income. If you would like to help other people in need, there are a litany of avenues you can take that do not involve taking on an untenable financial hardship, such as volunteering at soup kitchens, food banks, libraries, and low-income clinics.
I would also recommend that you go to another credit union or bank and open a no-fee bank account on your own, if you believe your parents are being financially controlling.
Ok, thank you so much for the advice (I was so worried that they could actually punish me for doing what I wanted with the money); also, I appreciate your concern, but I am willing to donate some of my money to a certain person in need because they seem to need it more than me.
Got it (though I would need to actually go there without being able to drive … huh).
They can stop making deposits and withdraw all the money.
But what if I withdraw it all or spend it first? Hehe (devious laugh).
Edit: Just to be clear, my parent is an awful person that is pressuring me into doing something I do not want and is generally ignorant of my mental state (I also do not really feel safe around them).
Get your own account and siphon cash if you must. I don’t recommend it like others said, putting yourself in a worse position could make it harder to donate in the future. I disagree with them that giving alms in the first world is somehow a translatable karmic absolution over to the same category as aiding the Palestinians lol
Got it! The thing with the post I want to donate to them is that the post makes me feel awful due to incidents that I would not want to talk about here.
I have also stared at my bank account full of grocery money for my time in university and consider how much more useful it could be to others. You can legally do what you want with that money but it will strain your relationship with the provider of that money. The choice is yours, I won’t discourage you, it be like that.
Heh they are a POS so I do not care about their opinion.
If it is grocery money, as mine was, I recommend eating frugally and using the excess for charity. Dried chick peas and rice were a godsend for me.
If you can find a way to obscure how the money is spent in a nonsuspicious way I recommend doing so.
Thank you for that, but unfortunately, I might need to move out soon because of personal circumstances, so I should probably transfer money over to my other bank account before that.
It depends how the account is set up and/or which country it’s in.
There are accounts which require two people to approve transactions and accounts which allow either named owner to make transactions on their own.
If you’re an adult you can spend your money as you like.
I am an adult and I am also American.
I just worry that I was a part of some contract where my account was specifically made for university expenditure among other things.
If they might spitefully withhold money if its not spent as approved and groceries are approved I’d suggest buying some prepay cards at the grocery store and then spending unspied on.
But they could monitor me spending it in little amounts, and besides, I do not really have much time due to personal circumstances.
I recommend carefully thinking through any and all plans (not just this one) and potential consequences. There are always latent consequences, too. I speak from a long personal history of not doing that.
Got it (I should get my own online banking account just in case I have to transfer the money because having my own account is important).
I have not thought through my plan entirely (because there are a lot of factors and I am running out of options), but what is most important is to have an immediate goal, and I do.
In the US, you can even just make an individual account with the same bank online. Transfer from the joint account to your individual account. Done, and perfectly legal.
As long as it’s a regular bank account and not a dedicated education account like a Coverdell or 529, you’re good. And even those you just pay a tax penalty for non-education withdrawals.
How would I figure out what sort of bank account I have? It has been a while since I opened my bank account.
Thank you for the advice! It is helpful.
I wish you the best.
Thanks (though that phrase is a bit off because it seems like it comes out of nowhere).
