What do you think of parents taking money from thier childs savings bonds and bank account because they are having money problems?

I think they should ask first. If the child is not of an age to decide, they COULD have legal rights to it. But they should pay it back when things get better.

I think it is terrible. I know someone that had their parents take over $16,000 from their bank account without their permission and 20 years later have yet to pay him back. Almost ALL the money was from earning it from small babysitting jobs as a kid and mowing grass to jobs in Highschool. That is not right.

Sometimes parents will have to do whatever then need to to pay the bills. Who puts them money there in the first place? I can't imagine any parent who would be thrilled at the prospect of taking money from their kids and it should be repaid as soon as possible. Of course, if the child is older and is saving his/her own money from a job or allowance the parent should ask permission.

As long as they put it there in the first place it's theirs to do with as they see fit. If it has been placed there by someone else it would be a different matter. I don't think a parent who starts a savings account for their child is the type of parent to remove the money without a good reason.

it depends if the money problem will efect you!

We do what we have to do to survive. If it is really that dire, go for it or your kids are going to suffer a long time before that money ever does them any good. Try and put it back in the future. What can you do? The parents job is to raise the kids and keep them clean, safe and warm if they have no house then what?

I think it is complete bs if it wasn't given by the parent because my mom has taken over $350 dollars from me without consulting me at all, and in all honesty, I think it is stealing.

If the parent puts the money there in the first place, I don't see a big deal. If, on the other hand, the money comes from the child, then I see that as a problem. I would hope that both the parents and the child would agree to this before it happened and understood why. That seems like the respectful solution to me, so nobody is left confused and in the dark about money that appears to be missing.

My parents have always done the same thing even though they both have decent jobs (probably bring in over $80,000). I have no clue what happened to the birthday/christmas money that was given to me as a child since I never recieved it and I am 27 now. I also have no clue what happened to the savings bonds that was given to us either. I never had any money to spend on field trips like the rest of my class nor any spending money since my mom always took it (supposedly saved it). I was suppose to get allowance, but again I never recieved any of it. I was suppose to get more refund back as a senior in high school since I went to college and I paid the tuition. My parents took the deduction and promised the guy that does their taxes that I would get the difference but it never happened. My parents promised me the money from some hay that I baled since I did all the work, but I never seen that money either. I have a verbal agreement that if I work on the farm I can have my cows there. I worked on the farm ~400 hrs/year for feed. I pay for all my college. I had a manatory internship for school which my dad was fine with before I left. When they came to see me they told me that they get to keep all of my calves (which the cows where all bought by me with earned money and not a penny from them). I did work that year just not 3 1/2 months. That money was going to pay for my schooling (which I also didn't have a job for 4 months due to my boss not keeping his promise) so I had to take out another loan. They are taking my calves again this year. I am living on a graduate stripend of ~1200/month where I have to pay everything. I am so fusturated with my parents stealing my calves. What can I do? I was adopted so they kicked me out of the house since I was 18 so they have not paid my living expenses for a while.

fair trade.

haven't the parents been providing for the child all it's life? heck, didn't they give the child life itself?


let the parents have it, the child has his whole life to support himself

I'm with "Wil" and "Lil" ... if the parents put it there in the 1st place, I see nothing wrong with it.
But, like "Fun" said, if the money was earned and belongs to the child, the parents should definitely ask to BORROW the money!
I would hope that, as long as both parents are working hard and trying their best, that maybe the child (if old enough), might loan the parents the money to "help-out" in the hard times.
Believe me, (being someone who has been thru some very bad financial times), there is nothing quite like one of your children (19 years old, at the time), coming to you and saying "I want to buy the groceries this week"! It makes you very proud!

I don't think that anyone ever has the right to "take" something that does not belong to them. If parents have set up savings accounts and purchased savings bonds in their children's names, then, guess what, that money belongs to their children -- if that wasn't true, then why bother setting it up for your kids to begin with? Once you give something to someone else it is no longer yours. I think it is a crying shame to think that it is justifiable to take money from your children. Does it make it O.K. to take it because they are too young to protect what belongs to them? Or because you are their parents? If that is the case, then at what age do you draw the line? Would you want your parent taking your money because they gave it to you? Or because they are older than you? Would you like it if someone took your money without asking and never paid it back? What about the money and savings bonds that were given to your children as gifts from reltatives? Is it O.K. to take that money, too? Do you want to teach your kids that it is O.K. to take what isn't theirs? Which is, by definition, STEALING!! If financial times are tough and there is no other option, then BORROW the money from your kids AND PAY IT BACK!!!! Treat your children with respect and do the right thing!!! For goodness sakes, DON'T STEAL FROM YOUR KIDS!!

Well my boyfriends dad is taking all his paychecks, and cashing his savings bonds on the pretense that he will one day get a job and pay him back.
Does his dad look for a job?
No. He reads all day.
Did his dad give him any of that money?
No. He worked hard for it or got it from family.