Is it OK for parents to take your money?

If they are your legal guardians or not they are required (if you are the earner of that money), to ask your permission to use any part of that money. On the other hand, if they ARE your legal guardians and they have control over your finances, they prolly don’t have to ask.

Can my parents take my money if I’m under 18?

It’s not illegal to take money from your kids in most cases, although, of course, there are exceptions, like if the child’s money is in a specific trust and you abuse the funds. Don’t be surprised to find your kids, as teens, lifting $10 bills from your purse or wallet.”

Do your parents have the right to take away your money?

When you buy something with your own money that your earned by working then your parents have no right to take it away. People do not take away things from your parents. Just because they are your parents dose not mean they can take away your personal possessions.

How to deal with financially Toxic Parents?

The answer to how to handle financially toxic parents depends on both you and them. There are many reasons your parents may ask you for money. Some are valid reasons, and others, not so much. Sometimes the unexpected happens. Your parent may find him or herself out of a job and in need of money.

Do parents have the right to money from their minor child?

In many places it is either the law or understood that parents have the right to money earned or received by their minor children living with them. Some parents do not take the money of a minor child living with them but do expect that child to use his own money for his phone, his car and clothes.

Do My Parents pay for everything?

The answer remains and unqualified “yes.” Your parents (if you are under 18) pay for everything important. They pay for your food, shelter, health care, and just about everything else. The only reason you have “bought” anything is that they cover all of your expenses.