17-Year-Old Thinks She Is Entitled To Spend College Fund Money The Way She Wants, Gets Turned Down

It is normal to learn by doing; however, in some areas, the cost of mistakes might be too high and they tend to be protected by limiting access to them. One such area is funds for long-term financial goals, as it often takes many years to save it, while it can be spent in no time.

No wonder this Redditor wasn’t going to let her daughter use the college money saved by her parents on various small purchases, just because she decided to take a gap year, and was considering not attending college.

More info: Reddit

Parents have been saving for their daughter’s college, yet were recently informed she had other plans for using the money

17-Year-Old Thinks She Is Entitled To Spend College Fund Money The Way She Wants, Gets Turned Down

Image credits: Nicole Michalou (not the actual photo)

The daughter is unsure whether she will attend college and plans to take some time off after graduating high school

17-Year-Old Thinks She Is Entitled To Spend College Fund Money The Way She Wants, Gets Turned Down

Image credit: u/Immediate-Sector-114

17-Year-Old Thinks She Is Entitled To Spend College Fund Money The Way She Wants, Gets Turned Down

Image credits: javier trueba (not the actual photo)

17-Year-Old Thinks She Is Entitled To Spend College Fund Money The Way She Wants, Gets Turned Down

Image credit: u/Immediate-Sector-114

The girl’s mother supports her daughter no matter what path she decides to take

17-Year-Old Thinks She Is Entitled To Spend College Fund Money The Way She Wants, Gets Turned Down

Image credits: Tima Miroshnichenko (not the actual photo)

Yet the daughter asked for her college fund money so she can purchase a car, among other things, in the meantime

A woman turned to the Reddit AITAH community online asking if she was a jerk to turn down her 17-year-old daughter’s request when she asked for her college fund money so she could purchase a car, among other things.

The woman shared that she and her husband had been saving since their daughter was a baby, therefore they already have $200,000 in the account.

Their daughter, however, who is a senior in high school, has recently decided to take some time off of education after graduating high school, planning to get a job and figure out when, and if at all, she wants to continue her education.

The 17-year-old also wished to purchase a car, among other things, and asked to take her college fund money. The adolescent argued that she was entitled to the money because it was meant for her.

While the mother explained that she would support her daughter no matter what path she decided to take, the parents turned down their daughter’s request and kept the college fund money for now in case their daughter decided to attend college.

Despite the adolescent claiming the money is hers as it was meant for her, the parents refused to hand over the college fund money

17-Year-Old Thinks She Is Entitled To Spend College Fund Money The Way She Wants, Gets Turned Down

Image credits: Pixabay (not the actual photo)

The mother explained that they will hold on to the fund for now in case their daughter decides to attend college

When it comes to financial behavior, financial goals and accordingly budgeting are often classified into long-term, middle-term, and short-term goals. While saving for a child’s education is often attributed to long-term financial goals, buying a car tends to be classified as middle-term financial goal.

A difference between long-term and short-term financial goals was discussed by J. Wagner and W. B Walstad, who compared long-term and short-term financial behaviors and observed the importance and effectiveness of financial education, rather than simply a learning-by-doing approach when it comes to long-term financial behavior.

The researchers explained that short-term financial behavior such as paying bills each month tends to be corrected quite easily due to receiving frequent and continual feedback and reminders to correct one’s actions. For this reason, learning by doing might be also effective.

However, when it comes to long-term financial behavior, financial education tends to be crucial for bringing positive results as first, the feedback is often irregular or infrequent when it comes to long-term financial behavior, and second, the mistakes of not saving enough for long-term financial goals might be irreversible or at least cannot be quickly and easily changed after a certain point.

Coming back to the original story, the woman’s post gathered 12.5k upvotes on Reddit and people sided with the parents, as the fund was meant specifically for college in addition to it being the parents’ money and therefore it being their decision what to do with it.

What’s your take on the situation? Please share your thoughts in the comment section below!

Redditors shared their takes on the situation

17-Year-Old Thinks She Is Entitled To Spend College Fund Money The Way She Wants, Gets Turned Down

Aura is a writer at Bored Panda. She finished her BA in Philosophy at Vilnius University. She lived in Prague for a few years, where she worked in Trade Compliance at DHL Express. Finally, she came back to Vilnius to continue her studies in Philosophy.

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I am a visual editor here. In my free time I enjoy the vibrant worlds of art galleries, exhibitions, and soulful concerts. Yet, amidst life's hustle and bustle, I find solace in nature's embrace, cherishing tranquil moments with beloved friends. Deep within, I hold a dream close - to embark on a global journey in an RV, accompanied by my faithful canine companion. Together, we'll wander through diverse cultures, weaving precious memories under the starry night sky, fulfilling the wanderlust that stirs my soul.

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What do you think ?

POST

Ima Manimal 11 months ago

First mistake was letting her know the account even existed.

46points

tw 72 11 months ago

Second mistake: Apparently, not learning how to tell her NO! Be the adult!

29points

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PeepPeep the duck 11 months ago

I can picture her at school beforehand too, bragging to friends about all this money she’s going to get etc

9points

ॐBoyGanesh 11 months ago

It depends on the kid & stitch. My grades started slipping year 9, which is when my grandparents told me I had an education savings account to pay for university. There were several stipulations to the account, much like the HEMS they left me with after graduation. Knowing that I had the opportunity to go to practically anywhere I would accepted was the precise motivation I needed. I went from being a pretty decent but passive student to really treating it like a full time job. It gave me drive, especially since it was an opportunity my more studious friends didn’t necessarily have. It’s one thing to be blessed with such privilege & opportunity, but it’s an entirely different thing to take it for granted. Had that not been a dangling carrot, I wouldn’t be anywhere close to how content & successful I personally feel I am. However, had I been an entitled brat, it would have been a bad idea for a spineless person to tell me I had money waiting for me.

7points

Jude Laskowski 11 months ago

Absolutely!

1point

Alec 11 months ago

No way should she get the money now for anything other than for school (and payments to the school should be made directly). On the other hand, if she does choose a different path, OP might be able to offer a fair alternative when she is 25/30, something like putting that money towards the down-payment of a house, or, if she has acquired the necessary skills, and has a sensible business plan, it could be used as startup money (and no, I wouldn't count a dream wedding as a legitimate alternative)

32points

Libstak 11 months ago (edited)

My thoughts exactly, although after this attempt I would buy a house in the name of a family trust and make her pay rent to pay it off, she has shown her colours. The trust can be disbanded after age 30 into her name if all goes well.

11points

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TheBlueBitterfly 11 months ago

It's not her money, it never was. It shouldn't ever be in her hands. If she goes to college or any kind of trade school/training etc, it should be paid to the school, not to her.

25points

Rita Rose 11 months ago

My older brother went to university and my parents paid for his accommodation and student loans. I chose to work instead. My parents understood that college isn't for everyone. When I was 27 I moved to Canada with my partner and my parents surprised me with $10k to help us get set up!! They literally told me that they spent alot on my brother's education and wanted to give me a similar opportunity in life 😊... It was super unexpected and helped bit time!!! I still thank them every time they visit....

19points

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POST

Ima Manimal 11 months ago

First mistake was letting her know the account even existed.

46points

tw 72 11 months ago

Second mistake: Apparently, not learning how to tell her NO! Be the adult!

29points

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PeepPeep the duck 11 months ago

I can picture her at school beforehand too, bragging to friends about all this money she’s going to get etc

9points

ॐBoyGanesh 11 months ago

7points

Jude Laskowski 11 months ago

Absolutely!

1point

Alec 11 months ago

32points

Libstak 11 months ago (edited)

11points

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TheBlueBitterfly 11 months ago

It's not her money, it never was. It shouldn't ever be in her hands. If she goes to college or any kind of trade school/training etc, it should be paid to the school, not to her.

25points