LPT: If your parents opened up a bank account with you and are joint on it, as soon as you turn 18 open up a separate account without them on it.

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Being blunt – you present this as fact when in reality it’s very situational. If your parents have a history of being overly controlling, abusive or untrustworthy, then absolutely… financial independence is a good way to ensure healthy boundaries. But if you have a healthy relationship with the parent, having the second set of eyes in those first few years as you learn to navigate finances on your own can prove beneficial.


Open a bank account on your own for sure, but keep the one with your parents on it open as well. When we need to give you money, its so much easier to just transfer it over and have it go in immediately with no fees! Edit; ONLY IF YOUR PARENTS ARE NOT DICKFACES.


Multitude of reasons but here’s mine, my mom helped me open a bank account when I was 15. I used it my entire life, even into my late 20s with my direct deposit checks going straight into it… until one day when my entire account was depleted, all my life savings. Turns out my mom hadn’t paid her taxes in years and didn’t answer/open any IRS letters. So yeah, when the time came they garnished everything, didn’t matter that it was used only by me for over a decade. So OP is correct, not worth the risk, open another account under your own name.


My mom is still on mine and I’m 30. She doesn’t ever think about touching it. I’ve always looked at it like, god forbid something happens to me, my money will go to her and not the state.